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 before the market opened 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 changing hands.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Evotec from a "sell" rating to a "hold" rating in a report on Thursday, April 24th. Royal Bank Of Canada restated an "outperform" rating on shares of Evotec in a report on Thursday, May 15th.

Evotec Trading Up 2.4%

The stock's 50-day moving average price is $4.08 and its 200-day moving average price is $3.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.93 and a current ratio of 2.03.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in EVO. Envestnet Asset Management Inc. acquired a new stake in Evotec during the 2nd quarter worth approximately $385,000. WCM Investment Management LLC acquired a new position in Evotec in the 2nd quarter worth $1,239,000. Valeo Financial Advisors LLC acquired a new stake in shares of Evotec in the 2nd quarter valued at about $43,000. UMB Bank n.a. bought a new stake in shares of Evotec in the second quarter valued at about $56,000. Finally, ABC Arbitrage SA bought a new position in shares of Evotec during the first quarter worth about $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.