Evommune (NYSE:EVMN) Shares Down 6.9% – Here’s Why

Evommune, Inc. (NYSE:EVMN) shares traded down 6.9% during trading on Tuesday . The stock traded as low as $17.93 and last traded at $18.23. 43,298 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 317,692 shares. The stock had previously closed at $19.58.

Analyst Ratings Changes

EVMN has been the subject of a number of research reports. The Goldman Sachs Group upgraded Evommune to a “buy” rating in a research note on Wednesday, January 7th. Oppenheimer began coverage on Evommune in a research report on Thursday, January 22nd. They set an “outperform” rating and a $42.00 price objective for the company. William Blair started coverage on Evommune in a research report on Monday, December 1st. They issued an “outperform” rating on the stock. Cantor Fitzgerald started coverage on shares of Evommune in a report on Monday, December 1st. They set an “overweight” rating for the company. Finally, Evercore ISI assumed coverage on shares of Evommune in a report on Monday, December 1st. They issued an “outperform” rating and a $40.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $39.17.

Evommune Trading Down 2.7%

The stock has a market capitalization of $600.53 million and a PE ratio of -2.36. The business has a fifty day moving average of $18.54.

Evommune (NYSE:EVMN) last released its earnings results 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 company had revenue of $10.00 million during the quarter, compared to analysts’ expectations of $10.00 million.

Institutional Trading of Evommune

A hedge fund recently bought a new stake in Evommune stock. Capricorn Fund Managers Ltd purchased a new stake in shares of Evommune, Inc. (NYSE:EVMN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 60,000 shares of the company’s stock, valued at approximately $1,027,000. Capricorn Fund Managers Ltd owned approximately 0.19% of Evommune at the end of the most recent quarter.

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.