Evommune (NYSE:EVMN) Shares Gap Down Following Analyst Downgrade

Evommune, Inc. (NYSE:EVMN)’s stock price gapped down prior to trading on Monday after William Blair downgraded the stock from an outperform rating to a market perform rating. The stock had previously closed at $25.18, but opened at $17.54. Evommune shares last traded at $16.4650, with a volume of 2,341,724 shares changing hands.

Other equities research analysts have also issued reports about the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $48.00 price target on shares of Evommune in a report on Friday, April 10th. Wall Street Zen lowered shares of Evommune from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Clear Str raised shares of Evommune to a “strong-buy” rating in a research note on Tuesday, March 17th. Stifel Nicolaus assumed coverage on shares of Evommune in a report on Friday, May 1st. They set a “buy” rating and a $54.00 price target for the company. Finally, Morgan Stanley increased their price target on Evommune from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $49.25.

Insider Buying and Selling

In related news, insider Gregory S. Moss sold 14,223 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $22.83, for a total value of $324,711.09. Following the completion of the transaction, the insider owned 60,835 shares in the company, valued at $1,388,863.05. This trade represents a 18.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Luis C. Pena sold 16,787 shares of Evommune stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $22.74, for a total transaction of $381,736.38. Following the sale, the chief executive officer owned 637,896 shares in the company, valued at approximately $14,505,755.04. This represents a 2.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 100,854 shares of company stock valued at $2,279,142 over the last three months.

Institutional Trading of Evommune

Several institutional investors have recently modified their holdings of EVMN. Strs Ohio bought a new position in Evommune during the 1st quarter worth $41,000. China Universal Asset Management Co. Ltd. acquired a new position in Evommune during the 4th quarter worth about $34,000. The Manufacturers Life Insurance Company grew its position in shares of Evommune by 25.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 12,812 shares of the company’s stock valued at $295,000 after buying an additional 2,587 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Evommune in the fourth quarter valued at about $321,000. Finally, Oxford Asset Management LLP acquired a new stake in shares of Evommune in the fourth quarter valued at about $335,000.

Evommune Price Performance

The company has a market capitalization of $625.88 million and a P/E ratio of -1.82. The stock has a 50-day moving average price of $22.98 and a 200-day moving average price of $22.34.

Evommune (NYSE:EVMN) last posted 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. Sell-side analysts anticipate that Evommune, Inc. will post -2.85 EPS for the current fiscal 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.