Evotec SE (NASDAQ:EVO) Short Interest Down 10.7% in October

Evotec SE (NASDAQ:EVO) was the recipient of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 220,100 shares, a drop of 10.7% from the October 15th total of 246,500 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 138,900 shares, the short-interest ratio is presently 1.6 days.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Novo Holdings A S purchased a new position in Evotec in the second quarter valued at about $71,183,000. Wellington Management Group LLP grew its position in Evotec by 29.7% during the third quarter. Wellington Management Group LLP now owns 2,634,434 shares of the company’s stock worth $9,616,000 after buying an additional 602,858 shares in the last quarter. Mediolanum International Funds Ltd purchased a new position in shares of Evotec in the 3rd quarter worth about $512,000. DCF Advisers LLC boosted its holdings in shares of Evotec by 140.5% in the 2nd quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock worth $552,000 after purchasing an additional 67,156 shares in the last quarter. Finally, Clear Harbor Asset Management LLC bought a new stake in shares of Evotec in the 3rd quarter valued at about $104,000. 5.81% of the stock is owned by institutional investors.

Evotec Stock Performance

Shares of NASDAQ EVO traded down $0.40 during trading on Tuesday, reaching $5.15. The company had a trading volume of 218,988 shares, compared to its average volume of 131,220. The company’s fifty day moving average price is $3.66 and its 200-day moving average price is $4.19. Evotec has a 12 month low of $2.85 and a 12 month high of $12.00. The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 0.43.

Analysts Set New Price Targets

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

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.