Evotec (NASDAQ:EVO) Stock Price Up 9.4% – Here’s What Happened

Evotec SE (NASDAQ:EVO) shot up 9.4% during mid-day trading on Tuesday . The company traded as high as $4.88 and last traded at $4.88. 37,466 shares traded hands during trading, a decline of 73% from the average session volume of 139,108 shares. The stock had previously closed at $4.46.

Analysts Set New Price Targets

EVO has been the topic of several recent analyst reports. Jefferies Financial Group downgraded Evotec from a “buy” rating to a “hold” rating and reduced their price target for the company from $8.70 to $3.80 in a report on Monday, October 7th. HC Wainwright reiterated a “buy” rating and set a $8.00 target price on shares of Evotec in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.93.

Evotec Trading Up 12.1 %

The company has a debt-to-equity ratio of 0.43, a current ratio of 2.09 and a quick ratio of 1.99. The business’s 50 day moving average price is $4.40 and its 200-day moving average price is $4.13.

Institutional Trading of Evotec

Several institutional investors and hedge funds have recently bought and sold shares of the company. Novo Holdings A S acquired a new stake in shares of Evotec during the second quarter worth $71,183,000. 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 buying an additional 602,858 shares during the last quarter. Mediolanum International Funds Ltd acquired a new stake in Evotec during the third quarter worth about $512,000. DCF Advisers LLC lifted its holdings in 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 last quarter. Finally, Clear Harbor Asset Management LLC acquired a new position in Evotec in the third quarter valued at approximately $104,000. Institutional investors and hedge funds own 5.81% of the company’s stock.

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.