Evotec (NASDAQ:EVO) Stock Price Down 16.1% – Here’s Why

Shares of Evotec AG (NASDAQ:EVO) fell 16.1% on Monday . The stock traded as low as $2.35 and last traded at $2.34. Approximately 80,557 shares traded hands during trading, a decline of 20% from the average session volume of 100,118 shares. The stock had previously closed at $2.79.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on EVO shares. HC Wainwright started coverage on shares of Evotec in a research note on Wednesday, April 15th. They issued a “buy” rating and a $7.00 price target on the stock. Wall Street Zen lowered Evotec from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings upgraded Evotec from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, April 24th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $7.00.

Evotec Stock Performance

The business has a 50-day moving average price of $2.85 and a two-hundred day moving average price of $3.05. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.60 and a current ratio of 1.68.

Evotec (NASDAQ:EVO) last released its earnings results on Tuesday, March 31st. The company reported $0.05 earnings per share (EPS) for the quarter. Evotec had a negative return on equity of 24.93% and a negative net margin of 26.20%.The firm had revenue of $297.02 million during the quarter. Analysts predict that Evotec AG will post -0.63 EPS for the current year.

Institutional Investors Weigh In On Evotec

A number of hedge funds have recently bought and sold shares of the stock. ABC Arbitrage SA boosted its stake in shares of Evotec by 319.7% in the 4th quarter. ABC Arbitrage SA now owns 554,287 shares of the company’s stock valued at $1,707,000 after buying an additional 422,230 shares during the period. Wellington Management Group LLP increased its stake in shares of Evotec by 25.7% during the fourth quarter. Wellington Management Group LLP now owns 1,797,444 shares of the company’s stock worth $5,536,000 after buying an additional 367,545 shares during the period. Optiver Holding B.V. increased its stake in shares of Evotec by 598.4% during the first quarter. Optiver Holding B.V. now owns 283,576 shares of the company’s stock worth $709,000 after buying an additional 242,973 shares during the period. Jane Street Group LLC acquired a new stake in Evotec in the fourth quarter valued at approximately $565,000. Finally, Millennium Management LLC acquired a new stake in Evotec in the fourth quarter valued at approximately $317,000. Institutional investors and hedge funds own 5.81% of the company’s stock.

About Evotec

Evotec SE (NASDAQ:EVO) is a global biotechnology company headquartered in Hamburg, Germany, specializing in drug discovery and development partnerships. The company leverages its integrated discovery platforms to support pharmaceutical and biotech clients in advancing novel therapies from target identification through preclinical development.

Evotec’s service offering encompasses high-throughput screening, bioanalytics, combinatorial chemistry, structural biology, pharmacology, and computational drug design.