Evotec (NASDAQ:EVO) Sees Large Volume Increase – What’s Next?

Evotec SE (NASDAQ:EVO) saw unusually-strong trading volume on Friday . Approximately 100,459 shares traded hands during mid-day trading, a decline of 5% from the previous session’s volume of 106,043 shares.The stock last traded at $3.89 and had previously closed at $3.87.

Analyst Ratings Changes

Several equities research analysts have weighed in on EVO shares. Morgan Stanley cut Evotec from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $15.00 to $6.00 in a report on Monday, July 29th. HC Wainwright decreased their target price on Evotec from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lowered Evotec from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Finally, Jefferies Financial Group lowered Evotec from a “buy” rating to a “hold” rating and decreased their target price for the stock from $8.70 to $3.80 in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $5.93.

Evotec Price Performance

The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.73 and a current ratio of 1.83. The stock has a 50-day moving average of $3.46 and a two-hundred day moving average of $4.33.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Novo Holdings A S bought a new position in Evotec during the 2nd quarter valued at approximately $71,183,000. Cetera Advisors LLC bought a new position in Evotec during the 1st quarter valued at approximately $188,000. Vanguard Personalized Indexing Management LLC bought a new position in Evotec during the 2nd quarter valued at approximately $87,000. DCF Advisers LLC increased its position 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 buying an additional 67,156 shares in the last quarter. Finally, Mediolanum International Funds Ltd purchased a new stake in Evotec during the 3rd quarter valued at $512,000. Institutional investors 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.