Evotec (NASDAQ:EVO) Reaches New 52-Week Low – Here’s Why

Shares of Evotec AG (NASDAQ:EVO) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $1.8950 and last traded at $1.90, with a volume of 8258 shares changing hands. The stock had previously closed at $1.96.

Wall Street Analysts Forecast Growth

EVO has been the subject of several research analyst reports. Berenberg Bank lowered Evotec from a “buy” rating to a “hold” rating in a research report on Thursday, July 16th. HC Wainwright reduced their price objective on shares of Evotec from $7.00 to $4.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. Wall Street Zen lowered shares of Evotec from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. TD Cowen cut 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. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Evotec in a report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $3.00.

Evotec Price Performance

The firm’s 50-day moving average is $2.36 and its 200-day moving average is $2.79. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.33 and a quick ratio of 2.21.

Institutional Investors Weigh In On Evotec

A number of institutional investors and hedge funds have recently made changes to their positions in the business. ABC Arbitrage SA boosted its stake in Evotec by 319.7% during the 4th quarter. ABC Arbitrage SA now owns 554,287 shares of the company’s stock valued at $1,707,000 after purchasing an additional 422,230 shares during the last quarter. Wellington Management Group LLP grew its holdings in Evotec by 25.7% during the fourth quarter. Wellington Management Group LLP now owns 1,797,444 shares of the company’s stock worth $5,536,000 after buying an additional 367,545 shares in the last quarter. Optiver Holding B.V. raised its position in Evotec by 598.4% in the 1st quarter. Optiver Holding B.V. now owns 283,576 shares of the company’s stock valued at $709,000 after buying an additional 242,973 shares during the last quarter. Jane Street Group LLC bought a new position in Evotec during the 4th quarter valued at $565,000. Finally, Millennium Management LLC bought a new position in Evotec during the 4th quarter valued at $317,000. Institutional investors and hedge funds 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.