Evotec (NASDAQ:EVO) Sees Strong Trading Volume – What’s Next?

Shares of Evotec SE (NASDAQ:EVO) saw strong 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.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on EVO shares. HC Wainwright restated a “buy” rating and issued a $8.00 price target on shares of Evotec in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lowered 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 dropped their price target for the stock from $8.70 to $3.80 in a research note on Monday, October 7th. Finally, Morgan Stanley downgraded shares of Evotec from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $15.00 to $6.00 in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Evotec has an average rating of “Hold” and a consensus price target of $5.93.

Evotec Stock Up 6.7 %

The firm has a 50-day moving average price of $3.66 and a two-hundred day moving average price of $4.20. 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

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its holdings in Evotec by 29.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,634,434 shares of the company’s stock worth $9,616,000 after purchasing an additional 602,858 shares during the period. Clear Harbor Asset Management LLC bought a new position in shares of Evotec during the 3rd quarter worth $104,000. Mediolanum International Funds Ltd purchased a new position in shares of Evotec during the third quarter valued at $512,000. Novo Holdings A S bought a new stake in shares of Evotec in the second quarter valued at about $71,183,000. Finally, DCF Advisers LLC raised its holdings 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 in the last quarter. Institutional investors 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.