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

Evotec AG (NASDAQ:EVO) shares saw unusually-strong trading volume on Tuesday. Approximately 119,527 shares traded hands during trading, an increase of 17% from the previous session’s volume of 102,028 shares. The stock last traded at $1.6350 and had previously closed at $1.66.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Weiss Ratings cut shares of Evotec from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 25th. Berenberg Bank downgraded Evotec from a “buy” rating to a “hold” rating in a research note on Thursday, July 16th. TD Cowen lowered Evotec from a “buy” rating to a “hold” rating and set a $2.00 target price for the company. in a research report on Wednesday, July 15th. Finally, HC Wainwright cut their price target on Evotec from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $3.00.

Evotec Stock Down 1.2%

The company has a debt-to-equity ratio of 0.62, a current ratio of 2.33 and a quick ratio of 2.21. The business has a 50-day moving average of $1.81 and a 200 day moving average of $2.40.

Institutional Investors Weigh In On Evotec

Institutional investors have recently added to or reduced their stakes in the company. Optiver Holding B.V. lifted its position in shares of Evotec by 598.4% during the first quarter. Optiver Holding B.V. now owns 283,576 shares of the company’s stock worth $709,000 after acquiring an additional 242,973 shares in the last quarter. WCM Investment Management LLC grew its position in shares of Evotec by 12.1% in the first quarter. WCM Investment Management LLC now owns 627,260 shares of the company’s stock valued at $1,480,000 after purchasing an additional 67,917 shares in the last quarter. SmartHarvest Portfolios LLC bought a new stake in shares of Evotec during the 1st quarter valued at $44,000. Finally, Apollon Wealth Management LLC bought a new stake in shares of Evotec during the 1st quarter valued at $28,000. 5.81% of the stock is owned by institutional investors.

Evotec Company Profile

Evotec SE is a life sciences company headquartered in Hamburg, Germany, that provides drug discovery and development services to pharmaceutical, biotechnology and academic partners. Founded in 1993, the company supports programs from early-stage research through preclinical and clinical development, with expertise in small-molecule and biologic therapies.

Its activities include target identification and validation, screening, medicinal chemistry, pharmacology, drug manufacturing support and development services.