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

Evotec AG (NASDAQ:EVO) shares saw unusually-high trading volume on Wednesday . Approximately 151,514 shares traded hands during mid-day trading, an increase of 56% from the previous session’s volume of 97,415 shares.The stock last traded at $1.9850 and had previously closed at $1.95.

Analyst Upgrades and Downgrades

EVO has been the subject of a number of research reports. Berenberg Bank cut Evotec from a “buy” rating to a “hold” rating in a research report on Thursday, July 16th. HC Wainwright reduced their price objective on Evotec from $7.00 to $4.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. TD Cowen lowered Evotec from a “buy” rating to a “hold” rating and set a $2.00 target price on the stock. in a research report on Wednesday, July 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Evotec in a report on Tuesday, July 21st. Finally, Wall Street Zen lowered shares of Evotec from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $3.00.

Evotec Stock Up 1.5%

The stock has a 50 day simple moving average of $2.48 and a two-hundred day simple moving average of $2.86. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.60 and a current ratio of 1.68.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of EVO. ABC Arbitrage SA increased its holdings in Evotec by 319.7% in the fourth quarter. ABC Arbitrage SA now owns 554,287 shares of the company’s stock valued at $1,707,000 after buying an additional 422,230 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Evotec by 25.7% during the 4th quarter. Wellington Management Group LLP now owns 1,797,444 shares of the company’s stock valued at $5,536,000 after acquiring an additional 367,545 shares during the period. Optiver Holding B.V. grew its position in shares of Evotec by 598.4% during the 1st quarter. Optiver Holding B.V. now owns 283,576 shares of the company’s stock valued at $709,000 after acquiring an additional 242,973 shares during the period. Jane Street Group LLC purchased a new position in shares of Evotec in the 4th quarter valued at about $565,000. Finally, Millennium Management LLC acquired a new position in Evotec in the 4th quarter worth about $317,000. 5.81% of the stock is owned by institutional investors and hedge funds.

Evotec Company Profile

Evotec SE (NASDAQ:EVO) is a global biotechnology company headquartered in Hamburg, Germany, specializing in drug discovery and development partnerships. The company leverages its integrated discovery platforms to support pharmaceutical and biotech clients in advancing novel therapies from target identification through preclinical development.

Evotec’s service offering encompasses high-throughput screening, bioanalytics, combinatorial chemistry, structural biology, pharmacology, and computational drug design.