Evommune (NYSE:EVMN) Trading Down 10.2% – Time to Sell?

Evommune, Inc. (NYSE:EVMN) dropped 10.2% during trading on Thursday . The stock traded as low as $26.00 and last traded at $26.81. Approximately 264,453 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 822,209 shares. The stock had previously closed at $29.86.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. The Goldman Sachs Group upgraded Evommune to a “buy” rating in a research note on Wednesday, January 7th. Cantor Fitzgerald initiated coverage on shares of Evommune in a research report on Monday, December 1st. They issued an “overweight” rating for the company. Wall Street Zen raised shares of Evommune from a “sell” rating to a “hold” rating in a research note on Sunday, December 14th. HC Wainwright lifted their target price on shares of Evommune from $35.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Finally, Evercore reaffirmed an “outperform” rating and issued a $55.00 target price on shares of Evommune in a report on Tuesday, February 10th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $49.67.

Evommune Price Performance

The company has a fifty day moving average price of $20.90. The stock has a market capitalization of $845.05 million and a PE ratio of -3.32.

Evommune (NYSE:EVMN) last released its quarterly earnings data on Thursday, December 11th. The company reported ($8.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($6.58) by ($1.49). The business had revenue of $10.00 million during the quarter, compared to analyst estimates of $10.00 million.

Institutional Investors Weigh In On Evommune

Large investors have recently added to or reduced their stakes in the stock. Capricorn Fund Managers Ltd bought a new stake in shares of Evommune in the 4th quarter valued at approximately $1,027,000. China Universal Asset Management Co. Ltd. purchased a new stake in Evommune during the 4th quarter valued at $34,000. Sectoral Asset Management Inc. bought a new stake in Evommune in the fourth quarter worth $10,084,000. Geode Capital Management LLC purchased a new position in Evommune during the fourth quarter worth $1,881,000. Finally, Seven Grand Managers LLC bought a new position in Evommune during the fourth quarter valued at $1,284,000.

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.