Wellington Management Group LLP Sells 396,504 Shares of Evotec AG $EVO

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

Several other institutional investors and hedge funds have also recently made changes to their positions in EVO. DCF Advisers LLC boosted its position in shares of Evotec by 227.0% during the first quarter. DCF Advisers LLC now owns 751,579 shares of the company's stock valued at $2,510,000 after purchasing an additional 521,708 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Evotec during the fourth quarter valued at approximately $27,000. CSS LLC IL bought a new stake in shares of Evotec during the fourth quarter valued at approximately $50,000. ABC Arbitrage SA bought a new stake in shares of Evotec during the first quarter valued at approximately $260,000. Finally, Lighthouse Investment Partners LLC bought a new stake in shares of Evotec during the fourth quarter valued at approximately $166,000. Institutional investors own 5.81% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on EVO shares. Royal Bank Of Canada restated an "outperform" rating on shares of Evotec in a research report on Wednesday. HC Wainwright dropped their price target on Evotec from $8.00 to $7.00 and set a "buy" rating on the stock in a research report on Thursday, August 14th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $5.40.

Evotec Stock Up 1.2%

EVO stock traded up $0.04 during midday trading on Wednesday, hitting $3.44. The company's stock had a trading volume of 88,300 shares, compared to its average volume of 46,125. Evotec AG has a 12 month low of $2.84 and a 12 month high of $5.64. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.49 and a current ratio of 1.58. The firm's 50-day moving average is $3.92 and its 200-day moving average is $3.89.

Evotec 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.