Evotec (NASDAQ:EVO) Shares Gap Up – What’s Next?

Evotec SE (NASDAQ:EVO)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $4.35, but opened at $4.61. Evotec shares last traded at $4.66, with a volume of 4,974 shares.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and set a $8.00 target price on shares of Evotec in a report on Thursday, November 7th.

Evotec Trading Down 2.8 %

The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 0.43. The firm’s 50-day moving average price is $4.44 and its two-hundred day moving average price is $4.04.

Institutional Investors Weigh In On Evotec

Institutional investors have recently bought and sold shares of the business. Clear Harbor Asset Management LLC purchased a new position in shares of Evotec during the 3rd quarter valued at $104,000. Mediolanum International Funds Ltd purchased a new position in Evotec in the third quarter valued at about $512,000. Finally, Wellington Management Group LLP increased its position in Evotec by 29.7% in the 3rd 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 last quarter. 5.81% of the stock is currently owned by institutional investors and hedge funds.

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.