Evotec share: the riddle … and the possible solution

Good news, a million dollar payment from Bristol Myers Squibb, positive voices from equity experts – and yet Evotec stock seems to have fallen into a deep sleep. Various news from and about the Hamburg biotech company was enough to break out of the latest sideways movement between EUR 21.31 / EUR 21.47 and EUR 23.36 / 23.52, which has been shaping the technical picture of the Evotec share for several weeks not recently.

In a first response to the news about the Cooperation between Evotec and Bristol Myers Squibb the analysts from Baader Helvea Equity Research had given Evotec shares an “Add” rating and a price target of EUR 28. With the iPSC platform, Evotec offers the pharmaceutical industry an alternative approach to the usual approach in research and development.

Deutsche Bank also sees the target for the Evotec share at EUR 28, but rates the biotech share as “Buy”. There are also words of praise for them from here Evotec iSPC platform.

Short sellers remain very active at Evotec

In addition, Evotec issued two voting rights notifications on Friday. Firstly, about BlackRock’s position: As of October 5th, the fund company held 3.17 percent of Evotec shares, compared to 2.61 percent previously. Together with the voting rights from instruments according to Section 38 of the WpHG BlackRock comes to 3.51 percent. On the other hand, about Morgan Stanley: Their position in Evotec shares has fallen from 1.54 percent to 0.92 percent. In contrast, the position from the instruments according to Section 38 WpHG has risen from 12.67 percent to 13.48 percent (!). With the exception of a smaller proportion, this consists almost exclusively of recall rights for securities lending contracts – short-seller transactions: a possible reason for the poor performance of the TecDAX-listed biotech share.

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At a glance – chart and news: Evotec


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