EQT Fund Management S.a r.l. Buys Shares of 4,929,633 Evommune, Inc. $EVMN

EQT Fund Management S.a r.l. bought a new stake in shares of Evommune, Inc. (NYSE:EVMN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,929,633 shares of the company’s stock, valued at approximately $84,395,000. Evommune accounts for 7.6% of EQT Fund Management S.a r.l.’s portfolio, making the stock its 4th largest holding. EQT Fund Management S.a r.l. owned approximately 15.64% of Evommune as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. JPMorgan Chase & Co. bought a new position in Evommune during the 4th quarter valued at about $22,408,000. Sectoral Asset Management Inc. bought a new position in Evommune during the 4th quarter valued at about $10,084,000. Geode Capital Management LLC bought a new position in Evommune during the 4th quarter valued at about $1,881,000. Seven Grand Managers LLC bought a new position in shares of Evommune in the 4th quarter worth approximately $1,284,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of Evommune in the 4th quarter worth approximately $1,056,000.

Evommune Price Performance

Shares of EVMN opened at $20.47 on Thursday. Evommune, Inc. has a 1 year low of $13.89 and a 1 year high of $33.20. The company has a 50 day simple moving average of $23.77 and a two-hundred day simple moving average of $22.19. The firm has a market cap of $737.26 million and a P/E ratio of -2.15.

Evommune (NYSE:EVMN) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.64) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.19. On average, sell-side analysts anticipate that Evommune, Inc. will post -2.86 earnings per share for the current year.

Insider Buying and Selling at Evommune

In other Evommune news, CEO Luis C. Pena sold 16,787 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 637,896 shares of the company’s stock, valued at $14,505,755.04. This trade represents a 2.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David E. Cohen sold 6,056 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $20.33, for a total transaction of $123,118.48. Following the sale, the director directly owned 17,609 shares of the company’s stock, valued at approximately $357,990.97. This trade represents a 25.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 71,928 shares of company stock worth $1,624,145.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on EVMN. HC Wainwright reiterated a “buy” rating and issued a $50.00 price objective on shares of Evommune in a research note on Tuesday, May 26th. Oppenheimer began coverage on shares of Evommune in a research note on Tuesday, April 7th. They issued an “outperform” rating and a $50.00 price objective on the stock. Morgan Stanley increased their price objective on shares of Evommune from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Wall Street Zen upgraded shares of Evommune from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $48.00 price objective on shares of Evommune in a research note on Friday, April 10th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Evommune has an average rating of “Buy” and a consensus target price of $49.25.

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.