Evotec (NASDAQ:EVO) Sees Strong Trading Volume – What’s Next?

Evotec AG (NASDAQ:EVO) shares saw an uptick in trading volume on Monday . 110,739 shares changed hands during trading, an increase of 28% from the previous session’s volume of 86,723 shares.The stock last traded at $2.9750 and had previously closed at $3.01.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Royal Bank Of Canada reiterated an “outperform” rating on shares of Evotec in a research note on Wednesday, September 3rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Evotec in a research report on Monday, December 8th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Evotec has an average rating of “Hold” and a consensus price target of $7.00.

Evotec Trading Down 1.8%

The business’s 50 day moving average is $3.46 and its two-hundred day moving average is $3.73. The company has a current ratio of 2.12, a quick ratio of 2.03 and a debt-to-equity ratio of 0.48.

Hedge Funds Weigh In On Evotec

Hedge funds and other institutional investors have recently modified their holdings of the stock. Valeo Financial Advisors LLC acquired a new stake in Evotec during the 2nd quarter worth about $43,000. BNP Paribas Financial Markets raised its position in Evotec by 62.2% during the second quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company’s stock valued at $50,000 after buying an additional 4,600 shares during the period. Bank of America Corp DE lifted its stake in 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. UMB Bank n.a. purchased a new stake in Evotec in the 2nd quarter worth about $56,000. Finally, Thrivent Financial for Lutherans acquired a new stake in Evotec during the 3rd quarter worth about $53,000. 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.