Evotec (NASDAQ:EVO) Shares Down 3.6% – Time to Sell?

Evotec SE (NASDAQ:EVO) dropped 3.6% on Tuesday . The stock traded as low as $4.02 and last traded at $4.03. Approximately 20,210 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 54,748 shares. The stock had previously closed at $4.18.

Analysts Set New Price Targets

EVO has been the subject of several recent research reports. Jefferies Financial Group lowered shares of Evotec from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $8.70 to $3.80 in a research report on Monday, October 7th. HC Wainwright reiterated a “buy” rating and set a $8.00 target price on shares of Evotec in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $5.93.

Evotec Trading Down 3.1 %

The firm’s 50-day moving average price is $4.63 and its two-hundred day moving average price is $4.12. The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 0.43.

Institutional Investors Weigh In On Evotec

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Evotec during the second quarter worth approximately $87,000. Clear Harbor Asset Management LLC acquired a new stake in shares of Evotec during the 3rd quarter valued at about $104,000. 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 period. Mediolanum International Funds Ltd acquired a new position in Evotec in the third quarter worth about $512,000. Finally, Wellington Management Group LLP lifted its stake 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 purchasing an additional 602,858 shares during the period. 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.