Evotec AG (NASDAQ:EVO) Sees Large Drop in Short Interest

Evotec AG (NASDAQ:EVO) was the target of a large drop in short interest in September. As of September 30th, there was short interest totaling 22,066 shares, a drop of 78.5% from the September 15th total of 102,492 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily volume of 241,452 shares, the short-interest ratio is presently 0.1 days.

Institutional Trading of Evotec

Several large investors have recently added to or reduced their stakes in EVO. Apollon Wealth Management LLC purchased a new stake in Evotec during the first quarter valued at approximately $28,000. SmartHarvest Portfolios LLC bought a new position in Evotec in the first quarter worth approximately $44,000. Optiver Holding B.V. boosted its stake in shares of Evotec by 598.4% during the 1st 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 during the last quarter. Finally, WCM Investment Management LLC boosted its stake in shares of Evotec by 12.1% during the 1st 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.

Analyst Upgrades and Downgrades

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

Evotec Stock Performance

Shares of Evotec stock traded down $0.04 during trading hours on Friday, reaching $1.53. 40,005 shares of the stock traded hands, compared to its average volume of 189,386. The company has a 50 day moving average price of $1.80 and a 200 day moving average price of $2.38. Evotec has a one year low of $1.50 and a one year high of $4.27. The company has a current ratio of 2.33, a quick ratio of 2.21 and a debt-to-equity ratio of 0.62.

Evotec Company Profile

Evotec SE is a life sciences company headquartered in Hamburg, Germany, that provides drug discovery and development services to pharmaceutical, biotechnology and academic partners. Founded in 1993, the company supports programs from early-stage research through preclinical and clinical development, with expertise in small-molecule and biologic therapies.

Its activities include target identification and validation, screening, medicinal chemistry, pharmacology, drug manufacturing support and development services.