Evotec (NASDAQ:EVO) Shares Gap Down – What’s Next?

Evotec SE (NASDAQ:EVO) gapped down before the market opened on Wednesday . The stock had previously closed at $4.63, but opened at $4.42. Evotec shares last traded at $4.41, with a volume of 7,333 shares.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and set a $8.00 price target on shares of Evotec in a report on Thursday, November 7th.

Evotec Trading Down 3.9 %

The stock has a fifty day simple moving average of $4.42 and a 200 day simple moving average of $4.02. 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 Trading of Evotec

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets bought a new position in Evotec in the 4th quarter worth approximately $27,000. CSS LLC IL bought a new position in shares of Evotec during the fourth quarter worth $50,000. Bank of America Corp DE grew its stake in Evotec by 262.5% during the fourth quarter. Bank of America Corp DE now owns 12,828 shares of the company’s stock valued at $53,000 after acquiring an additional 9,289 shares in the last quarter. Clear Harbor Asset Management LLC purchased a new position in Evotec during the third quarter valued at $104,000. Finally, Lighthouse Investment Partners LLC bought a new stake in Evotec in the 4th quarter valued at $166,000. Institutional investors own 5.81% of the company’s stock.

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.