Evotec (NASDAQ:EVO) Sees Strong Trading Volume – Still a Buy?

Evotec AG (NASDAQ:EVO) shares saw unusually-high trading volume on Tuesday. Approximately 119,527 shares changed hands during mid-day trading, an increase of 17% from the previous session’s volume of 102,028 shares. The stock last traded at $1.6350 and had previously closed at $1.66.

Analysts Set New Price Targets

A number of brokerages have recently commented on EVO. TD Cowen cut shares of Evotec from a “buy” rating to a “hold” rating and set a $2.00 target price on the stock. in a report on Wednesday, July 15th. Weiss Ratings cut shares of Evotec from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 25th. Berenberg Bank lowered Evotec from a “buy” rating to a “hold” rating in a report on Thursday, July 16th. Finally, HC Wainwright dropped their price target on Evotec from $7.00 to $4.00 and set a “buy” rating on the stock in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $3.00.

Evotec Price Performance

The company’s 50 day simple moving average is $1.83 and its 200 day simple moving average is $2.41. The company has a quick ratio of 2.21, a current ratio of 2.33 and a debt-to-equity ratio of 0.62.

Hedge Funds Weigh In On Evotec

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Optiver Holding B.V. boosted its stake in shares of Evotec by 598.4% in the first quarter. Optiver Holding B.V. now owns 283,576 shares of the company’s stock valued at $709,000 after purchasing an additional 242,973 shares during the period. WCM Investment Management LLC grew its holdings in Evotec by 12.1% during the 1st quarter. WCM Investment Management LLC now owns 627,260 shares of the company’s stock valued at $1,480,000 after purchasing an additional 67,917 shares in the last quarter. Apollon Wealth Management LLC purchased a new stake in Evotec during the 1st quarter worth $28,000. Finally, SmartHarvest Portfolios LLC purchased a new stake in Evotec during the 1st quarter worth $44,000. 5.81% of the stock is owned by institutional investors and hedge funds.

Evotec Company Profile

Evotec SE is a life sciences company headquartered in Hamburg, Germany, that provides drug discovery and development services to pharmaceutical, biotechnology and academic partners. Founded in 1993, the company supports programs from early-stage research through preclinical and clinical development, with expertise in small-molecule and biologic therapies.

Its activities include target identification and validation, screening, medicinal chemistry, pharmacology, drug manufacturing support and development services.