Evommune (NYSE:EVMN) Trading 7.5% Higher – Here’s Why

Evommune, Inc. (NYSE:EVMN)’s stock price was up 7.5% during mid-day trading on Monday . The company traded as high as $23.99 and last traded at $23.6340. Approximately 33,398 shares traded hands during trading, a decline of 95% from the average daily volume of 688,113 shares. The stock had previously closed at $21.99.

Wall Street Analyst Weigh In

EVMN has been the subject of a number of recent research reports. Cantor Fitzgerald started coverage on Evommune in a research note on Monday, December 1st. They issued an “overweight” rating for the company. William Blair initiated coverage on shares of Evommune in a research note on Monday, December 1st. They issued an “outperform” rating on the stock. Wall Street Zen raised shares of Evommune from a “sell” rating to a “hold” rating in a research report on Sunday, December 14th. Evercore restated an “outperform” rating and issued a $55.00 price objective on shares of Evommune in a research report on Tuesday, February 10th. Finally, Zacks Research raised Evommune to a “hold” rating in a research note on Tuesday, December 2nd. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $47.17.

Evommune Stock Up 5.7%

The company has a market cap of $900.00 million and a price-to-earnings ratio of -3.10. The business has a fifty day simple moving average of $23.00.

Evommune (NYSE:EVMN) last announced its 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 Investors Weigh In On Evommune

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

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.