Evotec (NASDAQ:EVO) Shares Gap Down – Should You Sell?

Evotec AG (NASDAQ:EVO)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $2.67, but opened at $2.56. Evotec shares last traded at $2.5450, with a volume of 33,035 shares traded.

Wall Street Analysts Forecast Growth

EVO has been the subject of several research reports. Wall Street Zen raised Evotec from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Berenberg Bank initiated coverage on Evotec in a research note on Tuesday, February 3rd. They set a “buy” rating on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Evotec in a research report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $7.00.

Evotec Trading Down 0.4%

The business’s 50 day simple moving average is $3.44 and its 200-day simple moving average is $3.45. The company has a quick ratio of 2.03, a current ratio of 2.12 and a debt-to-equity ratio of 0.48.

Institutional Investors Weigh In On Evotec

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ABC Arbitrage SA boosted its holdings in Evotec by 319.7% during the fourth quarter. ABC Arbitrage SA now owns 554,287 shares of the company’s stock worth $1,707,000 after buying an additional 422,230 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Evotec by 25.7% in the 4th quarter. Wellington Management Group LLP now owns 1,797,444 shares of the company’s stock valued at $5,536,000 after acquiring an additional 367,545 shares during the period. DCF Advisers LLC boosted its stake in Evotec by 48.3% during the 2nd quarter. DCF Advisers LLC now owns 1,114,493 shares of the company’s stock worth $4,681,000 after acquiring an additional 362,914 shares during the last quarter. Pitcairn Co. acquired a new position in Evotec during the second quarter valued at approximately $1,097,000. Finally, Jane Street Group LLC bought a new stake in Evotec in the fourth quarter valued at approximately $565,000. Institutional investors 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.