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

Evotec AG (NASDAQ:EVO)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $2.14, but opened at $1.98. Evotec shares last traded at $2.0050, with a volume of 59,166 shares changing hands.

Wall Street Analysts Forecast Growth

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

Evotec Price Performance

The company has a current ratio of 1.68, a quick ratio of 1.60 and a debt-to-equity ratio of 0.43. The business has a 50-day simple moving average of $2.77 and a 200 day simple moving average of $3.02.

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

Institutional Trading of Evotec

Several large investors have recently added to or reduced their stakes in the stock. Apollon Wealth Management LLC bought a new position in Evotec in the 1st quarter worth $28,000. Marshall Wace LLP bought a new stake in shares of Evotec during the 4th quarter valued at about $40,000. SmartHarvest Portfolios LLC purchased a new position in shares of Evotec during the first quarter valued at about $44,000. BNP Paribas Financial Markets increased its position in shares of Evotec by 62.2% during the second quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company’s stock valued at $50,000 after buying an additional 4,600 shares during the period. Finally, Bank of America Corp DE raised its stake in 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 buying an additional 9,289 shares in the last quarter. 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.