Evotec (NASDAQ:EVO) Sees Strong Trading Volume – Here’s What Happened

Shares of Evotec AG (NASDAQ:EVO) saw an uptick in trading volume on Friday . 94,956 shares were traded during mid-day trading, a decline of 31% from the previous session’s volume of 138,270 shares.The stock last traded at $3.0660 and had previously closed at $3.23.

Analyst Upgrades and Downgrades

Several analysts recently commented on EVO shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Evotec in a research note on Monday, December 29th. Berenberg Bank began coverage on Evotec in a research note on Tuesday, February 3rd. They issued a “buy” rating for the company. Wall Street Zen upgraded Evotec from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Finally, HC Wainwright initiated coverage on Evotec in a research report on Wednesday, April 15th. They set a “buy” rating and a $7.00 price target on the stock. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Evotec has an average rating of “Moderate Buy” and a consensus target price of $7.00.

Evotec Stock Down 2.5%

The company has a current ratio of 2.07, a quick ratio of 1.99 and a debt-to-equity ratio of 0.42. The company’s 50-day moving average price is $2.90 and its 200-day moving average price is $3.26.

Evotec (NASDAQ:EVO) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $0.05 EPS for the quarter. The business had revenue of $297.02 million for the quarter. Evotec had a negative net margin of 13.13% and a negative return on equity of 12.40%. On average, research analysts anticipate that Evotec AG will post -0.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE grew 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. XTX Topco Ltd acquired a new position in Evotec during the 2nd quarter worth approximately $66,000. Marshall Wace LLP acquired a new position in Evotec during the 2nd quarter worth approximately $169,000. BNP Paribas Financial Markets grew its stake in shares of Evotec by 62.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company’s stock worth $50,000 after acquiring an additional 4,600 shares in the last quarter. Finally, Snowden Capital Advisors LLC bought a new position in shares of Evotec during the 2nd quarter worth approximately $122,000. 5.81% of the stock is owned by institutional investors and hedge funds.

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.