Evommune (NYSE:EVMN) Hits New 52-Week Low Following Analyst Downgrade

Evommune, Inc. (NYSE:EVMN) hit a new 52-week low during trading on Wednesday after Weiss Ratings downgraded the stock from a sell (d) rating to a sell (d-) rating. The company traded as low as $13.18 and last traded at $13.2790, with a volume of 1754309 shares changing hands. The stock had previously closed at $15.05.

A number of other equities research analysts have also recently issued reports on EVMN. William Blair cut shares of Evommune from an “outperform” rating to a “market perform” rating in a report on Monday. Royal Bank Of Canada reissued an “outperform” rating and set a $48.00 price objective on shares of Evommune in a research report on Friday, April 10th. Clear Str raised Evommune to a “strong-buy” rating in a report on Tuesday, March 17th. Oppenheimer initiated coverage on Evommune in a research report on Tuesday, April 7th. They issued an “outperform” rating and a $50.00 price target on the stock. Finally, Stifel Nicolaus started coverage on Evommune in a report on Friday, May 1st. They set a “buy” rating and a $54.00 price target for the company. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $45.62.

Insider Activity at Evommune

In related news, insider Janice Suzann Drew sold 20,000 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $22.63, for a total value of $452,600.00. Following the sale, the insider owned 67,794 shares of the company’s stock, valued at $1,534,178.22. The trade was a 22.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeegar Pravinkumar Patel sold 1,488 shares of the company’s stock in a transaction 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 sale, the insider owned 46,403 shares in the company, valued at $1,044,067.50. This trade represents a 3.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 100,854 shares of company stock valued at $2,279,142.

Institutional Trading of Evommune

Several hedge funds have recently modified their holdings of EVMN. EQT Fund Management S.a r.l. bought a new position in shares of Evommune in the fourth quarter valued at approximately $84,395,000. RA Capital Management L.P. acquired a new stake in Evommune during the 4th quarter valued at $59,214,000. Pivotal bioVenture Partners Investment Advisor LLC bought a new position in Evommune in the 4th quarter valued at $32,989,000. Nan Fung Group Holdings Ltd bought a new position in Evommune in the 4th quarter valued at $24,670,000. Finally, JPMorgan Chase & Co. acquired a new position in Evommune in the fourth quarter worth $22,408,000.

Evommune Stock Down 11.8%

The firm has a fifty day moving average price of $22.46 and a 200 day moving average price of $22.28. The company has a market cap of $478.31 million and a P/E ratio of -1.40.

Evommune (NYSE:EVMN) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.64) EPS for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.19. On average, sell-side analysts anticipate that Evommune, Inc. will post -2.85 earnings per share for the current year.

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.