Evotec (NASDAQ:EVO) Sees Unusually-High Trading Volume – Here’s What Happened

Evotec SE (NASDAQ:EVO) saw unusually-high trading volume on Friday . Approximately 385,764 shares traded hands during mid-day trading, an increase of 192% from the previous session’s volume of 132,151 shares.The stock last traded at $4.40 and had previously closed at $5.35.

Analyst Upgrades and Downgrades

EVO has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lowered Evotec from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Jefferies Financial Group lowered Evotec from a “buy” rating to a “hold” rating and reduced their target price for the stock from $8.70 to $3.80 in a research note on Monday, October 7th. HC Wainwright restated a “buy” rating and issued a $8.00 target price on shares of Evotec in a research note on Thursday, November 7th. Finally, Morgan Stanley lowered 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 research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Evotec presently has a consensus rating of “Hold” and an average price target of $5.93.

Evotec Stock Performance

The firm has a 50-day simple moving average of $3.81 and a two-hundred day simple moving average of $4.21. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.99 and a current ratio of 2.09.

Institutional Investors Weigh In On Evotec

A number of institutional investors have recently modified their holdings of the business. Wellington Management Group LLP grew its position in shares of Evotec by 29.7% during 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 during the period. Clear Harbor Asset Management LLC purchased a new position in Evotec in the 3rd quarter valued at about $104,000. Mediolanum International Funds Ltd purchased a new position in Evotec in the 3rd quarter valued at about $512,000. Novo Holdings A S purchased a new position in Evotec in the 2nd quarter valued at about $71,183,000. Finally, DCF Advisers LLC lifted its stake 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 buying an additional 67,156 shares in the last quarter. 5.81% of the stock is currently owned by institutional investors and hedge funds.

Evotec Company Profile

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.