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

Evotec AG (NASDAQ:EVO) shares gapped down before the market opened on Wednesday . The stock had previously closed at $3.97, but opened at $3.40. Evotec shares last traded at $3.4250, with a volume of 88,085 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have recently commented on EVO shares. Royal Bank Of Canada restated an “outperform” rating on shares of Evotec in a report on Wednesday, September 3rd. HC Wainwright decreased their target price on Evotec from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, August 14th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Evotec in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $7.00.

Evotec Stock Down 15.9%

The company has a 50 day moving average price of $3.76 and a 200 day moving average price of $3.95. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.49 and a current ratio of 1.58.

Hedge Funds Weigh In On Evotec

A number of institutional investors have recently modified their holdings of the business. Valeo Financial Advisors LLC bought a new stake in shares of Evotec in the 2nd quarter valued at about $43,000. BNP Paribas Financial Markets boosted its holdings in Evotec by 62.2% in the second quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company’s stock worth $50,000 after acquiring an additional 4,600 shares in the last quarter. Thrivent Financial for Lutherans purchased a new stake in shares of Evotec in the third quarter worth approximately $53,000. Bank of America Corp DE raised its stake 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 worth $53,000 after purchasing an additional 9,289 shares during the last quarter. Finally, UMB Bank n.a. purchased a new stake in shares of Evotec during the second quarter valued at approximately $56,000. Institutional investors and hedge funds own 5.81% of the company’s stock.

About Evotec

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.