Evotec (NASDAQ:EVO) Shares Gap Down – Time to Sell?

Evotec SE (NASDAQ:EVO) gapped down before the market opened on Tuesday . The stock had previously closed at $4.89, but opened at $4.72. Evotec shares last traded at $4.68, with a volume of 8,483 shares trading hands.

Wall Street Analyst Weigh In

Several analysts recently issued reports on EVO shares. HC Wainwright reaffirmed a “buy” rating and set a $8.00 price objective on shares of Evotec in a research note on Thursday, November 7th. Morgan Stanley cut shares of Evotec from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $15.00 to $6.00 in a research note on Monday, July 29th. Jefferies Financial Group cut shares of Evotec from a “buy” rating to a “hold” rating and dropped their price objective for the company from $8.70 to $3.80 in a research note on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Evotec from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $5.93.

Evotec Trading Down 3.3 %

The firm’s fifty day moving average price is $3.86 and its 200 day moving average price is $4.18. The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 0.43.

Hedge Funds Weigh In On Evotec

Several large investors have recently made changes to their positions in EVO. Novo Holdings A S acquired a new stake in Evotec during the 2nd quarter worth approximately $71,183,000. Cetera Advisors LLC acquired a new stake in Evotec during the 1st quarter worth approximately $188,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Evotec during the 2nd quarter worth approximately $87,000. DCF Advisers LLC lifted its holdings in Evotec by 140.5% during the 2nd quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock worth $552,000 after buying an additional 67,156 shares in the last quarter. Finally, Mediolanum International Funds Ltd acquired a new stake in Evotec during the 3rd quarter worth approximately $512,000. 5.81% of the stock is currently owned by institutional investors and hedge funds.

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.