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

Evotec SE (NASDAQ:EVO) was the recipient of a significant 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 shares of the company are sold short. Based on an average trading volume of 138,900 shares, the short-interest ratio is currently 1.6 days.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on EVO shares. Morgan Stanley cut shares of Evotec from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $15.00 to $6.00 in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft cut shares of Evotec from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Jefferies Financial Group cut shares of Evotec from a “buy” rating to a “hold” rating and cut their target price for the stock from $8.70 to $3.80 in a report on Monday, October 7th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $8.00 price target on shares of Evotec in a report on Thursday, November 7th. One investment 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 MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $5.93.

Hedge Funds Weigh In On Evotec

A number of institutional investors have recently bought and sold shares of EVO. Novo Holdings A S bought a new stake in shares of Evotec during the 2nd quarter worth about $71,183,000. Wellington Management Group LLP raised its holdings in Evotec by 29.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,634,434 shares of the company’s stock valued at $9,616,000 after acquiring an additional 602,858 shares in the last quarter. Mediolanum International Funds Ltd acquired a new position in Evotec in the 3rd quarter valued at approximately $512,000. DCF Advisers LLC raised its holdings in Evotec by 140.5% in the 2nd 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 in the last quarter. Finally, Clear Harbor Asset Management LLC acquired a new position in Evotec in the 3rd quarter valued at approximately $104,000. Hedge funds and other institutional investors own 5.81% of the company’s stock.

Evotec Stock Performance

Shares of EVO traded down $0.40 during mid-day trading on Tuesday, reaching $5.15. 218,988 shares of the company’s stock traded hands, compared to its average volume of 131,220. The business’s 50-day moving average price is $3.66 and its 200-day moving average price is $4.19. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.99 and a current ratio of 2.09. Evotec has a 12 month low of $2.85 and a 12 month high of $12.00.

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.