Evotec (NASDAQ:EVO) Sees Strong Trading Volume – Should You Buy?

Shares of Evotec SE (NASDAQ:EVO) saw unusually-strong trading volume on Friday . Approximately 571,431 shares changed hands during mid-day trading, an increase of 348% from the previous session’s volume of 127,496 shares.The stock last traded at $5.51 and had previously closed at $5.10.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $8.00 price target on shares of Evotec in a report on Thursday, November 7th. Morgan Stanley cut shares of Evotec from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $15.00 to $6.00 in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft downgraded Evotec from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Finally, Jefferies Financial Group cut Evotec from a “buy” rating to a “hold” rating and dropped their price target for the company from $8.70 to $3.80 in a report on Monday, October 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $5.93.

Evotec Stock Performance

The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 0.43. The business’s fifty day simple moving average is $3.61 and its 200 day simple moving average is $4.20.

Institutional Trading of Evotec

Hedge funds have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC bought a new position in Evotec in the second quarter valued at about $87,000. Cetera Advisors LLC acquired a new position in Evotec during the 1st quarter valued at about $188,000. Clear Harbor Asset Management LLC bought a new position in shares of Evotec in the 3rd quarter valued at about $104,000. DCF Advisers LLC grew its position in shares of Evotec by 140.5% during the 2nd quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock worth $552,000 after buying an additional 67,156 shares during the period. Finally, Mediolanum International Funds Ltd bought a new stake in shares of Evotec during the third quarter worth approximately $512,000. 5.81% of the stock is owned by 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.