Evotec (NASDAQ:EVO) Trading Up 9.4% – What’s Next?

Evotec SE (NASDAQ:EVO) shares shot up 9.4% during trading on Tuesday . The company traded as high as $4.88 and last traded at $4.88. 37,466 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 139,108 shares. The stock had previously closed at $4.46.

Wall Street Analysts Forecast Growth

EVO has been the subject of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 target price on shares of Evotec in a report on Thursday, November 7th. Jefferies Financial Group cut shares of Evotec from a “buy” rating to a “hold” rating and lowered their target price for the company from $8.70 to $3.80 in a research note on Monday, October 7th. One equities research 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. Based on data from MarketBeat.com, Evotec has a consensus rating of “Hold” and an average price target of $5.93.

Evotec Trading Up 13.5 %

The firm’s 50-day moving average is $4.36 and its two-hundred day moving average is $4.13. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.09 and a quick ratio of 1.99.

Institutional Trading of Evotec

A number of hedge funds have recently added to or reduced their stakes in the business. Novo Holdings A S acquired a new stake in Evotec in the second quarter valued at approximately $71,183,000. Wellington Management Group LLP lifted its holdings in shares of Evotec by 29.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,634,434 shares of the company’s stock valued at $9,616,000 after purchasing an additional 602,858 shares during the last quarter. Mediolanum International Funds Ltd acquired a new stake in shares of Evotec in the 3rd quarter worth $512,000. DCF Advisers LLC grew its stake in 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 last quarter. Finally, Clear Harbor Asset Management LLC acquired a new position in Evotec during the 3rd quarter valued at about $104,000. 5.81% of the stock is owned by hedge funds and other institutional investors.

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.