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

Evotec AG (NASDAQ:EVO)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $1.89, but opened at $1.95. Evotec shares last traded at $1.9550, with a volume of 10,420 shares traded.

Analyst Ratings Changes

Several analysts have issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Evotec in a report on Tuesday, July 21st. TD Cowen lowered Evotec from a “buy” rating to a “hold” rating and set a $2.00 price target on the stock. in a report on Wednesday, July 15th. Wall Street Zen cut shares of Evotec from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Berenberg Bank lowered shares of Evotec from a “buy” rating to a “hold” rating in a report on Thursday, July 16th. Finally, HC Wainwright cut their price objective on shares of Evotec from $7.00 to $4.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $3.00.

Evotec Stock Up 2.4%

The business’s 50-day simple moving average is $2.27 and its two-hundred day simple moving average is $2.71. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.21 and a current ratio of 2.33.

Institutional Trading of Evotec

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EVO. Wellington Management Group LLP lifted its stake in Evotec by 25.7% during the fourth quarter. Wellington Management Group LLP now owns 1,797,444 shares of the company’s stock worth $5,536,000 after purchasing an additional 367,545 shares in the last quarter. WCM Investment Management LLC boosted its position in shares of Evotec by 12.1% during the first quarter. WCM Investment Management LLC now owns 627,260 shares of the company’s stock worth $1,480,000 after buying an additional 67,917 shares during the period. ABC Arbitrage SA grew its stake in shares of Evotec by 319.7% in the fourth quarter. ABC Arbitrage SA now owns 554,287 shares of the company’s stock valued at $1,707,000 after buying an additional 422,230 shares in the last quarter. Optiver Holding B.V. grew its stake in shares of Evotec by 598.4% in the first quarter. Optiver Holding B.V. now owns 283,576 shares of the company’s stock valued at $709,000 after buying an additional 242,973 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Evotec in the 4th quarter valued at $565,000. Hedge funds and other institutional investors own 5.81% of the company’s stock.

About Evotec

Evotec SE (NASDAQ:EVO) is a global biotechnology company headquartered in Hamburg, Germany, specializing in drug discovery and development partnerships. The company leverages its integrated discovery platforms to support pharmaceutical and biotech clients in advancing novel therapies from target identification through preclinical development.

Evotec’s service offering encompasses high-throughput screening, bioanalytics, combinatorial chemistry, structural biology, pharmacology, and computational drug design.