Evommune (NYSE:EVMN) Trading Down 7.6% – Here’s Why

Evommune, Inc. (NYSE:EVMN) shares fell 7.6% during mid-day trading on Monday . The company traded as low as $20.24 and last traded at $20.24. 34,067 shares were traded during mid-day trading, a decline of 62% from the average session volume of 89,890 shares. The stock had previously closed at $21.90.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Leerink Partnrs upgraded Evommune to a “strong-buy” rating in a research note on Monday, December 1st. William Blair initiated coverage on shares of Evommune in a research note on Monday, December 1st. They set an “outperform” rating for the company. Wall Street Zen lowered shares of Evommune from a “hold” rating to a “sell” rating in a research note on Saturday. Morgan Stanley began coverage on Evommune in a report on Monday, December 1st. They set an “overweight” rating and a $36.00 price objective for the company. Finally, Zacks Research raised Evommune to a “hold” rating in a report on Tuesday, December 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $39.33.

Evommune Trading Up 10.1%

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.