Octagon Capital Advisors LP decreased its holdings in shares of Evommune, Inc. (NYSE:EVMN – Free Report) by 71.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 143,472 shares of the company’s stock after selling 356,528 shares during the quarter. Evommune accounts for approximately 0.4% of Octagon Capital Advisors LP’s holdings, making the stock its 28th biggest position. Octagon Capital Advisors LP owned approximately 0.40% of Evommune worth $3,298,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the business. Strs Ohio acquired a new stake in Evommune during the 1st quarter worth about $41,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Evommune in the 4th quarter valued at about $34,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Evommune in the fourth quarter worth approximately $179,000. XTX Topco Ltd acquired a new stake in shares of Evommune during the fourth quarter worth approximately $321,000. Finally, Oxford Asset Management LLP acquired a new stake in shares of Evommune during the fourth quarter worth approximately $335,000.
Evommune Price Performance
Shares of EVMN opened at $11.36 on Monday. The firm has a market cap of $409.16 million and a price-to-earnings ratio of -1.20. The company’s fifty day moving average is $18.11 and its 200-day moving average is $21.66. Evommune, Inc. has a 12 month low of $10.47 and a 12 month high of $33.20.
Insider Activity at Evommune
In other news, insider Janice Suzann Drew sold 20,000 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $22.63, for a total transaction of $452,600.00. Following the completion of the sale, the insider owned 67,794 shares in the company, valued at approximately $1,534,178.22. This represents a 22.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeegar Pravinkumar Patel sold 1,488 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $22.50, for a total value of $33,480.00. Following the completion of the transaction, the insider directly owned 46,403 shares in the company, valued at $1,044,067.50. The trade was a 3.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 100,854 shares of company stock worth $2,279,142 in the last 90 days. Insiders own 31.10% of the company’s stock.
Analyst Ratings Changes
Several research analysts have weighed in on the stock. Weiss Ratings lowered shares of Evommune from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, June 29th. Royal Bank Of Canada restated an “outperform” rating and set a $48.00 price target on shares of Evommune in a report on Friday, April 10th. Morgan Stanley dropped their price target on shares of Evommune from $55.00 to $26.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 30th. Oppenheimer assumed coverage on Evommune in a report on Tuesday, April 7th. They set an “outperform” rating and a $50.00 price objective for the company. Finally, Raymond James Financial cut Evommune from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, June 29th. Two equities research 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.62.
Get Our Latest Stock 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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