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

Evotec SE (NASDAQ:EVO) shares gapped down prior to trading on Tuesday . The stock had previously closed at $4.21, but opened at $3.85. Evotec shares last traded at $3.83, with a volume of 112,446 shares changing hands.

Analyst Ratings Changes

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

Evotec Price Performance

The company has a fifty day moving average of $4.39 and a two-hundred day moving average of $4.09. The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 0.43.

Institutional Investors Weigh In On Evotec

A number of institutional investors have recently made changes to their positions in EVO. BNP Paribas Financial Markets acquired a new position in Evotec in the fourth quarter worth $27,000. Bank of America Corp DE boosted its holdings in Evotec by 262.5% in the fourth quarter. Bank of America Corp DE now owns 12,828 shares of the company’s stock worth $53,000 after purchasing an additional 9,289 shares during the period. CSS LLC IL acquired a new position in Evotec in the fourth quarter worth $50,000. DCF Advisers LLC boosted its holdings in Evotec by 5.9% in the fourth quarter. DCF Advisers LLC now owns 229,871 shares of the company’s stock worth $956,000 after purchasing an additional 12,816 shares during the period. Finally, Lighthouse Investment Partners LLC acquired a new stake in Evotec during the fourth quarter worth about $166,000. 5.81% of the stock is currently owned by 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.