Evommune (NYSE:EVMN) Downgraded by William Blair to Market Perform

Evommune (NYSE:EVMN) was downgraded by analysts at William Blair from an “outperform” rating to a “market perform” rating in a report released on Monday, MarketBeat Ratings reports.

A number of other equities analysts have also recently commented on the stock. Clear Str raised shares of Evommune to a “strong-buy” rating in a research note on Tuesday, March 17th. HC Wainwright reiterated a “buy” rating and issued a $50.00 price objective on shares of Evommune in a report on Tuesday, May 26th. Royal Bank Of Canada restated an “outperform” rating and issued a $48.00 target price on shares of Evommune in a research report on Friday, April 10th. Oppenheimer started coverage on Evommune in a research note on Tuesday, April 7th. They issued an “outperform” rating and a $50.00 target price for the company. Finally, Stifel Nicolaus assumed coverage on shares of Evommune in a research report on Friday, May 1st. They set a “buy” rating and a $54.00 price target on the stock. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.25.

Evommune Trading Down 34.7%

Shares of Evommune stock traded down $8.74 during trading on Monday, hitting $16.44. The stock had a trading volume of 1,491,977 shares, compared to its average volume of 530,346. Evommune has a 12 month low of $13.89 and a 12 month high of $33.20. The business’s 50-day moving average is $22.98 and its 200 day moving average is $22.34. The firm has a market cap of $591.99 million and a price-to-earnings ratio of -1.77.

Evommune (NYSE:EVMN) last announced its earnings results on Thursday, May 7th. The company reported ($0.64) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.19. As a group, equities analysts expect that Evommune will post -2.85 EPS for the current year.

Insiders Place Their Bets

In other news, insider Gregory S. Moss sold 14,223 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $22.83, for a total transaction of $324,711.09. Following the completion of the transaction, the insider directly owned 60,835 shares of the company’s stock, valued at approximately $1,388,863.05. This represents a 18.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kyle Carver sold 18,175 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $22.84, for a total value of $415,117.00. Following the completion of the sale, the chief financial officer directly owned 59,335 shares in the company, valued at $1,355,211.40. The trade was a 23.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 100,854 shares of company stock worth $2,279,142.

Institutional Trading of Evommune

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

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.