Evotec (NASDAQ:EVO) Shares Gap Up to $3.41

Evotec SE (NASDAQ:EVO) gapped up prior to trading on Monday . The stock had previously closed at $3.41, but opened at $3.54. Evotec shares last traded at $3.54, with a volume of 1,996 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EVO. HC Wainwright cut their target price on shares of Evotec from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft cut Evotec from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Finally, Morgan Stanley lowered Evotec from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $15.00 to $6.00 in a report on Monday, July 29th.

Evotec Stock Performance

The company has a current ratio of 1.83, a quick ratio of 1.73 and a debt-to-equity ratio of 0.42. The company has a fifty day moving average price of $3.98 and a two-hundred day moving average price of $5.26.

Institutional Trading of Evotec

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Quadrant Capital Group LLC purchased a new stake in Evotec in the 4th quarter valued at about $25,000. Optiver Holding B.V. lifted its holdings in shares of Evotec by 643.1% in the 4th quarter. Optiver Holding B.V. now owns 80,810 shares of the company’s stock worth $945,000 after acquiring an additional 69,936 shares during the last quarter. Mubadala Investment Co PJSC purchased a new position in shares of Evotec during the 4th quarter worth approximately $53,931,000. Cetera Advisors LLC acquired a new stake in Evotec in the 1st quarter valued at approximately $188,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in Evotec in the second quarter valued at approximately $87,000. Institutional investors and hedge funds own 5.81% of the company’s stock.

Evotec Company Profile

Evotec SE operates as drug discovery and development partner for the pharmaceutical and biotechnology industry worldwide. The company is developing pharmaceutical products in various therapeutic areas, such as autoimmune diseases, cancer, CNS diseases, diabetes, fibrosis, immunology, infectious diseases, kidney diseases, liver diseases, pain and inflammation, rare diseases, respiratory diseases, tuberculosis, and women's health.