Evotec (NASDAQ:EVO) Sees Large Volume Increase – Still a Buy?

Evotec SE (NASDAQ:EVO) saw unusually-high trading volume on Tuesday . Approximately 118,691 shares were traded during mid-day trading, a decline of 12% from the previous session’s volume of 134,233 shares.The stock last traded at $4.04 and had previously closed at $4.13.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on EVO shares. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Evotec in a report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft upgraded Evotec from a “sell” rating to a “hold” rating in a research note on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5.93.

Evotec Stock Down 1.2%

The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 0.43. The firm’s fifty day moving average is $3.99 and its two-hundred day moving average is $4.09.

Hedge Funds Weigh In On Evotec

Hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets purchased a new position in Evotec in the 4th quarter worth approximately $27,000. DCF Advisers LLC grew its stake in Evotec by 5.9% during the fourth quarter. DCF Advisers LLC now owns 229,871 shares of the company’s stock valued at $956,000 after acquiring an additional 12,816 shares in the last quarter. CSS LLC IL purchased a new position in Evotec during the fourth quarter valued at $50,000. Lighthouse Investment Partners LLC bought a new stake in Evotec in the 4th quarter valued at $166,000. Finally, Bank of America Corp DE lifted its stake in Evotec by 262.5% in the 4th quarter. Bank of America Corp DE now owns 12,828 shares of the company’s stock worth $53,000 after purchasing an additional 9,289 shares in the last quarter. Institutional investors own 5.81% of the company’s stock.

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.