Evotec (NASDAQ:EVO) Shares Gap Up – Time to Buy?

Evotec AG (NASDAQ:EVO) shares gapped up prior to trading on Wednesday . The stock had previously closed at $2.34, but opened at $2.53. Evotec shares last traded at $2.52, with a volume of 97,783 shares changing hands.

Wall Street Analysts Forecast Growth

EVO has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Evotec from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Evotec in a research report on Monday, December 29th. Finally, Berenberg Bank began coverage on shares of Evotec in a research note on Tuesday, February 3rd. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Evotec has an average rating of “Hold” and a consensus target price of $7.00.

Evotec Price Performance

The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.03 and a current ratio of 2.12. The company has a fifty day moving average price of $3.22 and a 200-day moving average price of $3.38.

Institutional Trading of Evotec

A number of institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its position in Evotec by 262.5% in the fourth 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. Envestnet Asset Management Inc. bought a new position in shares of Evotec during the 2nd quarter valued at $385,000. XTX Topco Ltd bought a new position in shares of Evotec during the 2nd quarter valued at $66,000. Marshall Wace LLP acquired a new stake in shares of Evotec in the 2nd quarter valued at $169,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of Evotec by 62.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company’s stock valued at $50,000 after purchasing an additional 4,600 shares during the last quarter. 5.81% of the stock is currently owned by institutional investors and hedge funds.

Evotec Company Profile

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.