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

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 traded.

Analysts Set New Price Targets

Several analysts have issued reports on the company. HC Wainwright dropped their target price on Evotec from $7.00 to $4.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. Wall Street Zen cut shares of Evotec from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings raised shares of Evotec from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, April 24th. Berenberg Bank cut shares of Evotec from a “buy” rating to a “hold” rating in a research report on Thursday, July 16th. Finally, TD Cowen downgraded shares of Evotec from a “buy” rating to a “hold” rating and set a $2.00 target price on the stock. in a research note on Wednesday, July 15th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Evotec presently has an average rating of “Hold” and a consensus price target of $3.00.

Evotec Trading Up 1.0%

The company has a 50 day moving average of $2.70 and a 200-day moving average of $3.00. The company has a current ratio of 1.68, a quick ratio of 1.60 and a debt-to-equity ratio of 0.43.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Apollon Wealth Management LLC purchased a new stake in Evotec during the 1st quarter worth approximately $28,000. Marshall Wace LLP purchased a new position in Evotec in the 4th quarter valued at approximately $40,000. SmartHarvest Portfolios LLC purchased a new position in Evotec in the 1st quarter valued at approximately $44,000. BNP Paribas Financial Markets grew its stake in shares of 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. Finally, Bank of America Corp DE grew 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 acquiring an additional 9,289 shares in the last quarter. Hedge funds and other 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.