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

Evotec SE (NASDAQ:EVO) shares saw unusually-strong trading volume on Thursday . Approximately 38,169 shares were traded during trading, a decline of 24% from the previous session’s volume of 49,954 shares.The stock last traded at $4.39 and had previously closed at $4.22.

Analysts Set New Price Targets

A number of research firms recently issued reports on EVO. HC Wainwright reissued a “buy” rating and set a $8.00 price target on shares of Evotec in a report on Thursday, November 7th. Jefferies Financial Group lowered 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 report 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 firm’s fifty day moving average is $4.47 and its 200-day moving average is $4.05.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Wellington Management Group LLP grew its holdings in shares of 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 acquiring an additional 602,858 shares during the period. Mediolanum International Funds Ltd acquired a new stake in Evotec in the third quarter valued at $512,000. Finally, Clear Harbor Asset Management LLC purchased a new position in shares of Evotec in the third quarter valued at $104,000. 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.