Evotec (NASDAQ:EVO) Stock Price Down 2.7% – Here’s Why

Evotec SE (NASDAQ:EVO) dropped 2.7% during mid-day trading on Friday . The company traded as low as $4.67 and last traded at $4.70. Approximately 12,596 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 133,833 shares. The stock had previously closed at $4.83.

Analysts Set New Price Targets

A number of research firms recently issued reports on EVO. HC Wainwright restated a “buy” rating and set a $8.00 price target on shares of Evotec in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lowered shares of Evotec from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Finally, Jefferies Financial Group downgraded shares of Evotec from a “buy” rating to a “hold” rating and reduced their price target for the company from $8.70 to $3.80 in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.93.

Evotec Trading Down 3.1 %

The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 0.43. The stock has a fifty day moving average price of $3.93 and a 200-day moving average price of $4.19.

Hedge Funds Weigh In On Evotec

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

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.