Evotec (NASDAQ:EVO) Sets New 52-Week Low – What’s Next?

Evotec AG (NASDAQ:EVOGet Free Report) shares reached a new 52-week low during trading on Monday . The stock traded as low as $1.56 and last traded at $1.5550, with a volume of 99869 shares changing hands. The stock had previously closed at $1.60.

Key Stories Impacting Evotec

Here are the key news stories impacting Evotec this week:

Analyst Ratings Changes

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

Check Out Our Latest Stock Report on EVO

Evotec Price Performance

The company has a current ratio of 2.33, a quick ratio of 2.21 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average price of $1.89 and a 200-day moving average price of $2.48.

Institutional Investors Weigh In On Evotec

Several large investors have recently bought and sold shares of EVO. Apollon Wealth Management LLC bought a new position in Evotec during the first quarter worth about $28,000. SmartHarvest Portfolios LLC acquired a new stake in shares of Evotec during the first quarter worth about $44,000. Fore Capital LLC bought a new position in shares of Evotec during the 4th quarter valued at about $97,000. WCM Investment Management LLC lifted its holdings 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 valued at $1,480,000 after purchasing an additional 67,917 shares in the last quarter. Finally, Optiver Holding B.V. grew its position in shares of Evotec by 598.4% in the 1st quarter. Optiver Holding B.V. now owns 283,576 shares of the company’s stock valued at $709,000 after purchasing an additional 242,973 shares during the period. Institutional investors own 5.81% of the company’s stock.

About Evotec

(Get Free Report)

Evotec SE is a Germany-based biotechnology company that provides drug discovery and development services to pharmaceutical, biotechnology and academic organizations. The company works across the research process, from early-stage target identification and assay development through hit identification, lead optimization, preclinical research and translational development.

Evotec uses technology platforms and scientific expertise in areas including small-molecule drug discovery, biologics, protein degradation, cell and gene therapy, and precision medicine.

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