Evotec (NASDAQ:EVO) Sees Strong Trading Volume – Time to Buy?

Shares of Evotec SE (NASDAQ:EVO) saw an uptick in trading volume on Wednesday . 45,074 shares changed hands during mid-day trading, a decline of 16% from the previous session’s volume of 53,452 shares.The stock last traded at $3.91 and had previously closed at $3.92.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and set a $8.00 target price on shares of Evotec in a report on Thursday, November 7th.

Evotec Stock Down 0.8 %

The stock has a 50-day moving average price of $4.37 and a 200-day moving average price of $4.09. The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 0.43.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of EVO. Wellington Management Group LLP raised its position 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 during the period. DCF Advisers LLC grew its stake in shares of Evotec by 5.9% during the fourth quarter. DCF Advisers LLC now owns 229,871 shares of the company’s stock valued at $956,000 after buying an additional 12,816 shares during the last quarter. Lighthouse Investment Partners LLC purchased a new position in shares of Evotec in the fourth quarter worth about $166,000. Bank of America Corp DE lifted 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 valued at $53,000 after acquiring an additional 9,289 shares during the last quarter. Finally, CSS LLC IL bought a new stake in shares of Evotec in the 4th quarter valued at about $50,000. 5.81% of the stock is currently owned by 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.