Evotec (NASDAQ:EVO) Shares Gap Down – What’s Next?

Evotec AG (NASDAQ:EVO)’s share price gapped down before the market opened on Monday . The stock had previously closed at $4.26, but opened at $3.71. Evotec shares last traded at $3.71, with a volume of 133,487 shares changing hands.

Wall Street Analyst Weigh In

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

Evotec Stock Performance

The company has a current ratio of 2.03, a quick ratio of 1.93 and a debt-to-equity ratio of 0.46. The firm has a fifty day simple moving average of $4.13 and a 200 day simple moving average of $4.02.

Hedge Funds Weigh In On Evotec

Several large investors have recently bought and sold shares of the company. DCF Advisers LLC boosted its stake in Evotec by 227.0% in the 1st quarter. DCF Advisers LLC now owns 751,579 shares of the company’s stock worth $2,510,000 after purchasing an additional 521,708 shares during the period. ABC Arbitrage SA bought a new position in shares of Evotec during the 1st quarter valued at approximately $260,000. Lighthouse Investment Partners LLC bought a new position in shares of Evotec during the 4th quarter worth $166,000. UMB Bank n.a. acquired a new stake in Evotec in the second quarter worth about $56,000. Finally, Bank of America Corp DE raised 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 purchasing an additional 9,289 shares during the last quarter. 5.81% of the stock is currently owned by institutional investors.

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.