Evotec (NASDAQ:EVO) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Evotec SE (NASDAQ:EVO) saw unusually-high trading volume on Wednesday . Approximately 45,074 shares traded hands during 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 Analysts Forecast Growth

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

Evotec Trading Down 0.8 %

The stock’s 50-day simple moving average is $4.37 and its 200-day simple moving average is $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.

Hedge Funds Weigh In On Evotec

Several large investors have recently modified their holdings of EVO. BNP Paribas Financial Markets bought a new stake in Evotec during the fourth quarter valued at $27,000. CSS LLC IL acquired a new position in Evotec during the 4th quarter valued at about $50,000. Bank of America Corp DE grew its holdings in Evotec by 262.5% during the fourth 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 in the last quarter. Lighthouse Investment Partners LLC bought a new stake in shares of Evotec in the 4th quarter worth $166,000. Finally, DCF Advisers LLC lifted its position in shares of Evotec by 5.9% during the 4th quarter. DCF Advisers LLC now owns 229,871 shares of the company’s stock worth $956,000 after buying an additional 12,816 shares in the last quarter. Institutional investors own 5.81% of the company’s stock.

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.