Evommune (NYSE:EVMN – Get Free Report) released its earnings results on Thursday. The company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.21), FiscalAI reports.
Evommune Stock Performance
Shares of Evommune stock traded up $0.76 on Friday, hitting $14.14. The company’s stock had a trading volume of 373,991 shares, compared to its average volume of 602,262. The company has a market capitalization of $509.15 million and a price-to-earnings ratio of -1.28. Evommune has a 1 year low of $10.47 and a 1 year high of $33.20. The firm has a fifty day moving average price of $16.00 and a 200-day moving average price of $21.16.
Wall Street Analyst Weigh In
Several analysts have recently commented on the stock. Stifel Nicolaus initiated coverage on shares of Evommune in a report on Friday, May 1st. They issued a “buy” rating and a $54.00 price objective on the stock. HC Wainwright restated a “neutral” rating on shares of Evommune in a research report on Monday, August 3rd. William Blair downgraded Evommune from an “outperform” rating to a “market perform” rating in a research report on Monday, June 29th. Royal Bank Of Canada decreased their price objective on Evommune from $30.00 to $29.00 and set an “outperform” rating for the company in a report on Friday. Finally, Morgan Stanley lowered their target price on Evommune from $55.00 to $26.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Evommune currently has an average rating of “Moderate Buy” and an average price target of $43.25.
Insider Buying and Selling
In related news, Director Arthur S. Kirsch purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The shares were purchased at an average price of $13.30 per share, with a total value of $133,000.00. Following the purchase, the director owned 10,000 shares of the company’s stock, valued at $133,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Luis C. Pena sold 7,438 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $22.71, for a total transaction of $168,916.98. Following the completion of the sale, the chief executive officer directly owned 630,458 shares of the company’s stock, valued at approximately $14,317,701.18. The trade was a 1.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 100,854 shares of company stock valued at $2,279,142 in the last 90 days. Corporate insiders own 31.10% of the company’s stock.
Institutional Trading of Evommune
Several institutional investors have recently modified their holdings of the stock. EQT Fund Management S.a r.l. acquired a new position in shares of Evommune during the 4th quarter worth about $84,395,000. RA Capital Management L.P. acquired a new position in shares of Evommune during the fourth quarter valued at approximately $59,214,000. Pivotal bioVenture Partners Investment Advisor LLC purchased a new position in shares of Evommune in the fourth quarter valued at approximately $32,989,000. Nan Fung Group Holdings Ltd acquired a new stake in shares of Evommune in the fourth quarter worth approximately $24,670,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Evommune during the fourth quarter worth approximately $22,408,000.
About Evommune
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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