Short Interest in Evotec AG (NASDAQ:EVO) Declines By 79.0%

Evotec AG (NASDAQ:EVO) was the target of a large drop in short interest in the month of April. As of April 30th, there was short interest totaling 86,146 shares, a drop of 79.0% from the April 15th total of 409,474 shares. Based on an average trading volume of 131,198 shares, the short-interest ratio is presently 0.7 days. Approximately 0.0% of the company’s shares are short sold.

Analysts Set New Price Targets

Several research analysts have recently weighed in on EVO shares. Weiss Ratings upgraded Evotec from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, April 24th. HC Wainwright initiated coverage on Evotec in a report on Wednesday, April 15th. They set a “buy” rating and a $7.00 price objective on the stock. Berenberg Bank assumed coverage on Evotec in a research report on Tuesday, February 3rd. They issued a “buy” rating on the stock. Finally, Wall Street Zen cut Evotec from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $7.00.

Evotec Stock Performance

Shares of EVO stock traded down $0.04 on Friday, hitting $2.69. 21,578 shares of the stock traded hands, compared to its average volume of 127,310. The company’s fifty day moving average is $2.81 and its 200 day moving average is $3.17. Evotec has a 1-year low of $2.31 and a 1-year high of $4.80. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.60 and a current ratio of 1.68.

Evotec (NASDAQ:EVO) last released its quarterly earnings data on Tuesday, March 31st. The company reported $0.05 earnings per share for the quarter. The business had revenue of $297.02 million for the quarter. Evotec had a negative net margin of 26.20% and a negative return on equity of 24.93%. As a group, research analysts anticipate that Evotec will post -0.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. XTX Topco Ltd raised its holdings in shares of Evotec by 25.1% during the fourth quarter. XTX Topco Ltd now owns 18,469 shares of the company’s stock valued at $57,000 after acquiring an additional 3,709 shares during the period. BNP Paribas Financial Markets raised its stake in Evotec by 62.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company’s stock valued at $50,000 after purchasing an additional 4,600 shares during the period. Bank of America Corp DE lifted its holdings in shares of Evotec by 262.5% in 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. Apollon Wealth Management LLC purchased a new stake in shares of Evotec in the first quarter valued at $28,000. Finally, Marshall Wace LLP acquired a new stake in shares of Evotec in the fourth quarter worth $40,000. 5.81% of the stock is owned by hedge funds and other institutional investors.

Evotec Company Profile

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.