Evotec (NASDAQ:EVO) Shares Gap Up – What’s Next?

Evotec SE (NASDAQ:EVO) shares gapped up prior to trading on Thursday . The stock had previously closed at $4.27, but opened at $4.38. Evotec shares last traded at $4.37, with a volume of 7,638 shares traded.

Analysts Set New Price Targets

EVO has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft upgraded Evotec from a “sell” rating to a “hold” rating in a report on Thursday, April 24th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Evotec in a research report on Thursday, May 15th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $5.93.

Evotec Trading Down 3.8%

The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 0.43. The company has a 50-day simple moving average of $3.97 and a 200 day simple moving average of $4.11.

Institutional Trading of Evotec

Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets bought a new stake in shares of Evotec during the fourth quarter valued at approximately $27,000. CSS LLC IL bought a new stake in shares of Evotec during the fourth quarter valued at approximately $50,000. Bank of America Corp DE increased its position in shares of Evotec by 262.5% during the fourth quarter. Bank of America Corp DE now owns 12,828 shares of the company’s stock valued at $53,000 after purchasing an additional 9,289 shares during the period. Lighthouse Investment Partners LLC bought a new stake in shares of Evotec during the fourth quarter valued at approximately $166,000. Finally, ABC Arbitrage SA bought a new stake in shares of Evotec during the first quarter valued at approximately $260,000. 5.81% of the stock is currently owned by institutional investors.

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.