Evotec (NASDAQ:EVO) Sees Large Volume Increase – Here’s Why

Shares of Evotec SE (NASDAQ:EVO) saw unusually-strong trading volume on Wednesday . Approximately 39,935 shares traded hands during trading, a decline of 21% from the previous session’s volume of 50,270 shares.The stock last traded at $4.18 and had previously closed at $4.13.

Analyst Upgrades and Downgrades

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

Evotec Price Performance

The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 0.43. The stock’s fifty day moving average is $4.60 and its 200 day moving average is $4.08.

Institutional Investors Weigh In On Evotec

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC bought a new stake in Evotec during the second quarter worth about $87,000. Clear Harbor Asset Management LLC purchased a new stake in shares of Evotec during the 3rd quarter valued at about $104,000. Mediolanum International Funds Ltd bought a new position in Evotec during the third quarter valued at approximately $512,000. Wellington Management Group LLP boosted its holdings in Evotec by 29.7% in the third quarter. Wellington Management Group LLP now owns 2,634,434 shares of the company’s stock worth $9,616,000 after purchasing an additional 602,858 shares during the last quarter. Finally, Novo Holdings A S bought a new stake in shares of Evotec in the second quarter worth $71,183,000. Hedge funds and other institutional investors own 5.81% of the company’s stock.

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.