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

Evotec AG (NASDAQ:EVO) shares saw strong trading volume on Monday. 143,696 shares were traded during trading, an increase of 43% from the previous session’s volume of 100,289 shares. The stock last traded at $1.5810 and had previously closed at $1.56.

Analysts Set New Price Targets

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

Evotec Price Performance

The company has a current ratio of 2.33, a quick ratio of 2.21 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average price of $1.87 and a 200-day moving average price of $2.44.

Institutional Investors Weigh In On Evotec

Hedge funds have recently bought and sold shares of the company. Optiver Holding B.V. lifted its holdings in shares of Evotec by 598.4% during the 1st quarter. Optiver Holding B.V. now owns 283,576 shares of the company’s stock valued at $709,000 after purchasing an additional 242,973 shares in the last quarter. WCM Investment Management LLC lifted its stake in 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 buying an additional 67,917 shares in the last quarter. Fore Capital LLC bought a new stake in shares of Evotec during the fourth quarter worth $97,000. SmartHarvest Portfolios LLC acquired a new stake in shares of Evotec during the first quarter worth $44,000. Finally, Apollon Wealth Management LLC bought a new stake in Evotec in the 1st quarter valued at $28,000. 5.81% of the stock is currently owned by institutional investors and hedge funds.

About Evotec

Evotec SE is a Germany-based biotechnology company that provides drug discovery and development services to pharmaceutical, biotechnology and academic organizations. The company works across the research process, from early-stage target identification and assay development through hit identification, lead optimization, preclinical research and translational development.

Evotec uses technology platforms and scientific expertise in areas including small-molecule drug discovery, biologics, protein degradation, cell and gene therapy, and precision medicine.