Evotec AG (NASDAQ:EVO) Short Interest Up 68.6% in July

Evotec AG (NASDAQ:EVO) was the recipient of a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 47,630 shares, an increase of 68.6% from the July 15th total of 28,249 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily volume of 48,877 shares, the days-to-cover ratio is presently 1.0 days.

Institutional Trading of Evotec

Hedge funds have recently made changes to their positions in the company. ABC Arbitrage SA raised its stake in 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 acquiring an additional 422,230 shares during the period. Marshall Wace LLP bought a new position in Evotec during the fourth quarter worth about $40,000. HRT Financial LP purchased a new position in shares of Evotec in the fourth quarter worth about $72,000. Goldman Sachs Group Inc. bought a new stake in shares of Evotec in the fourth quarter valued at approximately $110,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of Evotec by 62.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company’s stock valued at $50,000 after buying an additional 4,600 shares in the last quarter. 5.81% of the stock is currently owned by institutional investors.

Evotec Stock Performance

Shares of NASDAQ:EVO remained flat at $1.96 during mid-day trading on Monday. 30,200 shares of the company were exchanged, compared to its average volume of 97,447. The company has a current ratio of 2.33, a quick ratio of 2.21 and a debt-to-equity ratio of 0.62. The company has a 50 day simple moving average of $2.38 and a 200-day simple moving average of $2.80. Evotec has a 52 week low of $1.90 and a 52 week high of $4.27.

Analyst Ratings Changes

EVO has been the topic of several recent analyst reports. Berenberg Bank cut shares of Evotec from a “buy” rating to a “hold” rating in a research report on Thursday, July 16th. Wall Street Zen lowered Evotec from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. TD Cowen cut Evotec from a “buy” rating to a “hold” rating and set a $2.00 price objective on the stock. in a research report on Wednesday, July 15th. HC Wainwright reduced their price objective on Evotec from $7.00 to $4.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Evotec in a research report on Tuesday, July 21st. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $3.00.

Evotec Company Profile

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.