Evommune (NYSE:EVMN) Stock Rating Lowered by Wall Street Zen

Evommune (NYSE:EVMN) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

EVMN has been the subject of several other reports. Morgan Stanley increased their price target on Evommune from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Clear Str upgraded Evommune to a “strong-buy” rating in a report on Tuesday, March 17th. Stifel Nicolaus started coverage on Evommune in a report on Friday, May 1st. They issued a “buy” rating and a $54.00 price target for the company. Oppenheimer started coverage on Evommune in a report on Tuesday, April 7th. They issued an “outperform” rating and a $50.00 price target for the company. Finally, HC Wainwright restated a “buy” rating and issued a $50.00 price target on shares of Evommune in a report on Tuesday, May 26th. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $49.25.

Evommune Trading Down 4.2%

NYSE:EVMN opened at $19.83 on Friday. Evommune has a 1-year low of $13.89 and a 1-year high of $33.20. The business’s 50-day moving average price is $23.67 and its two-hundred day moving average price is $22.19. The firm has a market capitalization of $714.28 million and a price-to-earnings ratio of -2.09.

Evommune (NYSE:EVMN) last released its earnings results on Thursday, May 7th. The company reported ($0.64) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.19. Sell-side analysts predict that Evommune will post -2.85 earnings per share for the current year.

Insider Buying and Selling at Evommune

In related news, CFO Kyle Carver sold 18,175 shares of the 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 completion of the transaction, the chief financial officer directly owned 59,335 shares in the company, valued at approximately $1,355,211.40. This trade represents a 23.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Luis C. Pena sold 16,787 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $22.74, for a total value of $381,736.38. Following the transaction, the chief executive officer owned 637,896 shares of the company’s stock, valued at approximately $14,505,755.04. The trade was a 2.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 71,928 shares of company stock valued at $1,624,145 in the last 90 days.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of EVMN. Strs Ohio bought a new position in shares of Evommune in the 1st quarter valued at $41,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Evommune in the 4th quarter valued at about $34,000. The Manufacturers Life Insurance Company bought a new stake in shares of Evommune in the 4th quarter valued at about $179,000. XTX Topco Ltd bought a new stake in shares of Evommune in the 4th quarter valued at about $321,000. Finally, Oxford Asset Management LLP bought a new stake in shares of Evommune in the 4th quarter valued at about $335,000.

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.