Evotec AG (NASDAQ:EVO) Sees Significant Decline in Short Interest

Evotec AG (NASDAQ:EVO) was the recipient of a large decline in short interest in July. As of July 15th, there was short interest totaling 28,249 shares, a decline of 46.7% from the June 30th total of 53,014 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 65,895 shares, the short-interest ratio is currently 0.4 days.

Analyst Ratings Changes

A number of brokerages recently issued reports on EVO. Weiss Ratings reiterated a “sell (d-)” rating on shares of Evotec in a research report on Tuesday, July 21st. HC Wainwright reduced their target price on Evotec from $7.00 to $4.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. Wall Street Zen lowered Evotec from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Berenberg Bank cut Evotec from a “buy” rating to a “hold” rating in a report on Thursday, July 16th. Finally, TD Cowen downgraded Evotec from a “buy” rating to a “hold” rating and set a $2.00 price target for the company. in a research report on Wednesday, July 15th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $3.00.

Evotec Stock Performance

Shares of NASDAQ:EVO traded down $0.02 during trading on Friday, reaching $1.91. The company had a trading volume of 34,104 shares, compared to its average volume of 98,522. The company has a fifty day moving average of $2.59 and a two-hundred day moving average of $2.92. Evotec has a 12 month low of $1.90 and a 12 month high of $4.27. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.68 and a quick ratio of 1.60.

Institutional Investors Weigh In On Evotec

A number of large investors have recently added to or reduced their stakes in EVO. ABC Arbitrage SA raised its position in Evotec by 319.7% in the 4th quarter. ABC Arbitrage SA now owns 554,287 shares of the company’s stock worth $1,707,000 after purchasing an additional 422,230 shares during the period. Bank of America Corp DE boosted its stake in shares of Evotec by 427.4% during the 2nd quarter. Bank of America Corp DE now owns 20,506 shares of the company’s stock valued at $86,000 after purchasing an additional 16,618 shares in the last quarter. HRT Financial LP purchased a new position in shares of Evotec during the fourth quarter valued at about $72,000. XTX Topco Ltd purchased a new stake in Evotec in the second quarter worth about $66,000. Finally, BNP Paribas Financial Markets boosted its position in Evotec by 62.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company’s stock valued at $50,000 after acquiring an additional 4,600 shares in the last quarter. Hedge funds and other institutional investors own 5.81% of the company’s stock.

Evotec Company Profile

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.