Evotec (NASDAQ:EVO) Sees Strong Trading Volume

Evotec SE (NASDAQ:EVO) saw unusually-strong trading volume on Thursday . Approximately 92,491 shares were traded during mid-day trading, a decline of 13% from the previous session’s volume of 105,718 shares.The stock last traded at $3.62 and had previously closed at $3.64.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on EVO shares. HC Wainwright lowered their target price on Evotec from $11.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft downgraded Evotec from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Finally, Morgan Stanley downgraded Evotec from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $15.00 to $6.00 in a research note on Monday, July 29th.

Evotec Stock Down 6.9 %

The company has a quick ratio of 1.73, a current ratio of 1.83 and a debt-to-equity ratio of 0.42. The business has a fifty day moving average of $3.82 and a two-hundred day moving average of $5.16.

Hedge Funds Weigh In On Evotec

A number of large investors have recently bought and sold shares of the business. Novo Holdings A S acquired a new position in Evotec in the 2nd quarter worth about $71,183,000. DCF Advisers LLC raised its holdings in Evotec by 140.5% in the 2nd quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock worth $552,000 after purchasing an additional 67,156 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new position in Evotec in the 2nd quarter worth about $87,000. Cetera Advisors LLC acquired a new position in Evotec in the 1st quarter worth about $188,000. Finally, Mubadala Investment Co PJSC acquired a new position in Evotec in the 4th quarter worth about $53,931,000. 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.