Evotec (NASDAQ:EVO) Sees Strong Trading Volume

Evotec SE (NASDAQ:EVO) saw an uptick in trading volume on Thursday . 369,542 shares were traded during mid-day trading, an increase of 296% from the previous session’s volume of 93,303 shares.The stock last traded at $5.02 and had previously closed at $5.23.

Analyst Upgrades and Downgrades

EVO has been the topic of several recent research reports. Royal Bank of Canada upgraded Evotec from a “sector perform” rating to an “outperform” rating in a research report on Thursday, January 18th. Deutsche Bank Aktiengesellschaft upgraded Evotec from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Finally, HC Wainwright lowered their price objective on Evotec from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday.

Evotec Stock Down 2.5 %

The business has a fifty day moving average of $7.33 and a 200 day moving average of $8.67.

Institutional Trading of Evotec

Several institutional investors have recently added to or reduced their stakes in EVO. Quadrant Capital Group LLC acquired a new stake in shares of Evotec in the 4th quarter valued at approximately $25,000. Optiver Holding B.V. increased its stake in Evotec by 643.1% in the 4th quarter. Optiver Holding B.V. now owns 80,810 shares of the company’s stock worth $945,000 after purchasing an additional 69,936 shares during the period. Finally, Mubadala Investment Co PJSC purchased a new position in shares of Evotec in the fourth quarter worth $53,931,000. Institutional investors and hedge funds 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 diabetes and complications, fibrosis, infectious diseases, CNS diseases, oncology, pain and inflammation, immunology, rare diseases, respiratory diseases, and women's health.