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

Evotec AG (NASDAQ:EVO) was the target of a large growth in short interest during the month of October. As of October 15th, there was short interest totaling 76,498 shares, a growth of 246.7% from the September 30th total of 22,066 shares. Based on an average daily volume of 131,778 shares, the short-interest ratio is currently 0.6 days. Currently, 0.0% of the shares of the company are short sold.

Institutional Investors Weigh In On Evotec

A number of institutional investors and hedge funds have recently modified their holdings of EVO. Apollon Wealth Management LLC purchased a new stake in Evotec during the first quarter worth $28,000. Optiver Holding B.V. increased its position in shares of Evotec by 598.4% in the first quarter. Optiver Holding B.V. now owns 283,576 shares of the company’s stock valued at $709,000 after buying an additional 242,973 shares in the last quarter. Finally, WCM Investment Management LLC increased its position in shares of Evotec by 12.1% in the first quarter. WCM Investment Management LLC now owns 627,260 shares of the company’s stock valued at $1,480,000 after buying an additional 67,917 shares in the last quarter. Institutional investors and hedge funds own 5.81% of the company’s stock.

Evotec Stock Performance

Shares of EVO traded down $0.05 during trading hours on Friday, reaching $1.53. The company had a trading volume of 17,364 shares, compared to its average volume of 101,359. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.21 and a current ratio of 2.33. Evotec has a 12-month low of $1.33 and a 12-month high of $4.09. The firm has a 50 day simple moving average of $1.66 and a 200-day simple moving average of $2.54.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $4.00 target price on shares of Evotec in a report on Wednesday, October 14th. 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 note on Wednesday, July 15th. Berenberg Bank lowered Evotec from a “buy” rating to a “hold” rating in a report on Thursday, July 16th. Finally, Weiss Ratings downgraded Evotec from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 25th. One investment 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $3.00.

About Evotec

Evotec SE is a Germany-based biotechnology company that provides drug discovery and development services to pharmaceutical, biotechnology and academic research organizations. The company combines scientific expertise, proprietary technologies and integrated research platforms to identify and advance potential medicines across multiple therapeutic areas, including neuroscience, oncology, metabolic disease, infectious disease and inflammation.

Evotec’s activities span early-stage target identification, compound screening, medicinal chemistry, pharmacology, preclinical research and selected clinical development services.