Evotec AG (NASDAQ:EVO – Get Free Report)’s share price reached a new 52-week low on Monday . The stock traded as low as $1.67 and last traded at $1.67, with a volume of 4567 shares trading hands. The stock had previously closed at $1.73.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the stock. TD Cowen lowered shares of Evotec from a “buy” rating to a “hold” rating and set a $2.00 target price for the company. in a research note on Wednesday, July 15th. Weiss Ratings downgraded shares of Evotec from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 25th. Berenberg Bank lowered Evotec from a “buy” rating to a “hold” rating in a research report on Thursday, July 16th. Finally, HC Wainwright cut their price objective on Evotec from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Evotec has an average rating of “Hold” and an average target price of $3.00.
Check Out Our Latest Report on EVO
Evotec Price Performance
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP boosted its holdings in Evotec by 25.7% in the 4th quarter. Wellington Management Group LLP now owns 1,797,444 shares of the company’s stock valued at $5,536,000 after purchasing an additional 367,545 shares in the last quarter. WCM Investment Management LLC lifted its position in shares of Evotec by 12.1% during the 1st quarter. WCM Investment Management LLC now owns 627,260 shares of the company’s stock valued at $1,480,000 after acquiring an additional 67,917 shares during the period. Optiver Holding B.V. grew its holdings in shares of Evotec by 598.4% in the 1st quarter. Optiver Holding B.V. now owns 283,576 shares of the company’s stock worth $709,000 after acquiring an additional 242,973 shares during the period. Jane Street Group LLC purchased a new position in Evotec in the 4th quarter valued at approximately $565,000. Finally, Millennium Management LLC acquired a new position in Evotec during the fourth quarter worth $317,000. Institutional investors and hedge funds 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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