Evotec AG $EVO Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its stake in Evotec AG by 17.2%, selling 396,504 shares and holding approximately 1.9 million shares worth $6.36 million at the end of the recent quarter.
• Analysts have mixed opinions on Evotec, with HC Wainwright lowering the price target from $8.00 to $7.00 while maintaining a "buy" rating, leading to a consensus rating of "Moderate Buy" with an average price target of $5.40.
• Evotec AG's stock performance shows a current price of $3.51, with a 52-week range between $2.84 and $5.64, indicating volatility in its value over the past year.

Wellington Management Group LLP reduced its position in shares of Evotec AG (NASDAQ:EVO - Free Report) by 17.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,903,401 shares of the company's stock after selling 396,504 shares during the period. Wellington Management Group LLP owned 0.54% of Evotec worth $6,357,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. BNP Paribas Financial Markets acquired a new stake in shares of Evotec during the 4th quarter worth about $27,000. Bank of America Corp DE boosted its stake in shares of Evotec by 262.5% during the 4th quarter. Bank of America Corp DE now owns 12,828 shares of the company's stock worth $53,000 after purchasing an additional 9,289 shares during the last quarter. CSS LLC IL acquired a new stake in shares of Evotec during the 4th quarter worth about $50,000. Lighthouse Investment Partners LLC acquired a new stake in shares of Evotec during the 4th quarter worth about $166,000. Finally, ABC Arbitrage SA purchased a new position in shares of Evotec during the 1st quarter worth about $260,000. 5.81% of the stock is owned by institutional investors and hedge funds.

Evotec Price Performance

NASDAQ EVO traded down $0.01 during mid-day trading on Friday, hitting $3.50. The company's stock had a trading volume of 23,954 shares, compared to its average volume of 49,041. The company has a current ratio of 1.58, a quick ratio of 1.49 and a debt-to-equity ratio of 0.42. Evotec AG has a 52-week low of $2.84 and a 52-week high of $5.64. The stock's fifty day simple moving average is $3.95 and its two-hundred day simple moving average is $3.91.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada reiterated an "outperform" rating on shares of Evotec in a report on Thursday, May 15th. HC Wainwright cut 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. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $5.40.

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.