Evotec (NASDAQ:EVO) Reaches New 12-Month Low – Here’s Why

Evotec AG (NASDAQ:EVO)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as $1.56 and last traded at $1.5550, with a volume of 99869 shares trading hands. The stock had previously closed at $1.60.

Analyst Ratings Changes

Several research firms have recently weighed in on EVO. Weiss Ratings lowered shares of Evotec from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 25th. HC Wainwright decreased their price target on Evotec from $7.00 to $4.00 and set a “buy” rating on the stock in a research report on Wednesday, July 15th. TD Cowen cut Evotec from a “buy” rating to a “hold” rating and set a $2.00 price target for the company. in a report on Wednesday, July 15th. Finally, Berenberg Bank downgraded Evotec from a “buy” rating to a “hold” rating in a research report on Thursday, July 16th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Evotec has an average rating of “Hold” and an average target price of $3.00.

Evotec Stock Down 3.1%

The company has a debt-to-equity ratio of 0.62, a current ratio of 2.33 and a quick ratio of 2.21. The firm’s 50-day simple moving average is $1.92 and its two-hundred day simple moving average is $2.50.

Institutional Trading of Evotec

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Optiver Holding B.V. lifted its stake in shares of Evotec by 598.4% during the first quarter. Optiver Holding B.V. now owns 283,576 shares of the company’s stock valued at $709,000 after acquiring an additional 242,973 shares during the period. WCM Investment Management LLC increased its position in Evotec by 12.1% in the first quarter. WCM Investment Management LLC now owns 627,260 shares of the company’s stock worth $1,480,000 after purchasing an additional 67,917 shares during the period. Fore Capital LLC acquired a new stake in Evotec in the fourth quarter worth about $97,000. SmartHarvest Portfolios LLC bought a new stake in Evotec during the 1st quarter worth about $44,000. Finally, Apollon Wealth Management LLC bought a new stake in Evotec during the 1st quarter worth about $28,000. Institutional investors and hedge funds own 5.81% of the company’s stock.

Evotec Company Profile

Evotec SE is a Germany-based biotechnology company that provides drug discovery and development services to pharmaceutical, biotechnology and academic organizations. The company works across the research process, from early-stage target identification and assay development through hit identification, lead optimization, preclinical research and translational development.

Evotec uses technology platforms and scientific expertise in areas including small-molecule drug discovery, biologics, protein degradation, cell and gene therapy, and precision medicine.