FRANKFURT (dpa-AFX Broker) - Evotec shares continued their recovery rally on Friday afternoon. The drug discovery company's shares rose by almost 11 percent to around €7.80 at midday, their highest level since the beginning of March.
They are thus approaching the exponential 200-day line at just over €8 again. The day before, they had initially fallen back to 6.60 euros, but buyers then regained the upper hand at the 50-day line.
In the longer-term chart, they remain in a bottoming pattern after slumping from their long-term interim high of around €46 in September 2021 to €5.06 in April this year. The company is undergoing a strategic realignment with a significant streamlining of its project portfolio.
With a market value of just under 1.4 billion euros, Evotec is now one of the lightweights in the MDax. In 2021, the company was in the middle of the MDax with a market capitalization of more than seven billion euros. /ag/zb
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