Evotec (NASDAQ:EVO) Shares Down 6.8% - Here's What Happened

Evotec SE (NASDAQ:EVO - Get Free Report)'s share price traded down 6.8% during mid-day trading on Tuesday . The company traded as low as $4.39 and last traded at $4.41. 35,717 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 131,540 shares. The stock had previously closed at $4.73.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Royal Bank of Canada reiterated an "outperform" rating on shares of Evotec in a research report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft upgraded Evotec from a "sell" rating to a "hold" rating in a research report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Evotec has an average rating of "Hold" and an average price target of $5.93.

Evotec Trading Down 0.5%

The company has a debt-to-equity ratio of 0.43, a current ratio of 2.09 and a quick ratio of 1.99. The stock has a 50-day simple moving average of $3.77 and a 200-day simple moving average of $4.18.

Institutional Trading of Evotec

Several hedge funds and other institutional investors have recently made changes to their positions in EVO. BNP Paribas Financial Markets bought a new stake in shares of Evotec during the fourth quarter worth about $27,000. CSS LLC IL bought a new stake in shares of Evotec during the fourth quarter worth about $50,000. Bank of America Corp DE lifted its stake in shares of Evotec by 262.5% in the fourth quarter. Bank of America Corp DE now owns 12,828 shares of the company's stock worth $53,000 after acquiring an additional 9,289 shares during the period. Lighthouse Investment Partners LLC acquired a new position in shares of Evotec in the fourth quarter worth approximately $166,000. Finally, ABC Arbitrage SA acquired a new position in shares of Evotec in the first quarter worth approximately $260,000. 5.81% of the stock is currently 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.