Evotec AG (NASDAQ:EVO) Shares Shorted: Short Interest Up 246.7% in October

Evotec AG (NASDAQ:EVO) saw a significant growth in short interest in 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. Currently, 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 131,778 shares, the short-interest ratio is presently 0.6 days.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Weiss Ratings lowered Evotec from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 25th. Berenberg Bank cut Evotec from a “buy” rating to a “hold” rating in a research report on Thursday, July 16th. TD Cowen downgraded Evotec from a “buy” rating to a “hold” rating and set a $2.00 price target on the stock. in a report on Wednesday, July 15th. Finally, HC Wainwright reissued a “buy” rating and issued a $4.00 price target on shares of Evotec in a research report on Wednesday, October 14th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $3.00.

Evotec Trading Down 1.6%

Shares of NASDAQ:EVO traded down $0.03 during trading on Thursday, reaching $1.58. The stock had a trading volume of 64,144 shares, compared to its average volume of 101,766. Evotec has a one year low of $1.33 and a one year high of $4.12. The company has a quick ratio of 2.21, a current ratio of 2.33 and a debt-to-equity ratio of 0.62. The firm’s 50-day simple moving average is $1.66 and its 200 day simple moving average is $2.55.

Institutional Investors Weigh In On Evotec

Several institutional investors have recently bought and sold shares of the company. Apollon Wealth Management LLC acquired a new position in shares of Evotec during the first quarter worth $28,000. Optiver Holding B.V. lifted its holdings in shares of Evotec by 598.4% during 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 last quarter. Finally, 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 during the last quarter. 5.81% of the stock is currently owned by institutional investors and hedge funds.

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.