Evotec (NASDAQ:EVO) Sees Large Volume Increase – Here’s What Happened

Shares of Evotec SE (NASDAQ:EVO) saw an uptick in trading volume on Friday . 571,431 shares changed hands during trading, an increase of 348% from the previous session’s volume of 127,496 shares.The stock last traded at $5.51 and had previously closed at $5.10.

Wall Street Analysts Forecast Growth

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

Evotec Trading Up 8.4 %

The firm’s fifty day moving average price is $3.61 and its 200-day moving average price is $4.20. The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 0.43.

Institutional Trading of Evotec

A number of institutional investors and hedge funds have recently modified their holdings of EVO. Novo Holdings A S acquired a new position in Evotec in the second quarter worth about $71,183,000. Cetera Advisors LLC acquired a new position in shares of Evotec in the 1st quarter worth approximately $188,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Evotec in the 2nd quarter worth approximately $87,000. DCF Advisers LLC lifted its position in shares of Evotec by 140.5% during the 2nd quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock worth $552,000 after buying an additional 67,156 shares during the period. Finally, Mediolanum International Funds Ltd acquired a new stake in Evotec in the 3rd quarter valued at $512,000. 5.81% of the stock is currently owned by 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 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.