Evotec (NASDAQ:EVO) Sees Large Volume Increase – Here’s What Happened

Evotec AG (NASDAQ:EVO) shares saw unusually-high trading volume on Monday . Approximately 102,048 shares were traded during mid-day trading, a decline of 26% from the previous session’s volume of 137,851 shares.The stock last traded at $2.3550 and had previously closed at $2.42.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Berenberg Bank assumed coverage on Evotec in a report on Tuesday, February 3rd. They set a “buy” rating for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Evotec in a report on Monday, December 29th. Finally, Wall Street Zen upgraded Evotec from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Evotec presently has an average rating of “Hold” and an average target price of $7.00.

Evotec Trading Up 2.6%

The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.03 and a current ratio of 2.12. The firm’s 50 day moving average is $3.15 and its 200-day moving average is $3.35.

Hedge Funds Weigh In On Evotec

Large investors have recently added to or reduced their stakes in the business. XTX Topco Ltd increased its position in Evotec by 25.1% during the fourth quarter. XTX Topco Ltd now owns 18,469 shares of the company’s stock worth $57,000 after purchasing an additional 3,709 shares during the last quarter. Wellington Management Group LLP lifted its position in Evotec by 25.7% during the fourth quarter. Wellington Management Group LLP now owns 1,797,444 shares of the company’s stock valued at $5,536,000 after buying an additional 367,545 shares in the last quarter. OLD Mission Capital LLC purchased a new stake in Evotec during the fourth quarter worth approximately $158,000. Millennium Management LLC purchased a new stake in Evotec during the fourth quarter worth approximately $317,000. Finally, Marshall Wace LLP acquired a new stake in shares of Evotec in the fourth quarter worth $40,000. 5.81% of the stock is currently owned by hedge funds and other institutional investors.

Evotec Company Profile

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.