Evotec AG (NASDAQ:EVO) Short Interest Update

Evotec AG (NASDAQ:EVO) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 91,437 shares, an increase of 80.2% from the August 15th total of 50,740 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 36,520 shares, the days-to-cover ratio is presently 2.5 days.

Analyst Ratings Changes

Several research firms have weighed in on EVO. Weiss Ratings cut shares of Evotec from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 25th. Berenberg Bank downgraded Evotec from a “buy” rating to a “hold” rating in a research report on Thursday, July 16th. TD Cowen lowered Evotec from a “buy” rating to a “hold” rating and set a $2.00 target price on the stock. in a research note on Wednesday, July 15th. Finally, HC Wainwright reduced their price target on Evotec from $7.00 to $4.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Evotec presently has a consensus rating of “Hold” and an average target price of $3.00.

Evotec Stock Performance

EVO remained flat at $1.63 on Wednesday. 24,906 shares of the company traded hands, compared to its average volume of 91,663. The company has a quick ratio of 2.21, a current ratio of 2.33 and a debt-to-equity ratio of 0.62. Evotec has a 1-year low of $1.60 and a 1-year high of $4.27. The company has a 50 day moving average of $1.99 and a 200-day moving average of $2.53.

Institutional Investors Weigh In On Evotec

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Apollon Wealth Management LLC bought a new position in shares of Evotec in the 1st quarter valued at $28,000. SmartHarvest Portfolios LLC bought a new position in Evotec in the first quarter valued at about $44,000. Fore Capital LLC bought a new position in Evotec in the fourth quarter valued at about $97,000. Optiver Holding B.V. raised its stake in Evotec by 598.4% during the first quarter. Optiver Holding B.V. now owns 283,576 shares of the company’s stock worth $709,000 after acquiring an additional 242,973 shares in the last quarter. Finally, WCM Investment Management LLC lifted its holdings in shares of Evotec by 12.1% in the first quarter. WCM Investment Management LLC now owns 627,260 shares of the company’s stock worth $1,480,000 after acquiring an additional 67,917 shares during the last quarter. 5.81% of the stock is currently owned by institutional investors.

Evotec Company Profile

Evotec SE is a Germany-based biotechnology company that provides drug discovery and development services to pharmaceutical, biotechnology and academic organizations. The company works across the research process, from early-stage target identification and assay development through hit identification, lead optimization, preclinical research and translational development.

Evotec uses technology platforms and scientific expertise in areas including small-molecule drug discovery, biologics, protein degradation, cell and gene therapy, and precision medicine.