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

Shares of Evotec SE (NASDAQ:EVO) saw an uptick in trading volume on Thursday . 38,169 shares traded hands during trading, a decline of 24% from the previous session’s volume of 49,954 shares.The stock last traded at $4.39 and had previously closed at $4.22.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on EVO shares. HC Wainwright reiterated a “buy” rating and issued a $8.00 target price on shares of Evotec in a research note on Thursday, November 7th. Jefferies Financial Group lowered shares of Evotec from a “buy” rating to a “hold” rating and decreased their price objective for the company from $8.70 to $3.80 in a research note on Monday, October 7th.

Evotec Stock Up 7.0 %

The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.99 and a current ratio of 2.09. The firm has a 50-day moving average price of $4.48 and a 200-day moving average price of $4.05.

Institutional Investors Weigh In On Evotec

Hedge funds have recently modified their holdings of the stock. Clear Harbor Asset Management LLC purchased a new stake in Evotec in the third quarter worth $104,000. Mediolanum International Funds Ltd purchased a new stake in Evotec in the 3rd quarter worth about $512,000. Finally, Wellington Management Group LLP raised its stake in Evotec by 29.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,634,434 shares of the company’s stock valued at $9,616,000 after acquiring an additional 602,858 shares during the period. Institutional investors own 5.81% of the company’s stock.

Evotec Company Profile

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.