Evotec (NASDAQ:EVO) Sees Strong Trading Volume – Here’s What Happened

Shares of Evotec SE (NASDAQ:EVO) saw an uptick in trading volume on Thursday . 348,849 shares changed hands during mid-day trading, an increase of 209% from the previous session’s volume of 112,926 shares.The stock last traded at $4.22 and had previously closed at $3.87.

Analysts Set New Price Targets

Several brokerages recently issued reports on EVO. Morgan Stanley cut shares of Evotec from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $15.00 to $6.00 in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lowered shares of Evotec from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. HC Wainwright restated a “buy” rating and issued a $8.00 target price on shares of Evotec in a report on Thursday. Finally, Jefferies Financial Group cut shares of Evotec from a “buy” rating to a “hold” rating and dropped their price target for the company from $8.70 to $3.80 in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Evotec has an average rating of “Hold” and a consensus target price of $5.93.

Evotec Price Performance

The company has a quick ratio of 1.73, a current ratio of 1.83 and a debt-to-equity ratio of 0.42. The business’s fifty day simple moving average is $3.50 and its 200 day simple moving average is $4.25.

Institutional Trading of Evotec

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EVO. Novo Holdings A S acquired a new position in shares of Evotec in the 2nd quarter valued at $71,183,000. Cetera Advisors LLC bought a new stake in Evotec in the first quarter valued at approximately $188,000. Vanguard Personalized Indexing Management LLC bought a new position in Evotec in the 2nd quarter valued at about $87,000. DCF Advisers LLC boosted its position in shares of 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. Finally, Mediolanum International Funds Ltd acquired a new position in Evotec in the 3rd quarter valued at $512,000. 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.