Evotec (NASDAQ:EVO) Sees Strong Trading Volume

Evotec SE (NASDAQ:EVO - Get Free Report) shares saw strong trading volume on Tuesday . 309,299 shares traded hands during mid-day trading, an increase of 172% from the previous session's volume of 113,802 shares.The stock last traded at $5.54 and had previously closed at $5.35.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Royal Bank of Canada upgraded shares of Evotec from a "sector perform" rating to an "outperform" rating in a research note on Thursday, January 18th. Deutsche Bank Aktiengesellschaft raised Evotec from a "hold" rating to a "buy" rating in a report on Friday, April 12th. Finally, HC Wainwright cut their target price on shares of Evotec from $14.00 to $11.00 and set a "buy" rating on the stock in a report on Thursday, April 25th.

Evotec Stock Performance

The business has a 50-day simple moving average of $6.75 and a two-hundred day simple moving average of $8.32.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in EVO. Mubadala Investment Co PJSC purchased a new stake in shares of Evotec during the 4th quarter worth approximately $53,931,000. Optiver Holding B.V. boosted its position in Evotec by 643.1% during the fourth 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 in the last quarter. Finally, Quadrant Capital Group LLC acquired a new stake in Evotec in the fourth quarter valued at $25,000. 5.81% of the stock is owned by hedge funds and other 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.

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