Evotec (NASDAQ:EVO) Shares Gap Down – Here’s What Happened

Evotec AG (NASDAQ:EVO) shares gapped down prior to trading on Wednesday . The stock had previously closed at $3.00, but opened at $2.67. Evotec shares last traded at $2.6730, with a volume of 83,166 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EVO. Berenberg Bank began coverage on Evotec in a research note on Tuesday, February 3rd. They issued a “buy” rating on the stock. HC Wainwright began coverage on Evotec in a research note on Wednesday, April 15th. They issued a “buy” rating and a $7.00 price target on the stock. Wall Street Zen cut Evotec from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings upgraded Evotec from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, April 24th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Evotec presently has an average rating of “Moderate Buy” and an average target price of $7.00.

Evotec Trading Up 0.4%

The company has a quick ratio of 1.60, a current ratio of 1.68 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $2.81 and a 200 day simple moving average of $3.17.

Evotec (NASDAQ:EVO) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.05 EPS for the quarter. Evotec had a negative return on equity of 24.93% and a negative net margin of 26.20%.The firm had revenue of $297.02 million for the quarter. Equities analysts forecast that Evotec AG will post -0.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EVO. ABC Arbitrage SA grew its holdings in shares of Evotec by 319.7% during the 4th quarter. ABC Arbitrage SA now owns 554,287 shares of the company’s stock worth $1,707,000 after purchasing an additional 422,230 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Evotec by 25.7% during the 4th quarter. Wellington Management Group LLP now owns 1,797,444 shares of the company’s stock worth $5,536,000 after purchasing an additional 367,545 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Evotec during the 4th quarter worth $565,000. Millennium Management LLC acquired a new stake in shares of Evotec during the 4th quarter worth $317,000. Finally, DCF Advisers LLC grew its holdings in shares of Evotec by 7.6% during the 3rd quarter. DCF Advisers LLC now owns 1,198,993 shares of the company’s stock worth $4,352,000 after purchasing an additional 84,500 shares in the last quarter. 5.81% of the stock is owned by institutional investors and hedge funds.

About Evotec

Evotec SE (NASDAQ:EVO) is a global biotechnology company headquartered in Hamburg, Germany, specializing in drug discovery and development partnerships. The company leverages its integrated discovery platforms to support pharmaceutical and biotech clients in advancing novel therapies from target identification through preclinical development.

Evotec’s service offering encompasses high-throughput screening, bioanalytics, combinatorial chemistry, structural biology, pharmacology, and computational drug design.