Evommune (NYSE:EVMN) Trading Down 6.7% – Here’s What Happened

Evommune, Inc. (NYSE:EVMN) was down 6.7% during mid-day trading on Monday . The stock traded as low as $24.68 and last traded at $24.72. Approximately 99,509 shares traded hands during trading, a decline of 87% from the average daily volume of 739,871 shares. The stock had previously closed at $26.50.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on EVMN shares. William Blair started coverage on Evommune in a report on Monday, December 1st. They set an “outperform” rating on the stock. Oppenheimer assumed coverage on Evommune in a research note on Thursday, January 22nd. They issued an “outperform” rating and a $42.00 target price for the company. The Goldman Sachs Group upgraded shares of Evommune to a “buy” rating in a research report on Wednesday, January 7th. Raymond James Financial initiated coverage on shares of Evommune in a report on Wednesday, January 7th. They issued a “strong-buy” rating and a $40.00 target price on the stock. Finally, HC Wainwright raised their price target on shares of Evommune from $35.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.67.

Evommune Stock Down 9.2%

The stock’s fifty day moving average price is $22.05. The company has a market cap of $867.15 million and a PE ratio of -2.98.

Evommune (NYSE:EVMN) last announced its quarterly earnings results on Thursday, March 5th. The company reported ($1.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.61).

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new position in shares of Evommune during the fourth quarter worth $321,000. Tudor Investment Corp ET AL acquired a new position in Evommune during the 4th quarter worth about $547,000. Sphera Funds Management LTD. purchased a new position in Evommune during the 4th quarter valued at about $2,844,000. RTW Investments LP acquired a new position in Evommune in the 4th quarter valued at about $21,976,000. Finally, Oxford Asset Management LLP acquired a new position in Evommune in the 4th quarter valued at about $335,000.

Evommune Company 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.