Evotec (NASDAQ:EVO) Reaches New 52-Week Low – Should You Sell?

Evotec AG (NASDAQ:EVO)’s stock price reached a new 52-week low during trading on Tuesday . The stock traded as low as $1.91 and last traded at $1.92, with a volume of 106393 shares changing hands. The stock had previously closed at $1.94.

Analysts Set New Price Targets

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

Evotec Trading Down 1.0%

The company has a current ratio of 1.68, a quick ratio of 1.60 and a debt-to-equity ratio of 0.43. The company’s 50 day moving average is $2.64 and its 200-day moving average is $2.96.

Institutional Trading of Evotec

Hedge funds and other institutional investors have recently modified their holdings of the business. ABC Arbitrage SA lifted its stake in shares of Evotec by 319.7% in the fourth quarter. ABC Arbitrage SA now owns 554,287 shares of the company’s stock worth $1,707,000 after acquiring an additional 422,230 shares in the last quarter. Wellington Management Group LLP grew its stake in Evotec by 25.7% during the 4th 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 in the last quarter. Jane Street Group LLC acquired a new stake in Evotec during the 4th quarter valued at approximately $565,000. Millennium Management LLC purchased a new stake in Evotec during the 4th quarter worth approximately $317,000. Finally, Goldman Sachs Group Inc. purchased a new stake in Evotec during the 4th quarter worth approximately $110,000. 5.81% of the stock is owned by hedge funds and other 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.