Evotec (NASDAQ:EVO) Shares Gap Down – Should You Sell?

Evotec AG (NASDAQ:EVO)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $3.30, but opened at $3.11. Evotec shares last traded at $3.0910, with a volume of 18,257 shares.

Analyst Ratings Changes

A number of analysts have weighed in on EVO shares. Berenberg Bank assumed coverage on Evotec in a research report on Tuesday, February 3rd. They issued a “buy” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Evotec in a research note on Monday, December 29th. Wall Street Zen upgraded Evotec from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Finally, HC Wainwright assumed coverage on Evotec in a research note on Wednesday, April 15th. They issued a “buy” rating and a $7.00 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $7.00.

Evotec Stock Performance

The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.99 and a current ratio of 2.07. The firm has a 50 day moving average of $2.91 and a 200-day moving average of $3.27.

Evotec (NASDAQ:EVO) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $0.05 earnings per share (EPS) for the quarter. Evotec had a negative return on equity of 12.40% and a negative net margin of 13.13%.The firm had revenue of $297.02 million for the quarter. Analysts anticipate that Evotec AG will post -0.59 EPS for the current fiscal year.

Hedge Funds Weigh In On Evotec

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Apollon Wealth Management LLC bought a new position in Evotec during the first quarter valued at about $28,000. Marshall Wace LLP acquired a new stake in Evotec during the fourth quarter valued at approximately $40,000. SmartHarvest Portfolios LLC acquired a new stake in Evotec during the first quarter valued at approximately $44,000. BNP Paribas Financial Markets boosted its holdings in Evotec by 62.2% during the second quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company’s stock valued at $50,000 after purchasing an additional 4,600 shares in the last quarter. Finally, Thrivent Financial for Lutherans acquired a new stake in Evotec during the third quarter valued at approximately $53,000. 5.81% of the stock is currently owned by institutional investors.

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.