Evotec (NASDAQ:EVO) Shares Gap Up – Still a Buy?

Evotec AG (NASDAQ:EVO) shares gapped up prior to trading on Wednesday . The stock had previously closed at $2.34, but opened at $2.53. Evotec shares last traded at $2.52, with a volume of 97,783 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EVO. Berenberg Bank initiated coverage on Evotec in a report on Tuesday, February 3rd. They set a “buy” rating for the company. Weiss Ratings restated 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 research note on Saturday, January 10th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $7.00.

Evotec Trading Up 6.8%

The firm’s 50-day moving average price is $3.26 and its two-hundred day moving average price is $3.39. The company has a current ratio of 2.12, a quick ratio of 2.03 and a debt-to-equity ratio of 0.48.

Institutional Investors Weigh In On Evotec

Several large investors have recently made changes to their positions in EVO. XTX Topco Ltd increased its position in shares of Evotec by 25.1% during the 4th quarter. XTX Topco Ltd now owns 18,469 shares of the company’s stock worth $57,000 after purchasing an additional 3,709 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Evotec by 62.2% during the second 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 during the last quarter. Bank of America Corp DE increased its holdings in shares of 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. Valeo Financial Advisors LLC acquired a new stake in shares of Evotec during the second quarter worth approximately $43,000. Finally, Marshall Wace LLP bought a new position in shares of Evotec in the fourth quarter valued at approximately $40,000. Institutional investors own 5.81% of the company’s stock.

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.