Short Interest in Evotec AG (NASDAQ:EVO) Expands By 68.6%

Key Points

• Short interest in Evotec surged 68.6% to 47,630 shares as of July 31, representing about 1.0 day of average trading volume and approximately 0.0% of shares outstanding.
• Evotec shares closed at $1.96, near the company’s one-year low of $1.90 and below both its 50-day and 200-day moving averages.
• Analyst sentiment is mixed but leans cautious: Evotec has an average “Hold” rating and a $3.00 target price, while several firms recently downgraded the stock or cut their price targets.

Evotec AG (NASDAQ:EVO - Get Free Report) was the recipient of a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 47,630 shares, an increase of 68.6% from the July 15th total of 28,249 shares. Based on an average trading volume of 48,877 shares, the short-interest ratio is presently 1.0 days. Approximately 0.0% of the company's shares are sold short.

Evotec Price Performance

NASDAQ:EVO remained flat at $1.96 on Monday. The company's stock had a trading volume of 30,200 shares, compared to its average volume of 97,447. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.21 and a current ratio of 2.33. Evotec has a 1-year low of $1.90 and a 1-year high of $4.27. The company's 50 day moving average price is $2.38 and its two-hundred day moving average price is $2.80.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on EVO shares. Wall Street Zen downgraded Evotec from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. Berenberg Bank lowered Evotec from a "buy" rating to a "hold" rating in a research note on Thursday, July 16th. HC Wainwright cut their price target on Evotec from $7.00 to $4.00 and set a "buy" rating on the stock in a report on Wednesday, July 15th. TD Cowen cut Evotec from a "buy" rating to a "hold" rating and set a $2.00 price target on the stock. in a report on Wednesday, July 15th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Evotec in a research report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Evotec presently has an average rating of "Hold" and an average target price of $3.00.

Institutional Trading of Evotec

Several hedge funds have recently bought and sold shares of the business. Optiver Holding B.V. increased its stake in 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 purchasing an additional 242,973 shares in the last quarter. WCM Investment Management LLC grew 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 buying an additional 67,917 shares during the last quarter. Apollon Wealth Management LLC acquired a new position in shares of Evotec during the first quarter valued at about $28,000. SmartHarvest Portfolios LLC bought a new stake in shares of Evotec during the first quarter worth about $44,000. Finally, XTX Topco Ltd increased its position in shares of Evotec by 25.1% during the fourth quarter. XTX Topco Ltd now owns 18,469 shares of the company's stock worth $57,000 after acquiring an additional 3,709 shares in the last quarter. Institutional investors and hedge funds own 5.81% of the company's stock.

About Evotec

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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