Evotec (NASDAQ:EVO) Shares Gap Up – Here’s Why
by Jessica Moore · The Cerbat GemEvotec AG (NASDAQ:EVO – Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $3.42, but opened at $3.72. Evotec shares last traded at $3.7410, with a volume of 50,692 shares trading hands.
Analysts Set New Price Targets
Several brokerages have commented on EVO. Wall Street Zen upgraded shares of Evotec from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Evotec in a research report on Monday, December 29th. Finally, Berenberg Bank initiated coverage on Evotec in a report on Tuesday. They issued a “buy” rating for the company. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $7.00.
View Our Latest Stock Report on EVO
Evotec Stock Performance
The company has a quick ratio of 2.03, a current ratio of 2.12 and a debt-to-equity ratio of 0.48. The business has a 50 day moving average price of $3.31 and a 200 day moving average price of $3.55.
Institutional Trading of Evotec
Institutional investors and hedge funds have recently modified their holdings of the business. Valeo Financial Advisors LLC purchased a new position in shares of Evotec in the second quarter worth $43,000. BNP Paribas Financial Markets raised its position in Evotec by 62.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company’s stock worth $50,000 after buying an additional 4,600 shares during the last quarter. Bank of America Corp DE raised its position in Evotec by 262.5% in the 4th quarter. Bank of America Corp DE now owns 12,828 shares of the company’s stock worth $53,000 after buying an additional 9,289 shares during the last quarter. Thrivent Financial for Lutherans bought a new position in Evotec during the 3rd quarter valued at about $53,000. Finally, XTX Topco Ltd purchased a new stake in shares of Evotec during the 2nd quarter valued at about $66,000. Institutional investors own 5.81% of the company’s stock.
Evotec Company Profile
Evotec SE (NASDAQ:EVO) is a global biotechnology company headquartered in Hamburg, Germany, specializing in drug discovery and development partnerships. The company leverages its integrated discovery platforms to support pharmaceutical and biotech clients in advancing novel therapies from target identification through preclinical development.
Evotec’s service offering encompasses high-throughput screening, bioanalytics, combinatorial chemistry, structural biology, pharmacology, and computational drug design.