Evotec (NASDAQ:EVO) Shares Gap Down – Should You Sell?

Evotec SE (NASDAQ:EVO)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $4.71, but opened at $4.61. Evotec shares last traded at $4.61, with a volume of 1,293 shares changing hands.

Wall Street Analysts Forecast Growth

EVO has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lowered Evotec from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. HC Wainwright reiterated a “buy” rating and issued a $8.00 target price on shares of Evotec in a report on Thursday, November 7th. Finally, Jefferies Financial Group downgraded shares of Evotec from a “buy” rating to a “hold” rating and cut their price target for the stock from $8.70 to $3.80 in a report on Monday, October 7th. One 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 stock. Based on data from MarketBeat.com, Evotec presently has a consensus rating of “Hold” and a consensus price target of $5.93.

Evotec Trading Down 2.1 %

The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 0.43. The company has a 50 day moving average of $4.06 and a 200-day moving average of $4.16.

Institutional Investors Weigh In On Evotec

Several large investors have recently bought and sold shares of EVO. Novo Holdings A S purchased a new stake in Evotec during the second quarter worth approximately $71,183,000. Cetera Advisors LLC purchased a new position in shares of Evotec in the 1st quarter valued at $188,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Evotec during the 2nd quarter worth $87,000. DCF Advisers LLC lifted its position in Evotec by 140.5% in the second quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock valued at $552,000 after acquiring an additional 67,156 shares during the last quarter. Finally, Mediolanum International Funds Ltd purchased a new position in shares of Evotec during the third quarter worth about $512,000. Hedge funds and other institutional investors 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.