Evotec AG (NASDAQ:EVO) Stock Short Interest Rises 246.7%

Key Points

• Evotec’s short interest surged 246.7% to 76,498 shares as of October 15, up from 22,066 shares at the end of September. Despite the increase, short interest represents 0.0% of shares outstanding, with a 0.6-day days-to-cover ratio.
• Evotec shares traded at $1.60, near the lower end of their $1.33–$4.19 12-month range, while the 50-day and 200-day moving averages stood at $1.66 and $2.55, respectively.
• Analyst sentiment is mixed, with one Buy, two Hold, and one Sell rating; the consensus rating is Hold with a $3.00 price target. Institutional investors and hedge funds own 5.81% of the company.

Evotec AG (NASDAQ:EVO - Get Free Report) was the recipient of a large growth in short interest in the month of October. As of October 15th, there was short interest totaling 76,498 shares, a growth of 246.7% from the September 30th total of 22,066 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average trading volume of 131,778 shares, the days-to-cover ratio is currently 0.6 days.

Evotec Stock Performance

NASDAQ:EVO traded up $0.04 during trading hours on Wednesday, hitting $1.60. 145,420 shares of the company traded hands, compared to its average volume of 101,946. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.33 and a quick ratio of 2.21. Evotec has a twelve month low of $1.33 and a twelve month high of $4.19. The firm has a 50-day moving average of $1.66 and a 200 day moving average of $2.55.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on EVO shares. Berenberg Bank cut shares of Evotec from a "buy" rating to a "hold" rating in a report on Thursday, July 16th. HC Wainwright reiterated a "buy" rating and issued a $4.00 price objective on shares of Evotec in a research note on Wednesday, October 14th. TD Cowen cut Evotec from a "buy" rating to a "hold" rating and set a $2.00 price objective for the company. in a research report on Wednesday, July 15th. Finally, Weiss Ratings downgraded Evotec from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, August 25th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $3.00.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. WCM Investment Management LLC grew its position in Evotec by 12.1% during the first quarter. WCM Investment Management LLC now owns 627,260 shares of the company's stock worth $1,480,000 after buying an additional 67,917 shares in the last quarter. Optiver Holding B.V. raised its holdings in Evotec by 598.4% in the 1st quarter. Optiver Holding B.V. now owns 283,576 shares of the company's stock valued at $709,000 after acquiring an additional 242,973 shares in the last quarter. Finally, Apollon Wealth Management LLC acquired a new position in Evotec in the 1st quarter valued at approximately $28,000. Institutional investors and hedge funds own 5.81% of the company's stock.

Evotec Company Profile

Evotec SE is a Germany-based biotechnology company that provides drug discovery and development services to pharmaceutical, biotechnology and academic research organizations. The company combines scientific expertise, proprietary technologies and integrated research platforms to identify and advance potential medicines across multiple therapeutic areas, including neuroscience, oncology, metabolic disease, infectious disease and inflammation.

Evotec's activities span early-stage target identification, compound screening, medicinal chemistry, pharmacology, preclinical research and selected clinical development services.

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