Evotec (NASDAQ:EVO) Shares Gap Up – Here’s What Happened

Evotec SE (NASDAQ:EVO) shares gapped up prior to trading on Monday . The stock had previously closed at $4.44, but opened at $4.58. Evotec shares last traded at $4.45, with a volume of 39,766 shares traded.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and issued a $8.00 target price on shares of Evotec in a report on Thursday, November 7th.

Evotec Stock Up 1.1 %

The company’s 50-day moving average price is $4.41 and its 200-day moving average price is $4.04. The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 0.43.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EVO. BNP Paribas Financial Markets bought a new position in shares of Evotec in the 4th quarter valued at about $27,000. CSS LLC IL bought a new position in shares of Evotec in the 4th quarter valued at about $50,000. Bank of America Corp DE grew its position in shares of Evotec by 262.5% in the 4th quarter. Bank of America Corp DE now owns 12,828 shares of the company’s stock valued at $53,000 after acquiring an additional 9,289 shares during the period. Clear Harbor Asset Management LLC bought a new position in shares of Evotec in the 3rd quarter valued at about $104,000. Finally, Lighthouse Investment Partners LLC bought a new position in shares of Evotec in the 4th quarter valued at about $166,000. Institutional investors own 5.81% of the company’s stock.

Evotec Company Profile

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.