Evotec AG (NASDAQ:EVO) Sees Large Decline in Short Interest

Evotec AG (NASDAQ:EVO) saw a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 22,066 shares, a decrease of 78.5% from the September 15th total of 102,492 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 241,452 shares, the short-interest ratio is presently 0.1 days.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Weiss Ratings lowered shares of Evotec from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 25th. TD Cowen downgraded Evotec from a “buy” rating to a “hold” rating and set a $2.00 price target on the stock. in a research note on Wednesday, July 15th. HC Wainwright dropped their price target on Evotec from $7.00 to $4.00 and set a “buy” rating on the stock in a research note on Wednesday, July 15th. Finally, Berenberg Bank lowered Evotec from a “buy” rating to a “hold” rating in a report on Thursday, July 16th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $3.00.

Evotec Stock Down 10.5%

EVO stock traded down $0.16 during midday trading on Monday, reaching $1.37. 182,467 shares of the company’s stock traded hands, compared to its average volume of 189,260. Evotec has a 52-week low of $1.36 and a 52-week high of $4.27. 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 stock’s 50-day moving average is $1.79 and its 200 day moving average is $2.38.

Institutional Investors Weigh In On Evotec

A number of hedge funds have recently modified their holdings of EVO. Optiver Holding B.V. increased its stake in shares of Evotec by 598.4% in the 1st quarter. Optiver Holding B.V. now owns 283,576 shares of the company’s stock worth $709,000 after purchasing an additional 242,973 shares in the last quarter. WCM Investment Management LLC lifted its position in Evotec by 12.1% during the first 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 in the last quarter. Apollon Wealth Management LLC purchased a new position in Evotec during the first quarter valued at $28,000. Finally, SmartHarvest Portfolios LLC purchased a new position in Evotec during the first quarter valued at $44,000. Institutional investors own 5.81% of the company’s stock.

Evotec Company Profile

Evotec SE is a life sciences company headquartered in Hamburg, Germany, that provides drug discovery and development services to pharmaceutical, biotechnology and academic partners. Founded in 1993, the company supports programs from early-stage research through preclinical and clinical development, with expertise in small-molecule and biologic therapies.

Its activities include target identification and validation, screening, medicinal chemistry, pharmacology, drug manufacturing support and development services.