Evotec (NASDAQ:EVO) Sees Unusually-High Trading Volume

Shares of Evotec SE (NASDAQ:EVO) saw strong trading volume on Monday . 317,341 shares traded hands during mid-day trading, an increase of 207% from the previous session’s volume of 103,512 shares.The stock last traded at $4.33 and had previously closed at $4.42.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on EVO shares. HC Wainwright reiterated a “buy” rating and set a $11.00 price objective on shares of Evotec in a research note on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft lowered Evotec from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Finally, Morgan Stanley lowered shares of Evotec from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $15.00 to $6.00 in a report on Monday, July 29th.

Evotec Price Performance

The business has a 50-day moving average of $4.76 and a 200-day moving average of $6.16. The company has a current ratio of 1.86, a quick ratio of 1.79 and a debt-to-equity ratio of 0.43.

Institutional Investors Weigh In On Evotec

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quadrant Capital Group LLC purchased a new position in Evotec during the fourth quarter worth about $25,000. Cetera Advisors LLC acquired a new position in Evotec during the first quarter worth $188,000. Optiver Holding B.V. raised its position in Evotec by 643.1% in the fourth quarter. Optiver Holding B.V. now owns 80,810 shares of the company’s stock worth $945,000 after acquiring an additional 69,936 shares in the last quarter. Finally, Mubadala Investment Co PJSC acquired a new stake in Evotec in the fourth quarter valued at $53,931,000. 5.81% of the stock is owned by hedge funds and other institutional investors.

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.