Evotec (NASDAQ:EVO) Sees Strong Trading Volume – Still a Buy?

Evotec AG (NASDAQ:EVO) shares saw an uptick in trading volume on Wednesday . 151,514 shares traded hands during mid-day trading, an increase of 56% from the previous session’s volume of 97,415 shares.The stock last traded at $1.9850 and had previously closed at $1.95.

Analyst Ratings Changes

EVO has been the subject of several analyst reports. HC Wainwright decreased their target price on Evotec from $7.00 to $4.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. TD Cowen cut shares of Evotec from a “buy” rating to a “hold” rating and set a $2.00 price objective for the company. in a report on Wednesday, July 15th. Wall Street Zen lowered shares of Evotec from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Evotec in a research report on Tuesday, July 21st. Finally, Berenberg Bank cut shares of Evotec from a “buy” rating to a “hold” rating in a research report on Thursday, July 16th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Evotec currently has an average rating of “Hold” and a consensus target price of $3.00.

Evotec Stock Up 0.5%

The company’s fifty day moving average price is $2.52 and its two-hundred day moving average price is $2.88. The company has a quick ratio of 1.60, a current ratio of 1.68 and a debt-to-equity ratio of 0.43.

Hedge Funds Weigh In On Evotec

Large investors have recently added to or reduced their stakes in the company. ABC Arbitrage SA raised its stake in shares of Evotec by 319.7% in the 4th quarter. ABC Arbitrage SA now owns 554,287 shares of the company’s stock valued at $1,707,000 after purchasing an additional 422,230 shares during the period. Wellington Management Group LLP boosted its position in shares of Evotec by 25.7% during the fourth quarter. Wellington Management Group LLP now owns 1,797,444 shares of the company’s stock worth $5,536,000 after buying an additional 367,545 shares during the period. Optiver Holding B.V. boosted its position in shares of Evotec by 598.4% during the first quarter. Optiver Holding B.V. now owns 283,576 shares of the company’s stock worth $709,000 after buying an additional 242,973 shares during the period. Jane Street Group LLC bought a new position in shares of Evotec during the fourth quarter worth about $565,000. Finally, Millennium Management LLC bought a new position in shares of Evotec during the fourth quarter worth about $317,000. Institutional investors own 5.81% of the company’s stock.

Evotec Company Profile

Evotec SE (NASDAQ:EVO) is a global biotechnology company headquartered in Hamburg, Germany, specializing in drug discovery and development partnerships. The company leverages its integrated discovery platforms to support pharmaceutical and biotech clients in advancing novel therapies from target identification through preclinical development.

Evotec’s service offering encompasses high-throughput screening, bioanalytics, combinatorial chemistry, structural biology, pharmacology, and computational drug design.