Evotec (NASDAQ:EVO) Sees Unusually-High Trading Volume – Here’s What Happened

Evotec SE (NASDAQ:EVO) saw unusually-high 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 Ratings Changes

A number of research analysts have weighed in on the stock. Jefferies Financial Group cut shares of Evotec from a “buy” rating to a “hold” rating and dropped their target price for the company from $8.70 to $3.80 in a research note on Monday, October 7th. HC Wainwright reiterated a “buy” rating and issued a $8.00 price objective on shares of Evotec in a research note on Thursday, November 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 business’s 50-day simple moving average is $4.59 and its two-hundred day simple moving average is $4.08.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Evotec during the second quarter worth $87,000. Clear Harbor Asset Management LLC bought a new stake in shares of Evotec during the 3rd quarter valued at $104,000. Mediolanum International Funds Ltd purchased a new stake in Evotec during the 3rd quarter worth about $512,000. Wellington Management Group LLP boosted its stake in Evotec by 29.7% in the 3rd 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 period. Finally, Novo Holdings A S bought a new position in Evotec in the 2nd quarter worth about $71,183,000. 5.81% of the stock is owned by 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.