Evotec (NASDAQ:EVO) Shares Gap Down – Here’s Why

Evotec SE (NASDAQ:EVO) shares gapped down before the market opened on Tuesday . The stock had previously closed at $4.21, but opened at $3.85. Evotec shares last traded at $3.83, with a volume of 112,446 shares traded.

Analysts Set New Price Targets

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

Evotec Stock Performance

The company has a debt-to-equity ratio of 0.43, a current ratio of 2.09 and a quick ratio of 1.99. The stock’s fifty day moving average is $4.39 and its two-hundred day moving average is $4.09.

Hedge Funds Weigh In On Evotec

Several hedge funds and other institutional investors have recently made changes to their positions in the business. CSS LLC IL acquired a new position in shares of Evotec during the fourth quarter worth approximately $50,000. Lighthouse Investment Partners LLC acquired a new position in shares of Evotec during the fourth quarter worth approximately $166,000. Bank of America Corp DE increased its holdings in shares of Evotec by 262.5% during the fourth 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 period. BNP Paribas Financial Markets acquired a new position in shares of Evotec during the fourth quarter valued at $27,000. Finally, DCF Advisers LLC increased its holdings in shares of Evotec by 5.9% during the fourth quarter. DCF Advisers LLC now owns 229,871 shares of the company’s stock valued at $956,000 after purchasing an additional 12,816 shares during the period. 5.81% of the stock is currently owned by institutional investors and hedge funds.

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.