Short Interest in Evotec AG (NASDAQ:EVO) Decreases By 46.7%

Evotec AG (NASDAQ:EVO) saw a large drop in short interest during the month of July. As of July 15th, there was short interest totaling 28,249 shares, a drop of 46.7% from the June 30th total of 53,014 shares. Based on an average daily volume of 65,895 shares, the short-interest ratio is presently 0.4 days. Currently, 0.0% of the company’s shares are sold short.

Evotec Price Performance

Evotec stock traded up $0.02 during trading on Thursday, reaching $1.95. The company had a trading volume of 34,022 shares, compared to its average volume of 98,900. Evotec has a 12-month low of $1.91 and a 12-month high of $4.27. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.68 and a quick ratio of 1.60. The stock’s 50 day moving average price is $2.61 and its two-hundred day moving average price is $2.94.

Analysts Set New Price Targets

EVO has been the subject of a number of analyst reports. HC Wainwright cut their price objective on shares of Evotec from $7.00 to $4.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. Berenberg Bank lowered shares of Evotec from a “buy” rating to a “hold” rating in a research report on Thursday, July 16th. TD Cowen cut shares of Evotec from a “buy” rating to a “hold” rating and set a $2.00 target price for the company. in a research note on Wednesday, July 15th. Wall Street Zen downgraded Evotec from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Evotec in a report on Tuesday, July 21st. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Evotec has a consensus rating of “Hold” and a consensus price target of $3.00.

Institutional Trading of Evotec

Institutional investors and hedge funds have recently made changes to their positions in the company. ABC Arbitrage SA boosted its holdings in Evotec by 319.7% in the fourth quarter. ABC Arbitrage SA now owns 554,287 shares of the company’s stock valued at $1,707,000 after acquiring an additional 422,230 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Evotec by 25.7% in 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 during the period. Optiver Holding B.V. lifted its stake in shares of Evotec by 598.4% in the 1st quarter. Optiver Holding B.V. now owns 283,576 shares of the company’s stock valued at $709,000 after purchasing an additional 242,973 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Evotec in the 4th quarter valued at about $565,000. Finally, Millennium Management LLC purchased a new stake in shares of Evotec during the 4th quarter worth about $317,000. 5.81% of the stock is currently owned by institutional investors and hedge funds.

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.