Evotec (NASDAQ:EVO) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Evotec AG (NASDAQ:EVO) saw an uptick in trading volume on Friday . 427,913 shares traded hands during trading, an increase of 234% from the previous session’s volume of 128,220 shares.The stock last traded at $3.5540 and had previously closed at $3.43.

Analyst Upgrades and Downgrades

EVO has been the topic of a number of recent research reports. Berenberg Bank started coverage on shares of Evotec in a research note on Tuesday, February 3rd. They issued a “buy” rating on the stock. Wall Street Zen upgraded shares of Evotec from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Evotec in a research report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $7.00.

Evotec Price Performance

The company has a current ratio of 2.12, a quick ratio of 2.03 and a debt-to-equity ratio of 0.48. The business has a fifty day moving average price of $3.37 and a 200-day moving average price of $3.54.

Hedge Funds Weigh In On Evotec

Several institutional investors and hedge funds have recently modified their holdings of the business. Valeo Financial Advisors LLC acquired a new stake in Evotec in the 2nd quarter worth about $43,000. BNP Paribas Financial Markets increased its holdings in shares of Evotec by 62.2% during the second quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company’s stock worth $50,000 after purchasing an additional 4,600 shares during the period. Bank of America Corp DE raised its position in shares of Evotec by 262.5% in the fourth quarter. Bank of America Corp DE now owns 12,828 shares of the company’s stock valued at $53,000 after buying an additional 9,289 shares in the last quarter. Thrivent Financial for Lutherans bought a new stake in shares of Evotec in the third quarter valued at approximately $53,000. Finally, XTX Topco Ltd acquired a new stake in Evotec during the second quarter worth approximately $66,000. 5.81% of the stock is currently owned by institutional investors and hedge funds.

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.