Eventide Asset Management LLC purchased a new stake in Evommune, Inc. (NYSE:EVMN – Free Report) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 961,525 shares of the company’s stock, valued at approximately $16,461,000.
Several other hedge funds also recently added to or reduced their stakes in EVMN. China Universal Asset Management Co. Ltd. purchased a new stake in Evommune in the fourth quarter valued at $34,000. The Manufacturers Life Insurance Company purchased a new stake in Evommune in the fourth quarter valued at $179,000. State Street Corp purchased a new stake in Evommune in the fourth quarter valued at $539,000. TD Asset Management Inc purchased a new stake in Evommune in the fourth quarter valued at $764,000. Finally, Capricorn Fund Managers Ltd purchased a new stake in Evommune in the fourth quarter valued at $1,027,000.
Insider Activity
In related news, insider Gregory S. Moss sold 14,223 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $22.83, for a total transaction of $324,711.09. Following the completion of the transaction, the insider owned 60,835 shares in the company, valued at $1,388,863.05. This represents a 18.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kyle Carver sold 18,175 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $22.84, for a total transaction of $415,117.00. Following the transaction, the chief financial officer owned 59,335 shares of the company’s stock, valued at approximately $1,355,211.40. This trade represents a 23.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 71,928 shares of company stock worth $1,624,145.
Evommune Stock Performance
Evommune (NYSE:EVMN – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.64) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.19. Equities research analysts forecast that Evommune, Inc. will post -2.85 EPS for the current year.
Wall Street Analyst Weigh In
Several equities research analysts have commented on EVMN shares. Clear Str raised shares of Evommune to a “strong-buy” rating in a report on Tuesday, March 17th. HC Wainwright reiterated a “buy” rating and issued a $50.00 price objective on shares of Evommune in a research report on Tuesday, May 26th. Stifel Nicolaus initiated coverage on shares of Evommune in a research report on Friday, May 1st. They issued a “buy” rating and a $54.00 price objective for the company. Oppenheimer initiated coverage on shares of Evommune in a research report on Tuesday, April 7th. They issued an “outperform” rating and a $50.00 price objective for the company. Finally, Morgan Stanley upped their price objective on shares of Evommune from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Evommune has an average rating of “Buy” and a consensus price target of $49.25.
Get Our Latest Analysis on EVMN
Evommune Profile
Evommune is a clinical-stage biotechnology company developing innovative therapies that target key drivers of chronic inflammatory diseases, with initial clinical development programs focusing on chronic spontaneous urticaria (“CSU”), atopic dermatitis (“AD”) and ulcerative colitis (“UC”). Chronic inflammation is a significant healthcare problem in the world, substantially impacting patients’ quality of life and leading to life-threatening conditions. These conditions, if not prevented, ultimately lead to fatal diseases, such as cardiovascular diseases, diabetes and cancer, which contribute to three out of every five deaths worldwide and result in an estimated $90 billion of annual cost to the healthcare system in the United States.
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