Evotec (NASDAQ:EVO) Shares Up 9.4% – Time to Buy?

Shares of Evotec SE (NASDAQ:EVO) rose 9.4% during trading on Tuesday . The company traded as high as $4.88 and last traded at $4.88. Approximately 37,466 shares changed hands during trading, a decline of 73% from the average daily volume of 139,108 shares. The stock had previously closed at $4.46.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on EVO. HC Wainwright reiterated a “buy” rating and issued a $8.00 target price on shares of Evotec in a report on Thursday, November 7th. Jefferies Financial Group downgraded Evotec from a “buy” rating to a “hold” rating and cut their price objective for the stock from $8.70 to $3.80 in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $5.93.

Evotec Trading Up 12.1 %

The company’s fifty day moving average is $4.40 and its two-hundred day moving average is $4.13. 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 Investors Weigh In On Evotec

Several institutional investors and hedge funds have recently modified their holdings of EVO. Vanguard Personalized Indexing Management LLC acquired a new position in Evotec during the 2nd quarter worth approximately $87,000. Clear Harbor Asset Management LLC purchased a new stake in shares of Evotec during the third quarter valued at approximately $104,000. DCF Advisers LLC lifted its position in shares of Evotec by 140.5% during the second quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock worth $552,000 after purchasing an additional 67,156 shares in the last quarter. Mediolanum International Funds Ltd purchased a new position in shares of Evotec in the third quarter valued at $512,000. Finally, Wellington Management Group LLP grew its holdings in Evotec by 29.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,634,434 shares of the company’s stock valued at $9,616,000 after purchasing an additional 602,858 shares in the last quarter. Hedge funds and other institutional investors own 5.81% of the company’s stock.

About Evotec

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.