Evotec (NASDAQ:EVO) Reaches New 1-Year Low - Here's Why

Key Points

• Evotec shares fell to a new 52-week low of $1.86, below the previous close of $1.91, with the stock trading under both its 50-day and 200-day moving averages.
• Analysts have recently downgraded the stock, with ratings split between Buy, Hold, and Sell. MarketBeat reports a consensus Hold rating and an average price target of $3.00.
• Institutional investors have recently increased or initiated positions, but hedge funds and other institutions collectively own only 5.81% of Evotec’s shares.

Shares of Evotec AG (NASDAQ:EVO - Get Free Report) hit a new 52-week low during trading on Monday . The stock traded as low as $1.86 and last traded at $1.87, with a volume of 10644 shares traded. The stock had previously closed at $1.91.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Berenberg Bank downgraded shares of Evotec from a "buy" rating to a "hold" rating in a report on Thursday, July 16th. TD Cowen lowered shares of Evotec from a "buy" rating to a "hold" rating and set a $2.00 price objective for the company. in a research note on Wednesday, July 15th. Weiss Ratings cut Evotec from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, August 25th. HC Wainwright decreased their price target on shares of Evotec from $7.00 to $4.00 and set a "buy" rating on the stock in a report on Wednesday, July 15th. Finally, Wall Street Zen downgraded shares of Evotec from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $3.00.

Evotec Stock Performance

The company's fifty day moving average is $2.23 and its 200 day moving average is $2.68. The company has a current ratio of 2.33, a quick ratio of 2.21 and a debt-to-equity ratio of 0.62.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Apollon Wealth Management LLC purchased a new position in shares of Evotec in the first quarter valued at about $28,000. Marshall Wace LLP purchased a new position in shares of Evotec in the 4th quarter valued at approximately $40,000. SmartHarvest Portfolios LLC bought a new stake in shares of Evotec during the first quarter valued at approximately $44,000. BNP Paribas Financial Markets grew its stake in Evotec by 62.2% in the second quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company's stock worth $50,000 after purchasing an additional 4,600 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Evotec by 262.5% in the 4th quarter. Bank of America Corp DE now owns 12,828 shares of the company's stock worth $53,000 after acquiring an additional 9,289 shares in the last quarter. 5.81% of the stock is owned by hedge funds and other institutional investors.

Evotec Company Profile

Evotec SE NASDAQ: EVO is a global biotechnology company headquartered in Hamburg, Germany, specializing in drug discovery and development partnerships. The company leverages its integrated discovery platforms to support pharmaceutical and biotech clients in advancing novel therapies from target identification through preclinical development.

Evotec's service offering encompasses high-throughput screening, bioanalytics, combinatorial chemistry, structural biology, pharmacology, and computational drug design.

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