Evotec (NASDAQ:EVO) Sees Strong Trading Volume – Here’s Why

Evotec SE (NASDAQ:EVO) saw strong trading volume on Thursday . 38,169 shares were traded during trading, a decline of 24% from the previous session’s volume of 49,954 shares.The stock last traded at $4.39 and had previously closed at $4.22.

Analyst Ratings Changes

Several equities analysts have recently weighed in on EVO shares. HC Wainwright reiterated a “buy” rating and issued a $8.00 price target on shares of Evotec in a research report on Thursday, November 7th. Jefferies Financial Group cut Evotec from a “buy” rating to a “hold” rating and decreased their price target for the company from $8.70 to $3.80 in a research report on Monday, October 7th.

Evotec Trading Up 7.0 %

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 firm’s fifty day moving average price is $4.48 and its two-hundred day moving average price is $4.05.

Hedge Funds Weigh In On Evotec

Institutional investors have recently added to or reduced their stakes in the business. Clear Harbor Asset Management LLC purchased a new position in shares of Evotec during the third quarter worth about $104,000. Mediolanum International Funds Ltd bought a new stake in Evotec during the third quarter valued at approximately $512,000. Finally, Wellington Management Group LLP grew its stake in Evotec by 29.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,634,434 shares of the company’s stock worth $9,616,000 after buying an additional 602,858 shares in the last quarter. 5.81% of the stock is currently owned by institutional investors.

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.