Evotec (NASDAQ:EVO) Reaches New 12-Month Low - Here's Why

Key Points

• Evotec shares fell to a new 52-week low of $1.555 during Monday trading, down from the prior close of $1.60.
• Analyst sentiment has weakened: recent firms downgraded the stock, leaving it with a consensus rating of “Hold” and an average price target of $3.00.
• Institutional ownership remains limited at 5.81%, although several investors recently increased their positions or initiated new stakes in the biotechnology company.

Evotec AG (NASDAQ:EVO - Get Free Report) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $1.56 and last traded at $1.5550, with a volume of 99869 shares. The stock had previously closed at $1.60.

Wall Street Analyst Weigh In

EVO has been the topic of a number of recent analyst reports. Weiss Ratings lowered shares of Evotec from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, August 25th. TD Cowen lowered shares of Evotec from a "buy" rating to a "hold" rating and set a $2.00 target price on the stock. in a research note on Wednesday, July 15th. Berenberg Bank downgraded shares of Evotec from a "buy" rating to a "hold" rating in a report on Thursday, July 16th. Finally, HC Wainwright cut their target price on shares of Evotec from $7.00 to $4.00 and set a "buy" rating for the company in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $3.00.

Evotec Stock Down 3.1%

The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.21 and a current ratio of 2.33. The company's 50 day moving average is $1.92 and its 200 day moving average is $2.50.

Institutional Investors Weigh In On Evotec

Institutional investors have recently added to or reduced their stakes in the company. Optiver Holding B.V. grew its position in Evotec by 598.4% in the first 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 during the period. WCM Investment Management LLC lifted its holdings in shares of Evotec by 12.1% during the first quarter. WCM Investment Management LLC now owns 627,260 shares of the company's stock valued at $1,480,000 after acquiring an additional 67,917 shares during the period. Apollon Wealth Management LLC acquired a new stake in shares of Evotec in the 1st quarter valued at $28,000. SmartHarvest Portfolios LLC acquired a new stake in shares of Evotec in the 1st quarter valued at $44,000. Finally, Fore Capital LLC bought a new stake in shares of Evotec in the 4th quarter worth about $97,000. 5.81% of the stock is owned by institutional investors and hedge funds.

About Evotec

Evotec SE is a Germany-based biotechnology company that provides drug discovery and development services to pharmaceutical, biotechnology and academic organizations. The company works across the research process, from early-stage target identification and assay development through hit identification, lead optimization, preclinical research and translational development.

Evotec uses technology platforms and scientific expertise in areas including small-molecule drug discovery, biologics, protein degradation, cell and gene therapy, and precision medicine.

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