Evotec (NASDAQ:EVO) Shares Gap Up – Time to Buy?

Shares of Evotec AG (NASDAQ:EVO) gapped up before the market opened on Monday . The stock had previously closed at $1.96, but opened at $2.07. Evotec shares last traded at $2.05, with a volume of 8,502 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on EVO shares. TD Cowen downgraded Evotec from a “buy” rating to a “hold” rating and set a $2.00 price target for the company. in a report on Wednesday, July 15th. Weiss Ratings upgraded shares of Evotec from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, April 24th. Wall Street Zen lowered shares of Evotec from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. HC Wainwright reduced their target price on shares of Evotec from $7.00 to $4.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. Finally, Berenberg Bank lowered shares of Evotec from a “buy” rating to a “hold” rating in a research note on Thursday. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Evotec has a consensus rating of “Hold” and a consensus target price of $3.00.

Evotec Stock Up 3.8%

The company has a fifty day moving average of $2.75 and a two-hundred day moving average of $3.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.60 and a current ratio of 1.68.

Institutional Investors Weigh In On Evotec

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Optiver Holding B.V. boosted its position 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 acquiring an additional 242,973 shares during the period. WCM Investment Management LLC increased its position in 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 acquiring an additional 67,917 shares during the period. Apollon Wealth Management LLC acquired a new stake in Evotec in the 1st quarter worth about $28,000. SmartHarvest Portfolios LLC acquired a new stake in Evotec in the 1st quarter worth about $44,000. Finally, XTX Topco Ltd boosted its holdings in Evotec by 25.1% in the 4th quarter. XTX Topco Ltd now owns 18,469 shares of the company’s stock valued at $57,000 after purchasing an additional 3,709 shares during the period. Institutional investors and hedge funds 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.