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

Evotec AG (NASDAQ:EVO)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $3.03, but opened at $2.92. Evotec shares last traded at $2.90, with a volume of 2,931 shares.

Analyst Ratings Changes

Several brokerages have recently weighed in on EVO. Berenberg Bank began coverage on Evotec in a report on Tuesday, February 3rd. They set a “buy” rating on the stock. Wall Street Zen cut Evotec from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings upgraded Evotec from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, April 24th. Finally, HC Wainwright assumed coverage on Evotec in a report on Wednesday, April 15th. They set a “buy” rating and a $7.00 target price on the stock. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $7.00.

Evotec Stock Performance

The business has a fifty day moving average of $2.81 and a 200 day moving average of $3.11. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.68 and a quick ratio of 1.60.

Evotec (NASDAQ:EVO) last released its quarterly earnings data on Tuesday, March 31st. The company reported $0.05 EPS for the quarter. Evotec had a negative return on equity of 24.93% and a negative net margin of 26.20%.The firm had revenue of $297.02 million for the quarter. As a group, analysts anticipate that Evotec AG will post -0.63 EPS for the current year.

Institutional Trading of Evotec

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EVO. ABC Arbitrage SA raised its position in Evotec by 319.7% in the fourth quarter. ABC Arbitrage SA now owns 554,287 shares of the company’s stock valued at $1,707,000 after purchasing an additional 422,230 shares during the period. Wellington Management Group LLP raised its position in Evotec by 25.7% in the fourth quarter. Wellington Management Group LLP now owns 1,797,444 shares of the company’s stock valued at $5,536,000 after purchasing an additional 367,545 shares during the period. Jane Street Group LLC purchased a new stake in Evotec in the fourth quarter valued at approximately $565,000. Millennium Management LLC purchased a new stake in Evotec in the fourth quarter valued at approximately $317,000. Finally, DCF Advisers LLC raised its position in Evotec by 7.6% in the third quarter. DCF Advisers LLC now owns 1,198,993 shares of the company’s stock valued at $4,352,000 after purchasing an additional 84,500 shares during the period. Hedge funds and other institutional investors own 5.81% of the company’s stock.

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.