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

Evotec AG (NASDAQ:EVO)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $2.00, but opened at $2.10. Evotec shares last traded at $2.0950, with a volume of 14,548 shares traded.

Wall Street Analysts Forecast Growth

EVO has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Evotec in a research note on Tuesday, July 21st. Berenberg Bank cut shares of Evotec from a “buy” rating to a “hold” rating in a research note on Thursday, July 16th. TD Cowen lowered shares of 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. Wall Street Zen cut shares of Evotec from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, HC Wainwright decreased their price objective on Evotec from $7.00 to $4.00 and set a “buy” rating on the stock in a research report on Wednesday, July 15th. Two research 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 currently has a consensus rating of “Hold” and a consensus price target of $3.00.

Evotec Stock Performance

The firm’s 50 day moving average price is $2.46 and its 200-day moving average price is $2.85. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.68 and a quick ratio of 1.60.

Hedge Funds Weigh In On Evotec

A number of hedge funds and other institutional investors have recently bought and sold shares of EVO. XTX Topco Ltd grew its holdings in Evotec by 25.1% during the 4th quarter. XTX Topco Ltd now owns 18,469 shares of the company’s stock worth $57,000 after acquiring an additional 3,709 shares during the period. BNP Paribas Financial Markets raised its position in shares of Evotec by 62.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company’s stock valued at $50,000 after acquiring an additional 4,600 shares during 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. Apollon Wealth Management LLC acquired a new position in shares of Evotec in the 1st quarter valued at $28,000. Finally, Marshall Wace LLP bought a new position in shares of Evotec in the 4th quarter worth $40,000. 5.81% of the stock is owned by institutional investors.

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.