Evotec (NASDAQ:EVO) Shares Gap Down - Here's Why

Evotec SE (NASDAQ:EVO - Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $4.27, but opened at $4.14. Evotec shares last traded at $4.19, with a volume of 163,699 shares changing hands.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EVO. Deutsche Bank Aktiengesellschaft upgraded shares of Evotec from a "sell" rating to a "hold" rating in a research note on Thursday, April 24th. Royal Bank of Canada reaffirmed an "outperform" rating on shares of Evotec in a research report on Thursday, May 15th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Evotec presently has a consensus rating of "Hold" and an average target price of $5.93.

Evotec Trading Down 3.2%

The company has a debt-to-equity ratio of 0.43, a current ratio of 2.09 and a quick ratio of 1.99. The company has a fifty day simple moving average of $3.97 and a two-hundred day simple moving average of $4.10.

Institutional Investors Weigh In On Evotec

Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets purchased a new stake in shares of Evotec in the fourth quarter valued at $27,000. CSS LLC IL acquired a new position in shares of Evotec in the fourth quarter valued at approximately $50,000. Bank of America Corp DE lifted its stake in shares of Evotec by 262.5% during the fourth quarter. Bank of America Corp DE now owns 12,828 shares of the company's stock valued at $53,000 after buying an additional 9,289 shares during the period. Lighthouse Investment Partners LLC purchased a new position in shares of Evotec during the fourth quarter valued at approximately $166,000. Finally, ABC Arbitrage SA acquired a new stake in Evotec during the first quarter worth approximately $260,000. 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.

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