Evotec (NASDAQ:EVO) Shares Gap Down - Time to Sell?

Evotec SE (NASDAQ:EVO - Get Free Report)'s stock price gapped down before the market opened 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 trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EVO. HC Wainwright reissued a "buy" rating and issued a $8.00 price target on shares of Evotec in a report on Thursday, November 7th. Jefferies Financial Group lowered shares of Evotec from a "buy" rating to a "hold" rating and decreased their price objective for the company from $8.70 to $3.80 in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $5.93.

Evotec Stock Down 2.1 %

The stock has a 50-day simple moving average of $4.08 and a 200 day simple moving average of $4.15. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.99 and a current ratio of 2.09.

Hedge Funds Weigh In On Evotec

A number of institutional investors have recently added to or reduced their stakes in the business. Cetera Advisors LLC bought a new position in shares of Evotec in the 1st quarter worth $188,000. Vanguard Personalized Indexing Management LLC bought a new position in Evotec in the second quarter valued at $87,000. DCF Advisers LLC increased its stake 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. Novo Holdings A S purchased a new stake in Evotec during the second quarter valued at about $71,183,000. Finally, Mediolanum International Funds Ltd bought a new stake in Evotec during the third quarter worth about $512,000. 5.81% of the stock is currently owned by institutional investors.

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.