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

Evotec SE (NASDAQ:EVO) saw strong trading volume on Thursday . 38,169 shares changed hands during mid-day 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.

Analyst Ratings Changes

A number of research firms recently commented on EVO. HC Wainwright reaffirmed a “buy” rating and set a $8.00 price objective on shares of Evotec in a research note on Thursday, November 7th. Jefferies Financial Group cut shares of Evotec from a “buy” rating to a “hold” rating and decreased their price target for the stock from $8.70 to $3.80 in a research note on Monday, October 7th.

Evotec Stock Up 0.7 %

The stock has a 50-day moving average price of $4.47 and a 200 day moving average price of $4.05. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.09 and a quick ratio of 1.99.

Hedge Funds Weigh In On Evotec

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mediolanum International Funds Ltd acquired a new position in shares of Evotec in the 3rd quarter valued at $512,000. Clear Harbor Asset Management LLC acquired a new position in Evotec in the third quarter valued at $104,000. Finally, Wellington Management Group LLP grew its position in Evotec by 29.7% during the third 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 and hedge funds 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.