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

Evotec SE (NASDAQ:EVO) saw unusually-strong trading volume on Wednesday . Approximately 39,935 shares were traded during mid-day trading, a decline of 21% from the previous session’s volume of 50,270 shares.The stock last traded at $4.18 and had previously closed at $4.13.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Jefferies Financial Group lowered Evotec from a “buy” rating to a “hold” rating and cut their price target for the company from $8.70 to $3.80 in a report on Monday, October 7th. HC Wainwright reissued a “buy” rating and issued a $8.00 target price on shares of Evotec in a report on Thursday, November 7th.

Evotec Trading Up 0.4 %

The stock has a fifty day simple moving average of $4.60 and a 200 day simple moving average of $4.08. The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 0.43.

Hedge Funds Weigh In On Evotec

Several institutional investors have recently bought and sold shares of EVO. Wellington Management Group LLP lifted its stake in Evotec by 29.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,634,434 shares of the company’s stock worth $9,616,000 after purchasing an additional 602,858 shares in the last quarter. Clear Harbor Asset Management LLC purchased a new stake in shares of Evotec in the third quarter worth about $104,000. Mediolanum International Funds Ltd purchased a new position in Evotec during the 3rd quarter valued at approximately $512,000. Novo Holdings A S bought a new stake in Evotec in the 2nd quarter worth approximately $71,183,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in Evotec in the 2nd quarter worth approximately $87,000. 5.81% of the stock is 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.