Evotec (NASDAQ:EVO) Sees Strong Trading Volume – Time to Buy?

Evotec AG (NASDAQ:EVO) shares saw strong trading volume on Monday . 315,777 shares were traded during 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.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on EVO shares. Wall Street Zen raised shares of Evotec to a “sell” rating in a research report on Saturday. Royal Bank Of Canada reissued an “outperform” rating on shares of Evotec in a report on Wednesday, September 3rd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Evotec in a research note on Monday, December 8th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Evotec currently has a consensus rating of “Hold” and an average target price of $7.00.

Evotec Stock Up 2.0%

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 business’s 50-day moving average price is $3.40 and its two-hundred day moving average price is $3.70.

Institutional Investors Weigh In On Evotec

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

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.