Evotec (NASDAQ:EVO) Stock Price Up 9.4% – Time to Buy?

Evotec SE (NASDAQ:EVO) shot up 9.4% during trading on Tuesday . The company traded as high as $4.88 and last traded at $4.88. 37,466 shares were traded during mid-day trading, a decline of 73% from the average session volume of 139,108 shares. The stock had previously closed at $4.46.

Analyst Ratings Changes

A number of analysts have recently weighed in on EVO shares. Jefferies Financial Group lowered shares of Evotec from a “buy” rating to a “hold” rating and cut their price objective for the stock from $8.70 to $3.80 in a research note on Monday, October 7th. HC Wainwright reiterated a “buy” rating and set a $8.00 price objective on shares of Evotec in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Evotec presently has an average rating of “Hold” and a consensus target price of $5.93.

Evotec Price Performance

The company has a 50 day moving average price of $4.36 and a two-hundred day moving average price of $4.13. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.99 and a current ratio of 2.09.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EVO. Wellington Management Group LLP boosted its stake in Evotec by 29.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,634,434 shares of the company’s stock worth $9,616,000 after purchasing an additional 602,858 shares during the last quarter. Clear Harbor Asset Management LLC acquired a new position in Evotec during the third quarter worth about $104,000. Mediolanum International Funds Ltd purchased a new stake in Evotec during the 3rd quarter valued at about $512,000. Novo Holdings A S acquired a new stake in Evotec in the 2nd quarter valued at about $71,183,000. Finally, DCF Advisers LLC lifted its stake in Evotec by 140.5% in the 2nd quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock worth $552,000 after purchasing an additional 67,156 shares in the last quarter. 5.81% of the stock is owned by hedge funds and other institutional investors.

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.