Evotec (NASDAQ:EVO) Stock Price Down 2.7% – Here’s What Happened

Evotec SE (NASDAQ:EVO)’s stock price was down 2.7% on Friday . The company traded as low as $4.67 and last traded at $4.70. Approximately 12,596 shares traded hands during trading, a decline of 91% from the average daily volume of 133,833 shares. The stock had previously closed at $4.83.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $8.00 price objective on shares of Evotec in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lowered Evotec from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group cut Evotec from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $8.70 to $3.80 in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $5.93.

Evotec Stock Performance

The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 0.43. The stock’s fifty day simple moving average is $3.93 and its 200-day simple moving average is $4.19.

Institutional Trading of Evotec

Hedge funds have recently bought and sold shares of the company. Novo Holdings A S acquired a new stake in Evotec in the 2nd quarter worth about $71,183,000. Wellington Management Group LLP boosted its position in shares of Evotec by 29.7% in the third quarter. Wellington Management Group LLP now owns 2,634,434 shares of the company’s stock worth $9,616,000 after acquiring an additional 602,858 shares during the last quarter. Mediolanum International Funds Ltd purchased a new stake in Evotec in the third quarter valued at approximately $512,000. DCF Advisers LLC increased its position in Evotec by 140.5% during the second quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock worth $552,000 after purchasing an additional 67,156 shares during the last quarter. Finally, Clear Harbor Asset Management LLC purchased a new position in Evotec during the third quarter worth approximately $104,000. Institutional investors and hedge funds own 5.81% of the company’s stock.

About Evotec

Evotec SE operates as drug discovery and development partner for the pharmaceutical and biotechnology industry worldwide. The company is developing pharmaceutical products in various therapeutic areas, such as autoimmune diseases, cancer, CNS diseases, diabetes, fibrosis, immunology, infectious diseases, kidney diseases, liver diseases, pain and inflammation, rare diseases, respiratory diseases, tuberculosis, and women’s health.