Shares of Evotec AG (NASDAQ:EVO – Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $1.67, but opened at $1.74. Evotec shares last traded at $1.7250, with a volume of 5,865 shares traded.
Analysts Set New Price Targets
EVO has been the topic of a number of recent research reports. Berenberg Bank downgraded Evotec from a “buy” rating to a “hold” rating in a report on Thursday, July 16th. Weiss Ratings downgraded shares of Evotec from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 25th. TD Cowen cut shares of Evotec from a “buy” rating to a “hold” rating and set a $2.00 target price for the company. in a report on Wednesday, July 15th. Finally, HC Wainwright decreased their price target on shares of Evotec from $7.00 to $4.00 and set a “buy” rating on the stock in a research report on Wednesday, July 15th. One investment analyst has 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 MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.00.
Read Our Latest Research Report on Evotec
Evotec Price Performance
Institutional Investors Weigh In On Evotec
A number of institutional investors have recently bought and sold shares of EVO. Optiver Holding B.V. lifted its position in shares of Evotec by 598.4% in the first quarter. Optiver Holding B.V. now owns 283,576 shares of the company’s stock valued at $709,000 after acquiring an additional 242,973 shares in the last quarter. WCM Investment Management LLC grew its position in shares of Evotec by 12.1% during the first quarter. WCM Investment Management LLC now owns 627,260 shares of the company’s stock worth $1,480,000 after purchasing an additional 67,917 shares in the last quarter. Apollon Wealth Management LLC purchased a new stake in shares of Evotec during the first quarter worth about $28,000. SmartHarvest Portfolios LLC bought a new stake in Evotec during the 1st quarter valued at approximately $44,000. Finally, Fore Capital LLC bought a new stake in Evotec during the 4th quarter valued at approximately $97,000. Hedge funds and other institutional investors own 5.81% of the company’s stock.
About Evotec
Evotec SE is a Germany-based biotechnology company that provides drug discovery and development services to pharmaceutical, biotechnology and academic organizations. The company works across the research process, from early-stage target identification and assay development through hit identification, lead optimization, preclinical research and translational development.
Evotec uses technology platforms and scientific expertise in areas including small-molecule drug discovery, biologics, protein degradation, cell and gene therapy, and precision medicine.
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