Evotec (NASDAQ:EVO) Shares Gap Down - Should You Sell?

Key Points

• Evotec AG shares opened at $3.64 after closing at $3.75, reflecting a significant gap down prior to trading.
• Analysts have mixed sentiments on Evotec, with ratings ranging from "buy" to "hold," and a consensus price target of $5.40 despite recent price target cuts.
• Institutional investors have shown strong interest, with DCF Advisers increasing their holdings by 227.0%, indicating growing confidence in the company's future.

Shares of Evotec AG (NASDAQ:EVO - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $3.75, but opened at $3.64. Evotec shares last traded at $3.67, with a volume of 13,452 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have weighed in on EVO shares. Royal Bank Of Canada restated an "outperform" rating on shares of Evotec in a research note on Wednesday, September 3rd. HC Wainwright cut their price objective on Evotec from $8.00 to $7.00 and set a "buy" rating for the company in a research report on Thursday, August 14th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $5.40.

Evotec Stock Performance

The company has a current ratio of 1.58, a quick ratio of 1.49 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average of $3.75 and a two-hundred day moving average of $3.82.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of EVO. DCF Advisers LLC lifted its holdings in Evotec by 227.0% during the 1st quarter. DCF Advisers LLC now owns 751,579 shares of the company's stock worth $2,510,000 after buying an additional 521,708 shares during the period. WCM Investment Management LLC bought a new stake in shares of Evotec during the 2nd quarter valued at about $1,239,000. Pitcairn Co. bought a new stake in shares of Evotec during the 2nd quarter valued at about $1,097,000. Envestnet Asset Management Inc. bought a new stake in shares of Evotec during the 2nd quarter valued at about $385,000. Finally, ABC Arbitrage SA bought a new stake in shares of Evotec during the 1st quarter valued at about $260,000. 5.81% of the stock is owned by institutional investors and hedge funds.

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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