Evotec (NASDAQ:EVO) Sees Strong Trading Volume – Here’s Why

Shares of Evotec AG (NASDAQ:EVO) saw unusually-high trading volume on Friday . Approximately 94,956 shares were traded during trading, a decline of 31% from the previous session’s volume of 138,270 shares.The stock last traded at $3.0660 and had previously closed at $3.23.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on EVO shares. HC Wainwright initiated coverage on Evotec in a report on Wednesday, April 15th. They issued a “buy” rating and a $7.00 target price on the stock. Berenberg Bank assumed coverage on shares of Evotec in a report on Tuesday, February 3rd. They set a “buy” rating on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Evotec in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Evotec from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $7.00.

Evotec Stock Down 2.5%

The company has a fifty day moving average of $2.91 and a 200-day moving average of $3.27. The company has a current ratio of 2.07, a quick ratio of 1.99 and a debt-to-equity ratio of 0.42.

Evotec (NASDAQ:EVO) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.05 earnings per share for the quarter. The business had revenue of $297.02 million for the quarter. Evotec had a negative return on equity of 12.40% and a negative net margin of 13.13%. On average, equities analysts anticipate that Evotec AG will post -0.59 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Apollon Wealth Management LLC bought a new stake in Evotec in the 1st quarter worth about $28,000. BNP Paribas Financial Markets lifted its position in shares of Evotec by 62.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company’s stock worth $50,000 after buying an additional 4,600 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of 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 buying an additional 9,289 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Evotec in the 4th quarter worth approximately $40,000. Finally, Thrivent Financial for Lutherans bought a new position in shares of Evotec in the third quarter valued at approximately $53,000. 5.81% of the stock is currently owned by hedge funds and other institutional investors.

About Evotec

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.