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

Shares of Evotec AG (NASDAQ:EVO) saw an uptick in trading volume on Monday . 110,739 shares traded hands during mid-day 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.

Wall Street Analysts Forecast Growth

EVO has been the subject of a number of recent research reports. Royal Bank Of Canada reiterated an “outperform” rating on shares of Evotec in a research note on Wednesday, September 3rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Evotec in a research report on Monday, December 8th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.00.

Evotec Price Performance

The company’s 50 day moving average is $3.49 and its two-hundred day moving average is $3.74. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.03 and a current ratio of 2.12.

Institutional Investors Weigh In On Evotec

A number of hedge funds have recently made changes to their positions in the company. Valeo Financial Advisors LLC purchased a new stake in shares of Evotec during the 2nd quarter worth approximately $43,000. DCF Advisers LLC increased its position in Evotec by 48.3% in the second quarter. DCF Advisers LLC now owns 1,114,493 shares of the company’s stock worth $4,681,000 after purchasing an additional 362,914 shares during the last quarter. WCM Investment Management LLC purchased a new stake in Evotec during the second quarter valued at $1,239,000. Envestnet Asset Management Inc. bought a new position in Evotec during the second quarter valued at $385,000. Finally, UMB Bank n.a. purchased a new position in shares of Evotec in the 2nd quarter worth $56,000. 5.81% of the stock is currently 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.