Evotec (NASDAQ:EVO) Shares Gap Down – What’s Next?

Evotec SE (NASDAQ:EVO)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $4.63, but opened at $4.42. Evotec shares last traded at $4.41, with a volume of 7,333 shares traded.

Wall Street Analyst Weigh In

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

Evotec Price Performance

The company’s 50-day simple moving average is $4.42 and its 200 day simple moving average is $4.02. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.99 and a current ratio of 2.09.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in EVO. BNP Paribas Financial Markets purchased a new stake in Evotec during the fourth quarter valued at approximately $27,000. Bank of America Corp DE increased its position in shares of Evotec by 262.5% during the 4th quarter. Bank of America Corp DE now owns 12,828 shares of the company’s stock valued at $53,000 after purchasing an additional 9,289 shares during the last quarter. CSS LLC IL bought a new position in shares of Evotec during the 4th quarter valued at approximately $50,000. DCF Advisers LLC raised its holdings in Evotec by 5.9% during the 4th quarter. DCF Advisers LLC now owns 229,871 shares of the company’s stock valued at $956,000 after buying an additional 12,816 shares during the period. Finally, Clear Harbor Asset Management LLC bought a new stake in Evotec in the third quarter worth $104,000. 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.