Evotec (NASDAQ:EVO) Shares Gap Up – Here’s Why

Evotec SE (NASDAQ:EVO)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $4.16, but opened at $4.32. Evotec shares last traded at $4.29, with a volume of 6,705 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EVO. Jefferies Financial Group lowered shares of Evotec from a “buy” rating to a “hold” rating and decreased their price target for the company from $8.70 to $3.80 in a report on Monday, October 7th. HC Wainwright reissued a “buy” rating and set a $8.00 price target on shares of Evotec in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Evotec has an average rating of “Hold” and a consensus target price of $5.93.

Evotec Trading Up 4.4 %

The firm has a 50-day moving average of $4.58 and a 200 day moving average of $4.13. The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 0.43.

Institutional Investors Weigh In On Evotec

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP raised its stake in shares of Evotec by 29.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,634,434 shares of the company’s stock valued at $9,616,000 after purchasing an additional 602,858 shares in the last quarter. Clear Harbor Asset Management LLC acquired a new position in shares of Evotec during the third quarter valued at $104,000. Mediolanum International Funds Ltd acquired a new position in Evotec during the 3rd quarter valued at about $512,000. Novo Holdings A S bought a new position in Evotec in the 2nd quarter worth approximately $71,183,000. Finally, DCF Advisers LLC grew its stake in shares of Evotec by 140.5% in the second quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock worth $552,000 after purchasing an additional 67,156 shares in the last quarter. 5.81% of the stock is currently owned by hedge funds and other institutional investors.

Evotec Company Profile

Evotec SE operates as drug discovery and development partner for the pharmaceutical and biotechnology industry worldwide. The company is developing pharmaceutical products in various therapeutic areas, such as autoimmune diseases, cancer, CNS diseases, diabetes, fibrosis, immunology, infectious diseases, kidney diseases, liver diseases, pain and inflammation, rare diseases, respiratory diseases, tuberculosis, and women’s health.