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

Key Points

• Evotec shares fell to a new 52-week low of $1.67, down from the previous close of $1.73 and below its 50-day and 200-day moving averages.
• Analyst sentiment weakened: HC Wainwright cut its price target to $4, while Berenberg and TD Cowen downgraded the stock to Hold. The consensus rating is Hold, with an average price target of $3.00.
• Institutional investors made several purchases or increased positions, but hedge funds and other institutions collectively own only 5.81% of Evotec.

Evotec AG (NASDAQ:EVO - Get Free Report)'s share price hit a new 52-week low during trading on Monday . The company traded as low as $1.67 and last traded at $1.67, with a volume of 4567 shares trading hands. The stock had previously closed at $1.73.

Analyst Ratings Changes

A number of equities analysts have commented on EVO shares. HC Wainwright dropped their price objective on shares of Evotec from $7.00 to $4.00 and set a "buy" rating for the company in a research note on Wednesday, July 15th. Berenberg Bank downgraded shares of Evotec from a "buy" rating to a "hold" rating in a research note on Thursday, July 16th. TD Cowen cut shares of Evotec from a "buy" rating to a "hold" rating and set a $2.00 price target for the company. in a research note on Wednesday, July 15th. Finally, Weiss Ratings downgraded shares of Evotec from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, August 25th. One investment 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. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $3.00.

Evotec Trading Down 3.5%

The company has a 50 day moving average of $2.04 and a two-hundred day moving average of $2.56. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.21 and a current ratio of 2.33.

Hedge Funds Weigh In On Evotec

Several institutional investors and hedge funds have recently modified their holdings of EVO. Optiver Holding B.V. lifted its position in shares of Evotec by 598.4% during the 1st quarter. Optiver Holding B.V. now owns 283,576 shares of the company's stock valued at $709,000 after buying an additional 242,973 shares in the last quarter. WCM Investment Management LLC increased its position 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 worth $1,480,000 after purchasing an additional 67,917 shares in the last quarter. Apollon Wealth Management LLC acquired a new stake in shares of Evotec in the first quarter valued at about $28,000. SmartHarvest Portfolios LLC purchased a new stake in Evotec during the 1st quarter valued at about $44,000. Finally, XTX Topco Ltd grew its position in shares of Evotec by 25.1% in the fourth quarter. XTX Topco Ltd now owns 18,469 shares of the company's stock valued at $57,000 after purchasing an additional 3,709 shares in the last quarter. Hedge funds and other institutional investors 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 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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