Evotec (NASDAQ:EVO) Shares Gap Up - Time to Buy?

Key Points

• Evotec AG shares saw a gap up opening at $3.65 after closing at $3.50, with last traded prices reaching $3.67.
• Royal Bank of Canada maintained an "outperform" rating for Evotec, while HC Wainwright lowered the price target from $8.00 to $7.00 with a "buy" rating.
• Institutional investors have shown increased interest in Evotec, with various funds acquiring new stakes, resulting in 5.81% of the company's stock being owned by institutional investors.

Evotec AG (NASDAQ:EVO - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $3.50, but opened at $3.65. Evotec shares last traded at $3.67, with a volume of 9,396 shares changing hands.

Analyst Ratings Changes

EVO has been the topic of a number of recent research reports. HC Wainwright lowered their price objective on shares of Evotec from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Thursday, August 14th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Evotec in a research report on Wednesday, September 3rd. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $5.40.

Evotec Stock Performance

The firm's fifty day simple moving average is $3.76 and its 200 day simple moving average is $3.82. The company has a quick ratio of 1.49, a current ratio of 1.58 and a debt-to-equity ratio of 0.42.

Institutional Trading of Evotec

Several large investors have recently made changes to their positions in the company. Valeo Financial Advisors LLC acquired a new stake in shares of Evotec during the 2nd quarter worth approximately $43,000. Pitcairn Co. bought a new position in shares of Evotec in the second quarter worth about $1,097,000. Snowden Capital Advisors LLC bought a new position in Evotec in the 2nd quarter valued at approximately $122,000. BNP Paribas Financial Markets raised its holdings in Evotec by 62.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company's stock valued at $50,000 after buying an additional 4,600 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in Evotec by 427.4% in the 2nd quarter. Bank of America Corp DE now owns 20,506 shares of the company's stock valued at $86,000 after buying an additional 16,618 shares during the last quarter. 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.