Evotec share under pressure: Ex-CEO Lanthaler and major shareholder Oetker in focus - stock deals & regulatory violations revealed

Evotec share under pressure: Ex-CEO Lanthaler and major shareholder Oetker in focus - stock deals & regulatory violations revealed

According to a report by www.deraktionaer.de,
The resignation of Evotec's former CEO, Werner Lanthaler, continues to weigh on Evotec's shares. The paper came under massive pressure in the first week of January after the surprising resignation was announced. The focus is in particular on numerous stock deals that the manager carried out during his time on the board but did not comply with his reporting obligations. A report in Manager Magazine from the weekend revealed further details.

As Manager Magazin reports, major shareholder Oetker and the then CEO Lanthaler sold Evotec shares on a large scale in 2021. While Oetker announced this, Lanthaler kept it quiet - and thus probably violated legal reporting requirements, according to the magazine. Between January and October 2021, Lanthaler sold Evotec shares for more than six million euros - one month before major shareholder Oetker caused selling pressure with his voting rights notification.

Such transactions normally have to be reported within a few days. The company itself probably only became aware of the events at the end of 2023, which is why Evotec subsequently reported the transactions.

Lanthaler officially stated his resignation: "After an extremely challenging and both physically and overall exhausting year 2023, as well as after in-depth reflection over the past few weeks and looking into the new year, I have come to the decision to step down as CEO."

The first analysts have now taken a closer look at Evotec's shares again. The Canadian bank RBC confirmed its “Sector Perform” vote and the price target of 18.60 euros. Analyst Charles Weston emphasized, however, that although the company had complied with regulatory requirements with its recent publications, the CEO's actions had put the company in a bad light.

The uncertainty at Evotec is likely to continue for some time. The first positive technical chart signal would only result in the recapture of the 200-day line. When the situation has calmed down again and a good successor has been found, the stock market will concentrate again on the fundamental opportunities. Until then, the stock is likely to continue to be volatile.

As a financial expert, I analyze the situation and come to the conclusion that the resignation of Werner Lanthaler and the revelations about unreported stock deals during his time on the board increase the uncertainty surrounding Evotec. This could lead to temporary volatile stock performance as investors wait for the situation to calm down and a new CEO to be appointed. The successful replacement of the leadership position and the recapture of the 200-day line could represent positive signals for the long-term development of Evotec.