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

Evotec SE (NASDAQ:EVO) shares gapped down prior to trading on Tuesday . The stock had previously closed at $4.87, but opened at $4.59. Evotec shares last traded at $4.64, with a volume of 57,696 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on EVO. Jefferies Financial Group downgraded shares of Evotec from a “buy” rating to a “hold” rating and reduced their price target for the company from $8.70 to $3.80 in a research report on Monday, October 7th. Morgan Stanley downgraded shares of Evotec from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $15.00 to $6.00 in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft downgraded shares of Evotec from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Finally, HC Wainwright reissued a “buy” rating and set a $8.00 price target on shares of Evotec in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $5.93.

Evotec Trading Down 9.7 %

The company has a fifty day simple moving average of $3.54 and a 200-day simple moving average of $4.20. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.09 and a quick ratio of 1.73.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC bought a new position in shares of Evotec during the 2nd quarter worth about $87,000. Cetera Advisors LLC bought a new stake in shares of Evotec in the 1st quarter valued at about $188,000. Clear Harbor Asset Management LLC bought a new stake in Evotec during the 3rd quarter worth approximately $104,000. DCF Advisers LLC raised its holdings in Evotec by 140.5% during the 2nd quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock worth $552,000 after buying an additional 67,156 shares during the period. Finally, Mediolanum International Funds Ltd acquired a new stake in shares of Evotec in the third quarter valued at approximately $512,000. 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.