Evotec (NASDAQ:EVO) Sees Large Volume Increase - What's Next?

Evotec SE (NASDAQ:EVO - Get Free Report) shares saw unusually-strong trading volume on Monday . Approximately 70,236 shares changed hands during mid-day trading, a decline of 34% from the previous session's volume of 106,925 shares.The stock last traded at $3.23 and had previously closed at $3.22.

Analyst Upgrades and Downgrades

EVO has been the topic of a number of research analyst reports. Jefferies Financial Group lowered shares of Evotec from a "buy" rating to a "hold" rating and lowered their target price for the company from $8.70 to $3.80 in a research note on Monday, October 7th. HC Wainwright lowered their price target on Evotec from $11.00 to $8.00 and set a "buy" rating on the stock in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lowered Evotec from a "hold" rating to a "sell" rating in a research note on Thursday, August 8th. Finally, Morgan Stanley downgraded Evotec from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $15.00 to $6.00 in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $5.93.

Evotec Trading Down 1.6 %

The firm's fifty day moving average price is $3.36 and its 200-day moving average price is $4.56. The company has a current ratio of 1.83, a quick ratio of 1.73 and a debt-to-equity ratio of 0.42.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Evotec during the 2nd quarter worth about $87,000. Cetera Advisors LLC acquired a new stake in shares of Evotec during the first quarter worth approximately $188,000. DCF Advisers LLC raised its stake in shares of Evotec by 140.5% in the second quarter. DCF Advisers LLC now owns 114,953 shares of the company's stock valued at $552,000 after acquiring an additional 67,156 shares during the last quarter. Finally, Novo Holdings A S acquired a new position in shares of Evotec in the 2nd quarter worth approximately $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.