Evotec (NASDAQ:EVO) Sees Strong Trading Volume

Shares of 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.

Analysts Set New Price Targets

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

Evotec Trading Down 6.9 %

The company has a 50 day moving average of $3.82 and a two-hundred day moving average of $5.16. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.73 and a current ratio of 1.83.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Novo Holdings A S purchased a new position in Evotec during the 2nd quarter worth $71,183,000. DCF Advisers LLC grew its stake in Evotec by 140.5% during the 2nd quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock valued at $552,000 after purchasing an additional 67,156 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in Evotec during the 2nd quarter valued at about $87,000. Cetera Advisors LLC purchased a new stake in Evotec during the 1st quarter valued at about $188,000. Finally, Mubadala Investment Co PJSC purchased a new stake in Evotec during the 4th quarter valued at about $53,931,000. 5.81% of the stock is currently 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.