Evotec (NASDAQ:EVO) Shares Gap Down – Time to Sell?

Evotec AG (NASDAQ:EVO) gapped down before the market opened on Wednesday . The stock had previously closed at $3.97, but opened at $3.40. Evotec shares last traded at $3.4250, with a volume of 88,085 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on EVO shares. HC Wainwright reduced their price objective on shares of Evotec from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, August 14th. Weiss Ratings reissued a “sell (e+)” rating on shares of Evotec in a report on Wednesday. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Evotec in a research note on Wednesday, September 3rd. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Evotec has a consensus rating of “Hold” and an average price target of $7.00.

Evotec Price Performance

The company has a current ratio of 1.58, a quick ratio of 1.49 and a debt-to-equity ratio of 0.42. The company has a fifty day moving average of $3.74 and a two-hundred day moving average of $3.93.

Hedge Funds Weigh In On Evotec

Several institutional investors and hedge funds have recently added to or reduced their stakes in EVO. BNP Paribas Financial Markets raised its stake 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 worth $50,000 after buying an additional 4,600 shares in the last quarter. Bank of America Corp DE grew its holdings in Evotec by 262.5% during 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 during the period. Valeo Financial Advisors LLC purchased a new position in Evotec in the second quarter worth $43,000. UMB Bank n.a. purchased a new position in Evotec in the second quarter worth $56,000. Finally, Thrivent Financial for Lutherans acquired a new stake in Evotec in the third quarter valued at $53,000. Institutional investors and hedge funds own 5.81% of the company’s stock.

Evotec Company Profile

Evotec SE operates as drug discovery and development partner for the pharmaceutical and biotechnology industry worldwide. The company is developing pharmaceutical products in various therapeutic areas, such as autoimmune diseases, cancer, CNS diseases, diabetes, fibrosis, immunology, infectious diseases, kidney diseases, liver diseases, pain and inflammation, rare diseases, respiratory diseases, tuberculosis, and women’s health.