Evotec (NASDAQ:EVO) Shares Gap Up – Time to Buy?

Evotec SE (NASDAQ:EVO)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $3.94, but opened at $4.08. Evotec shares last traded at $4.08, with a volume of 10,146 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft raised Evotec from a “sell” rating to a “hold” rating in a research note on Thursday, April 24th.

Evotec Trading Up 3.0%

The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average price of $3.66 and a 200 day moving average price of $4.18.

Institutional Investors Weigh In On Evotec

Hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets acquired a new stake in shares of Evotec during the fourth quarter worth about $27,000. CSS LLC IL bought a new position in shares of Evotec during the fourth quarter worth about $50,000. Bank of America Corp DE grew its holdings in shares of Evotec by 262.5% during the fourth 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 in the last quarter. Lighthouse Investment Partners LLC bought a new position in shares of Evotec during the fourth quarter worth about $166,000. Finally, ABC Arbitrage SA bought a new position in shares of Evotec during the first quarter worth about $260,000. Institutional investors and hedge funds own 5.81% of the company’s stock.

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 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.