Evotec (NASDAQ:EVO) Sees Large Volume Increase – Time to Buy?

Shares of Evotec AG (NASDAQ:EVO) saw strong trading volume on Monday . 315,777 shares changed hands during mid-day trading, an increase of 221% from the previous session’s volume of 98,247 shares.The stock last traded at $3.0050 and had previously closed at $2.95.

Wall Street Analyst Weigh In

Several research analysts have weighed in on EVO shares. Royal Bank Of Canada reiterated an “outperform” rating on shares of Evotec in a research report on Wednesday, September 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Evotec in a report on Monday. Finally, Wall Street Zen raised Evotec to a “sell” rating in a report on Saturday. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.00.

Evotec Trading Down 2.7%

The company has a debt-to-equity ratio of 0.48, a current ratio of 2.12 and a quick ratio of 2.03. The company has a 50-day moving average price of $3.36 and a 200 day moving average price of $3.69.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Valeo Financial Advisors LLC purchased a new position in shares of Evotec in the second quarter worth $43,000. BNP Paribas Financial Markets grew its stake in Evotec by 62.2% during the second quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company’s stock valued at $50,000 after acquiring an additional 4,600 shares in the last quarter. Bank of America Corp DE increased its holdings in Evotec by 262.5% in the 4th quarter. Bank of America Corp DE now owns 12,828 shares of the company’s stock valued at $53,000 after acquiring an additional 9,289 shares during the last quarter. Thrivent Financial for Lutherans purchased a new stake in Evotec in the 3rd quarter worth $53,000. Finally, UMB Bank n.a. bought a new position in shares of Evotec during the 2nd quarter valued at about $56,000. 5.81% of the stock is currently owned by institutional investors.

About Evotec

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.