Evotec (NASDAQ:EVO) Sets New 52-Week Low - Should You Sell?

Key Points

• Evotec shares fell to a new 52-week low of $1.44 during Monday trading, below the previous close of $1.53. The stock remains below its 50-day and 200-day moving averages of $1.80 and $2.38, respectively.
• Analyst sentiment has weakened, with Berenberg Bank and TD Cowen downgrading the stock to Hold and Weiss Ratings maintaining a Sell rating. MarketBeat reports an overall Hold consensus and an average price target of $3.00.
• Institutional investors own just 5.81% of Evotec, although several firms recently increased or initiated positions. The company provides drug discovery and development services to pharmaceutical, biotechnology and academic partners.

Evotec AG (NASDAQ:EVO - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Monday. The stock traded as low as $1.44 and last traded at $1.4350, with a volume of 19,766 shares changing hands. The stock had previously closed at $1.53.

Analysts Set New Price Targets

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

Evotec Stock Performance

The stock's 50-day moving average price is $1.80 and its 200 day moving average price is $2.38. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.21 and a current ratio of 2.33.

Institutional Trading of Evotec

A number of institutional investors have recently made changes to their positions in EVO. Optiver Holding B.V. lifted its position in Evotec by 598.4% during the 1st quarter. Optiver Holding B.V. now owns 283,576 shares of the company's stock worth $709,000 after acquiring an additional 242,973 shares during the period. WCM Investment Management LLC increased its stake in shares of Evotec by 12.1% in the first quarter. WCM Investment Management LLC now owns 627,260 shares of the company's stock worth $1,480,000 after acquiring an additional 67,917 shares during the period. Apollon Wealth Management LLC purchased a new position in shares of Evotec during the 1st quarter valued at about $28,000. Finally, SmartHarvest Portfolios LLC acquired a new position in shares of Evotec in the 1st quarter valued at about $44,000. Institutional investors and hedge funds own 5.81% of the company's stock.

Evotec Company Profile

Evotec SE is a life sciences company headquartered in Hamburg, Germany, that provides drug discovery and development services to pharmaceutical, biotechnology and academic partners. Founded in 1993, the company supports programs from early-stage research through preclinical and clinical development, with expertise in small-molecule and biologic therapies.

Its activities include target identification and validation, screening, medicinal chemistry, pharmacology, drug manufacturing support and development services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.