Evotec (NASDAQ:EVO) Shares Gap Down to $7.24

Evotec SE (NASDAQ:EVO)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $7.24, but opened at $7.04. Evotec shares last traded at $7.03, with a volume of 6,390 shares trading hands.

Analysts Set New Price Targets

Several brokerages recently weighed in on EVO. Deutsche Bank Aktiengesellschaft raised shares of Evotec from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Royal Bank of Canada raised shares of Evotec from a “sector perform” rating to an “outperform” rating in a report on Thursday, January 18th.

Evotec Stock Down 1.1 %

The company’s 50 day simple moving average is $7.37 and its 200 day simple moving average is $8.73.

Hedge Funds Weigh In On Evotec

Hedge funds have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC purchased a new position in Evotec in the fourth quarter valued at approximately $25,000. OLD Mission Capital LLC purchased a new position in Evotec in the fourth quarter valued at approximately $141,000. Optiver Holding B.V. increased its stake in Evotec by 643.1% in the fourth quarter. Optiver Holding B.V. now owns 80,810 shares of the company’s stock valued at $945,000 after purchasing an additional 69,936 shares during the last quarter. Finally, Mubadala Investment Co PJSC purchased a new position in shares of Evotec during the fourth quarter worth approximately $53,931,000. 5.81% of the stock is currently owned by hedge funds and other institutional investors.

About Evotec

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 diabetes and complications, fibrosis, infectious diseases, CNS diseases, oncology, pain and inflammation, immunology, rare diseases, respiratory diseases, and women's health.