Evotec (NASDAQ:EVO) Trading Down 8% – What’s Next?

Shares of Evotec AG (NASDAQ:EVO) fell 8% during trading on Friday . The company traded as low as $3.01 and last traded at $3.0450. 82,026 shares changed hands during mid-day trading, a decline of 3% from the average session volume of 84,358 shares. The stock had previously closed at $3.31.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on EVO shares. HC Wainwright lowered their target price on Evotec from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, August 14th. Weiss Ratings reissued a “sell (e+)” rating on shares of Evotec in a report on Wednesday. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Evotec in a research note on Wednesday, September 3rd. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Evotec has a consensus rating of “Hold” and a consensus price target of $7.00.

Evotec Trading Down 6.9%

The company has a current ratio of 1.58, a quick ratio of 1.49 and a debt-to-equity ratio of 0.42. The firm has a fifty day moving average of $3.75 and a 200 day moving average of $3.94.

Institutional Investors Weigh In On Evotec

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE increased its stake in shares of Evotec by 262.5% during the 4th quarter. Bank of America Corp DE now owns 12,828 shares of the company’s stock worth $53,000 after purchasing an additional 9,289 shares during the last quarter. DCF Advisers LLC grew its holdings in Evotec by 227.0% in the 1st quarter. DCF Advisers LLC now owns 751,579 shares of the company’s stock valued at $2,510,000 after buying an additional 521,708 shares during the last quarter. ABC Arbitrage SA bought a new stake in shares of Evotec in the first quarter valued at approximately $260,000. UMB Bank n.a. acquired a new stake in Evotec in the 2nd quarter worth $56,000. Finally, Valeo Financial Advisors LLC acquired a new stake in Evotec during the second quarter worth about $43,000. 5.81% of the stock is owned by institutional investors and hedge funds.

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.