Evotec (NASDAQ:EVO) Shares Gap Down - Here's What Happened

Evotec SE (NASDAQ:EVO - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $4.88, but opened at $4.52. Evotec shares last traded at $4.58, with a volume of 143,830 shares.

Analysts Set New Price Targets

A number of equities research analysts recently commented on EVO shares. HC Wainwright reiterated a "buy" rating and set a $8.00 price target on shares of Evotec in a report on Thursday, November 7th. Jefferies Financial Group downgraded shares of Evotec from a "buy" rating to a "hold" rating and lowered their price objective for the company from $8.70 to $3.80 in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Evotec has an average rating of "Hold" and a consensus target price of $5.93.

Evotec Trading Down 7.0 %

The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 0.43. The stock's 50-day simple moving average is $4.47 and its 200-day simple moving average is $4.14.

Hedge Funds Weigh In On Evotec

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC bought a new stake in Evotec during the 2nd quarter valued at approximately $87,000. Clear Harbor Asset Management LLC purchased a new position in shares of Evotec in the 3rd quarter valued at approximately $104,000. Mediolanum International Funds Ltd bought a new stake in shares of Evotec during the third quarter valued at approximately $512,000. DCF Advisers LLC boosted its position in shares of Evotec by 140.5% during the second quarter. DCF Advisers LLC now owns 114,953 shares of the company's stock valued at $552,000 after purchasing an additional 67,156 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Evotec by 29.7% in the third quarter. Wellington Management Group LLP now owns 2,634,434 shares of the company's stock worth $9,616,000 after purchasing an additional 602,858 shares during the period. Hedge funds and other 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.