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

Shares of Evotec SE (NASDAQ:EVO) saw unusually-high trading volume on Thursday . Approximately 338,948 shares were traded during mid-day trading, an increase of 208% from the previous session’s volume of 110,085 shares.The stock last traded at $5.31 and had previously closed at $5.25.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on EVO shares. HC Wainwright dropped their price target on shares of Evotec from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Royal Bank of Canada upgraded Evotec from a “sector perform” rating to an “outperform” rating in a report on Thursday, January 18th. Finally, Deutsche Bank Aktiengesellschaft upgraded Evotec from a “hold” rating to a “buy” rating in a research report on Friday, April 12th.

Evotec Stock Performance

The firm’s fifty day simple moving average is $7.03 and its 200 day simple moving average is $8.48.

Institutional Trading of Evotec

Several hedge funds and other institutional investors have recently modified their holdings of EVO. Quadrant Capital Group LLC bought a new stake in shares of Evotec in the fourth quarter worth $25,000. Optiver Holding B.V. lifted its position in Evotec by 643.1% during the 4th quarter. Optiver Holding B.V. now owns 80,810 shares of the company’s stock worth $945,000 after buying an additional 69,936 shares in the last quarter. Finally, Mubadala Investment Co PJSC acquired a new position in shares of Evotec during the 4th quarter worth about $53,931,000. Institutional investors and hedge funds 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.