Evotec (NASDAQ:EVO) Shares Gap Down – Should You Sell?

Shares of Evotec AG (NASDAQ:EVO) gapped down prior to trading on Tuesday . The stock had previously closed at $3.75, but opened at $3.64. Evotec shares last traded at $3.67, with a volume of 13,452 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Evotec in a report on Wednesday, September 3rd. HC Wainwright reduced their price objective on Evotec from $8.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, August 14th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Evotec currently has an average rating of “Moderate Buy” and an average price target of $5.40.

Evotec Trading Down 2.3%

The company has a debt-to-equity ratio of 0.42, a current ratio of 1.58 and a quick ratio of 1.49. The stock has a 50-day moving average of $3.75 and a 200-day moving average of $3.82.

Institutional Investors Weigh In On Evotec

Large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new stake in Evotec during the fourth quarter valued at about $27,000. Valeo Financial Advisors LLC purchased a new stake in Evotec during the second quarter valued at about $43,000. Bank of America Corp DE raised its position 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 purchasing an additional 9,289 shares in the last quarter. UMB Bank n.a. purchased a new stake in Evotec during the second quarter valued at about $56,000. Finally, XTX Topco Ltd purchased a new stake in Evotec during the second quarter valued at about $66,000. Hedge funds and other 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.