Evotec (NASDAQ:EVO) Sets New 52-Week Low – Should You Sell?

Shares of Evotec AG (NASDAQ:EVO) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $1.95 and last traded at $1.96, with a volume of 7049 shares. The stock had previously closed at $2.00.

Analysts Set New Price Targets

EVO has been the topic of a number of recent analyst reports. Berenberg Bank lowered Evotec from a “buy” rating to a “hold” rating in a research report on Thursday, July 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Evotec in a research note on Tuesday. Wall Street Zen cut shares of Evotec from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. HC Wainwright cut their price target on shares of Evotec from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. Finally, TD Cowen downgraded shares of Evotec from a “buy” rating to a “hold” rating and set a $2.00 price objective on the stock. in a research note on Wednesday, July 15th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $3.00.

Evotec Stock Performance

The company has a 50 day simple moving average of $2.67 and a 200-day simple moving average of $2.98. The company has a current ratio of 1.68, a quick ratio of 1.60 and a debt-to-equity ratio of 0.43.

Institutional Investors Weigh In On Evotec

Several institutional investors and hedge funds have recently made changes to their positions in EVO. Apollon Wealth Management LLC bought a new position in Evotec during the first quarter worth $28,000. Marshall Wace LLP bought a new stake in Evotec during the fourth quarter valued at $40,000. SmartHarvest Portfolios LLC acquired a new stake in shares of Evotec during the first quarter worth $44,000. BNP Paribas Financial Markets raised its holdings in shares of Evotec by 62.2% during the second 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. Finally, Bank of America Corp DE raised its holdings in shares of Evotec by 262.5% during the fourth quarter. Bank of America Corp DE now owns 12,828 shares of the company’s stock worth $53,000 after purchasing an additional 9,289 shares during the period. 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.