Evotec (NASDAQ:EVO) Shares Down 16.1% – Here’s What Happened

Evotec AG (NASDAQ:EVO) was down 16.1% during trading on Monday . The stock traded as low as $2.35 and last traded at $2.34. 80,557 shares traded hands during mid-day trading, a decline of 20% from the average session volume of 100,118 shares. The stock had previously closed at $2.79.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on EVO shares. Wall Street Zen lowered shares of Evotec from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings upgraded Evotec from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, April 24th. TD Cowen lowered Evotec from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, HC Wainwright cut their price objective on Evotec from $7.00 to $4.00 and set a “buy” rating for the company in a report on Wednesday. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $4.00.

Evotec Stock Down 11.9%

The stock has a 50-day moving average of $2.81 and a two-hundred day moving average of $3.03. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.68 and a quick ratio of 1.60.

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

Hedge Funds Weigh In On Evotec

Institutional investors and hedge funds have recently made changes to their positions in the business. ABC Arbitrage SA grew its stake in shares of Evotec by 319.7% during the fourth quarter. ABC Arbitrage SA now owns 554,287 shares of the company’s stock valued at $1,707,000 after buying an additional 422,230 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Evotec in the 4th quarter valued at about $40,000. HRT Financial LP purchased a new stake in Evotec during the 4th quarter valued at about $72,000. Goldman Sachs Group Inc. bought a new position in Evotec during the 4th quarter worth approximately $110,000. Finally, BNP Paribas Financial Markets increased its stake in Evotec by 62.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company’s stock worth $50,000 after purchasing an additional 4,600 shares during the period. Institutional investors own 5.81% of the company’s stock.

Evotec Company Profile

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.