Evotec AG (NASDAQ:EVO) Stock Short Interest Declines 78.5%

Evotec AG (NASDAQ:EVO – Get Free Report) saw a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 22,066 shares, a drop of 78.5% from the September 15th total of 102,492 shares. Based on an average daily volume of 241,452 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

EVO has been the subject of several analyst reports. Weiss Ratings downgraded Evotec from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 25th. TD Cowen downgraded Evotec from a “buy” rating to a “hold” rating and set a $2.00 target price on the stock. in a report on Wednesday, July 15th. HC Wainwright reduced their price target on Evotec from $7.00 to $4.00 and set a “buy” rating on the stock in a research report on Wednesday, July 15th. Finally, Berenberg Bank cut Evotec from a “buy” rating to a “hold” rating in a report on Thursday, July 16th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $3.00.

Check Out Our Latest Stock Report on Evotec

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EVO. Optiver Holding B.V. grew its stake in Evotec by 598.4% during the 1st quarter. Optiver Holding B.V. now owns 283,576 shares of the company’s stock valued at $709,000 after purchasing an additional 242,973 shares in the last quarter. WCM Investment Management LLC increased its holdings in Evotec by 12.1% during the 1st 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 during the last quarter. Apollon Wealth Management LLC purchased a new stake in Evotec during the 1st quarter worth approximately $28,000. Finally, SmartHarvest Portfolios LLC acquired a new position in shares of Evotec in the 1st quarter valued at approximately $44,000. Institutional investors and hedge funds own 5.81% of the company’s stock.

Evotec Stock Down 1.8%

EVO stock traded down $0.03 during trading on Tuesday, reaching $1.34. The stock had a trading volume of 49,994 shares, compared to its average volume of 102,400. Evotec has a 1-year low of $1.33 and a 1-year high of $4.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.21 and a current ratio of 2.33. The firm has a fifty day moving average price of $1.79 and a 200 day moving average price of $2.38.

Evotec Company Profile

(Get Free Report)

Evotec SE is a life sciences company headquartered in Hamburg, Germany, that provides drug discovery and development services to pharmaceutical, biotechnology and academic partners. Founded in 1993, the company supports programs from early-stage research through preclinical and clinical development, with expertise in small-molecule and biologic therapies.

Its activities include target identification and validation, screening, medicinal chemistry, pharmacology, drug manufacturing support and development services.

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