Eventide Asset Management LLC Acquires New Holdings in Evommune, Inc. $EVMN

Eventide Asset Management LLC acquired a new stake in shares of Evommune, Inc. (NYSE:EVMN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 961,525 shares of the company’s stock, valued at approximately $16,461,000. Eventide Asset Management LLC owned 3.05% of Evommune as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. purchased a new position in Evommune during the fourth quarter valued at approximately $34,000. The Manufacturers Life Insurance Company purchased a new position in Evommune in the fourth quarter worth $179,000. State Street Corp purchased a new position in Evommune in the fourth quarter worth $539,000. TD Asset Management Inc purchased a new position in Evommune in the fourth quarter worth $764,000. Finally, Capricorn Fund Managers Ltd purchased a new position in Evommune in the fourth quarter worth $1,027,000.

Analyst Ratings Changes

Several research firms have issued reports on EVMN. Stifel Nicolaus began coverage on shares of Evommune in a report on Friday, May 1st. They issued a “buy” rating and a $54.00 price target on the stock. Oppenheimer began coverage on shares of Evommune in a report on Tuesday, April 7th. They issued an “outperform” rating and a $50.00 price target on the stock. Wall Street Zen lowered shares of Evommune from a “hold” rating to a “sell” rating in a report on Saturday. Clear Str raised shares of Evommune to a “strong-buy” rating in a report on Tuesday, March 17th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $48.00 price target on shares of Evommune in a report on Friday, April 10th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Evommune currently has an average rating of “Buy” and an average target price of $49.25.

Evommune Price Performance

Shares of EVMN opened at $19.83 on Monday. The firm has a market capitalization of $714.28 million and a PE ratio of -2.09. Evommune, Inc. has a 1-year low of $13.89 and a 1-year high of $33.20. The company’s fifty day moving average price is $23.67 and its 200-day moving average price is $22.21.

Evommune (NYSE:EVMN) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.64) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.19. As a group, research analysts anticipate that Evommune, Inc. will post -2.85 EPS for the current fiscal year.

Insider Activity

In other news, CEO Luis C. Pena sold 16,787 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $22.74, for a total transaction of $381,736.38. Following the sale, the chief executive officer directly owned 637,896 shares of the company’s stock, valued at $14,505,755.04. The trade was a 2.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gregory S. Moss sold 14,223 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $22.83, for a total transaction of $324,711.09. Following the sale, the insider directly owned 60,835 shares in the company, valued at $1,388,863.05. This trade represents a 18.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 71,928 shares of company stock valued at $1,624,145.

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.