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

Key Points

• Evotec AG (NASDAQ:EVO) shares opened at $3.90 after closing at $4.02, indicating a gap down in the stock price.
• Analysts have mixed views on Evotec, with Royal Bank Of Canada maintaining an "outperform" rating while Deutsche Bank upgraded it from "sell" to "hold."
• Institutional investors have shown significant interest, with DCF Advisers LLC increasing its stake by 227% and several others acquiring new stakes during recent quarters.

Shares of Evotec AG (NASDAQ:EVO - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $4.02, but opened at $3.90. Evotec shares last traded at $3.91, with a volume of 6,500 shares trading hands.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Evotec in a research report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft raised Evotec from a "sell" rating to a "hold" rating in a research report on Thursday, April 24th.

Evotec Trading Up 2.9%

The firm's 50-day simple moving average is $4.08 and its two-hundred day simple moving average is $3.99. The company has a current ratio of 2.03, a quick ratio of 1.93 and a debt-to-equity ratio of 0.46.

Hedge Funds Weigh In On Evotec

Several hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets bought a new stake in shares of Evotec in the fourth quarter worth $27,000. Bank of America Corp DE boosted its holdings in shares of Evotec by 262.5% in the fourth quarter. Bank of America Corp DE now owns 12,828 shares of the company's stock worth $53,000 after buying an additional 9,289 shares during the period. Valeo Financial Advisors LLC purchased a new position in Evotec during the 2nd quarter valued at about $43,000. CSS LLC IL acquired a new stake in shares of Evotec during the 4th quarter valued at about $50,000. Finally, UMB Bank n.a. bought a new position in shares of Evotec in the 2nd quarter valued at approximately $56,000. Hedge funds and other institutional investors own 5.81% of the company's stock.

About Evotec

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.