Evotec (NASDAQ:EVO) Shares Down 3.6% – Here’s Why

Evotec SE (NASDAQ:EVO)’s stock price fell 3.6% during trading on Tuesday . The stock traded as low as $4.02 and last traded at $4.03. 20,210 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 54,748 shares. The stock had previously closed at $4.18.

Wall Street Analysts Forecast Growth

Several analysts recently commented on EVO shares. Jefferies Financial Group lowered Evotec from a “buy” rating to a “hold” rating and dropped their target price for the stock from $8.70 to $3.80 in a report on Monday, October 7th. HC Wainwright restated a “buy” rating and issued a $8.00 price target on shares of Evotec in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $5.93.

Evotec Stock Down 1.5 %

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 firm’s fifty day moving average is $4.63 and its 200 day moving average is $4.12.

Institutional Trading of Evotec

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC acquired a new stake in Evotec in the 2nd quarter worth about $87,000. Clear Harbor Asset Management LLC purchased a new position in shares of Evotec in the third quarter valued at approximately $104,000. DCF Advisers LLC lifted its position in shares of Evotec by 140.5% in the second quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock valued at $552,000 after acquiring an additional 67,156 shares in the last quarter. Mediolanum International Funds Ltd acquired a new stake in shares of Evotec in the third quarter worth approximately $512,000. Finally, Wellington Management Group LLP increased its position in shares of Evotec by 29.7% during the third 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 in the last quarter. Hedge funds and other institutional investors own 5.81% of the company’s stock.

About Evotec

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.