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

Evotec AG (NASDAQ:EVO)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $3.35, but opened at $3.58. Evotec shares last traded at $3.64, with a volume of 49,013 shares.

Wall Street Analysts Forecast Growth

Several research firms recently commented on EVO. Weiss Ratings reiterated a “sell (d-)” rating on shares of Evotec in a research report on Monday, December 29th. Wall Street Zen raised shares of Evotec to a “sell” rating in a research note on Saturday, December 20th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.00.

Evotec Price Performance

The business’s 50-day simple moving average is $3.17 and its two-hundred day simple moving average is $3.62. The company has a current ratio of 2.12, a quick ratio of 2.03 and a debt-to-equity ratio of 0.48.

Hedge Funds Weigh In On Evotec

A number of hedge funds have recently bought and sold shares of the company. Valeo Financial Advisors LLC bought a new stake in Evotec during the second quarter valued at $43,000. BNP Paribas Financial Markets raised its position in shares of Evotec by 62.2% in the 2nd 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. Bank of America Corp DE lifted its stake in shares of Evotec by 262.5% in the 4th 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 during the period. Thrivent Financial for Lutherans bought a new stake in shares of Evotec during the 3rd quarter valued at about $53,000. Finally, UMB Bank n.a. acquired a new stake in Evotec during the second quarter worth approximately $56,000. Institutional investors own 5.81% of the company’s stock.

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.