Evotec (NASDAQ:EVO) Shares Gap Down – Here’s Why

Evotec SE (NASDAQ:EVO) shares gapped down prior to trading on Wednesday . The stock had previously closed at $4.28, but opened at $4.10. Evotec shares last traded at $4.07, with a volume of 10,223 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of Evotec from a “sell” rating to a “hold” rating in a research report on Thursday, April 24th. Royal Bank of Canada reissued an “outperform” rating on shares of Evotec in a research report on Thursday, May 15th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Evotec has an average rating of “Hold” and a consensus price target of $5.93.

Evotec Price Performance

The stock’s fifty day simple moving average is $3.76 and its 200-day simple moving average is $4.18. The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 0.43.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets purchased a new position in shares of Evotec in the fourth quarter worth $27,000. CSS LLC IL acquired a new stake in shares of Evotec in the fourth quarter worth $50,000. Bank of America Corp DE increased its stake in shares of Evotec by 262.5% in the fourth quarter. Bank of America Corp DE now owns 12,828 shares of the company’s stock worth $53,000 after acquiring an additional 9,289 shares during the period. Lighthouse Investment Partners LLC acquired a new stake in shares of Evotec in the fourth quarter worth $166,000. Finally, ABC Arbitrage SA acquired a new stake in shares of Evotec in the first quarter worth $260,000. Hedge funds and other institutional investors own 5.81% of the company’s stock.

About Evotec

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.