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

Key Points

• Evotec shares hit a new 52-week low, falling to $1.91 during Tuesday trading and last changing hands at $1.92.
• Analyst sentiment has weakened: TD Cowen and Berenberg downgraded the stock to Hold, while other analysts cut price targets. The consensus rating is Hold, with a $3.00 target price.
• Despite recent institutional purchases, Evotec remains under pressure, trading below its 50-day and 200-day moving averages; hedge funds and other institutions own just 5.81% of the company.

Shares of Evotec AG (NASDAQ:EVO - Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The stock 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on EVO shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Evotec in a research report on Tuesday, July 21st. TD Cowen downgraded Evotec from a "buy" rating to a "hold" rating and set a $2.00 target price on the stock. in a research report on Wednesday, July 15th. HC Wainwright lowered their price target on Evotec from $7.00 to $4.00 and set a "buy" rating for the company in a 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. Finally, Wall Street Zen cut 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 data from MarketBeat, Evotec has an average rating of "Hold" and a consensus target price of $3.00.

Evotec Stock Down 1.0%

The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.60 and a current ratio of 1.68. The company has a 50 day simple moving average of $2.64 and a 200 day simple moving average of $2.96.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP lifted its position in Evotec by 25.7% during the fourth quarter. Wellington Management Group LLP now owns 1,797,444 shares of the company's stock valued at $5,536,000 after buying an additional 367,545 shares in the last quarter. WCM Investment Management LLC increased its position in shares of Evotec by 12.1% in the first quarter. WCM Investment Management LLC now owns 627,260 shares of the company's stock worth $1,480,000 after acquiring an additional 67,917 shares in the last quarter. ABC Arbitrage SA raised its stake in shares of Evotec by 319.7% in the 4th quarter. ABC Arbitrage SA now owns 554,287 shares of the company's stock valued at $1,707,000 after acquiring an additional 422,230 shares during the period. Optiver Holding B.V. raised its stake 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 valued at $709,000 after acquiring an additional 242,973 shares during the period. Finally, Jane Street Group LLC acquired a new position in shares of Evotec during the 4th quarter valued at $565,000. Hedge funds and other institutional investors own 5.81% of the company's stock.

Evotec Company Profile

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.

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