Evommune (NYSE:EVMN) Trading Down 6.9% – Here’s What Happened

Evommune, Inc. (NYSE:EVMN) shares dropped 6.9% during mid-day trading on Thursday . The company traded as low as $14.37 and last traded at $13.9810. 12,789 shares were traded during mid-day trading, a decline of 98% from the average session volume of 630,046 shares. The stock had previously closed at $15.01.

Wall Street Analyst Weigh In

Several analysts recently issued reports on EVMN shares. Wall Street Zen lowered shares of Evommune from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Royal Bank Of Canada dropped their price target on shares of Evommune from $30.00 to $29.00 and set an “outperform” rating on the stock in a research note on Friday, August 7th. William Blair downgraded shares of Evommune from an “outperform” rating to a “market perform” rating in a research report on Monday, June 29th. Stifel Nicolaus initiated coverage on Evommune in a research note on Friday, May 1st. They issued a “buy” rating and a $54.00 price objective for the company. Finally, Raymond James Financial cut Evommune from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, June 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.25.

Evommune Stock Performance

The company’s 50-day moving average price is $15.01 and its 200 day moving average price is $20.91. The stock has a market capitalization of $486.31 million and a P/E ratio of -1.21.

Evommune (NYSE:EVMN) last issued its earnings results on Thursday, August 6th. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.21). Analysts predict that Evommune, Inc. will post -3.16 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Luis C. Pena sold 16,787 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $22.74, for a total transaction of $381,736.38. Following the completion of the sale, the chief executive officer owned 637,896 shares in the company, valued at approximately $14,505,755.04. This trade represents a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jeegar Pravinkumar Patel sold 16,687 shares of Evommune stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $22.74, for a total value of $379,462.38. Following the sale, the insider directly owned 46,403 shares in the company, valued at $1,055,204.22. This trade represents a 26.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 100,854 shares of company stock valued at $2,279,142. Insiders own 31.10% of the company’s stock.

Institutional Investors Weigh In On Evommune

A number of institutional investors have recently added to or reduced their stakes in EVMN. Janus Henderson Group PLC purchased a new position in shares of Evommune in the first quarter worth $20,615,000. Stempoint Capital LP grew its stake in Evommune by 184.1% during the first quarter. Stempoint Capital LP now owns 193,777 shares of the company’s stock valued at $4,385,000 after acquiring an additional 125,581 shares in the last quarter. Perceptive Advisors LLC purchased a new position in Evommune during the first quarter valued at $10,308,000. Sofinnova Investments Inc. bought a new stake in Evommune in the 4th quarter valued at $2,625,000. Finally, Defilade Capital Management L.P. increased its holdings in Evommune by 215.0% in the 1st quarter. Defilade Capital Management L.P. now owns 678,589 shares of the company’s stock valued at $15,601,000 after acquiring an additional 463,171 shares during the last 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.