Evotec (NASDAQ:EVO) Reaches New 52-Week Low – Should You Sell?

Shares of Evotec AG (NASDAQ:EVOGet Free Report) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $1.91 and last traded at $1.92, with a volume of 106393 shares. The stock had previously closed at $1.94.

Analyst Ratings Changes

A number of research firms have recently commented on EVO. HC Wainwright cut their price objective on Evotec from $7.00 to $4.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. Berenberg Bank lowered shares of Evotec from a “buy” rating to a “hold” rating in a report on Thursday, July 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Evotec in a research report on Tuesday, July 21st. TD Cowen downgraded shares of Evotec from a “buy” rating to a “hold” rating and set a $2.00 price objective on the stock. in a report on Wednesday, July 15th. Finally, Wall Street Zen lowered shares of Evotec from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Two 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’s stock. According to MarketBeat.com, Evotec presently has a consensus rating of “Hold” and a consensus price target of $3.00.

Read Our Latest Stock Report on EVO

Evotec Trading Down 1.5%

The company has a debt-to-equity ratio of 0.43, a current ratio of 1.68 and a quick ratio of 1.60. The stock has a 50 day moving average price of $2.61 and a 200-day moving average price of $2.94.

Institutional Investors Weigh In On Evotec

Large investors have recently modified their holdings of the business. ABC Arbitrage SA lifted its stake in shares of Evotec by 319.7% in the fourth quarter. ABC Arbitrage SA now owns 554,287 shares of the company’s stock worth $1,707,000 after buying an additional 422,230 shares in the last quarter. Snowden Capital Advisors LLC purchased a new stake in Evotec during the 2nd quarter valued at about $122,000. Goldman Sachs Group Inc. purchased a new stake in Evotec during the 4th quarter valued at about $110,000. Bank of America Corp DE raised its holdings in Evotec by 427.4% in the 2nd quarter. Bank of America Corp DE now owns 20,506 shares of the company’s stock valued at $86,000 after acquiring an additional 16,618 shares during the last quarter. Finally, HRT Financial LP acquired a new stake in Evotec in the 4th quarter valued at about $72,000. Hedge funds and other institutional investors own 5.81% of the company’s stock.

Evotec Company Profile

(Get Free Report)

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.

Further Reading

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