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

Shares of Evotec SE (NASDAQ:EVOGet Free Report) saw unusually-strong trading volume on Friday . Approximately 385,764 shares were traded during 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.

Analysts Set New Price Targets

A number of research analysts recently commented on EVO shares. Morgan Stanley cut Evotec from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $15.00 to $6.00 in a research note on Monday, July 29th. Jefferies Financial Group lowered shares of Evotec from a “buy” rating to a “hold” rating and lowered their price target for the company from $8.70 to $3.80 in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft cut Evotec from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Finally, HC Wainwright restated a “buy” rating and set a $8.00 target price on shares of Evotec in a report on Thursday, November 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.93.

Check Out Our Latest Stock Report on Evotec

Evotec Stock Down 16.1 %

The business has a fifty day simple moving average of $3.83 and a 200-day simple moving average of $4.20. The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 0.43.

Hedge Funds Weigh In On Evotec

Several large investors have recently made changes to their positions in EVO. Vanguard Personalized Indexing Management LLC bought a new position in Evotec during the 2nd quarter valued at approximately $87,000. Cetera Advisors LLC bought a new position in Evotec during the first quarter valued at approximately $188,000. Clear Harbor Asset Management LLC purchased a new stake in Evotec in the third quarter worth approximately $104,000. DCF Advisers LLC grew 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 worth $552,000 after acquiring an additional 67,156 shares during the period. Finally, Mediolanum International Funds Ltd purchased a new stake in Evotec during the third quarter valued at $512,000. 5.81% of the stock is currently owned by hedge funds and other institutional investors.

About Evotec

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for Evotec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Evotec and related companies with MarketBeat.com's FREE daily email newsletter.