Insider Buying: Evommune (NYSE:EVMN) CFO Buys $13,260.00 in Stock

Evommune, Inc. (NYSE:EVMN) CFO Kyle Carver purchased 1,000 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The shares were bought at an average cost of $13.26 per share, with a total value of $13,260.00. Following the transaction, the chief financial officer directly owned 60,335 shares of the company’s stock, valued at approximately $800,042.10. This represents a 1.69% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Kyle Carver also recently made the following trade(s):

• On Thursday, May 28th, Kyle Carver sold 18,175 shares of Evommune stock. The stock was sold at an average price of $22.84, for a total transaction of $415,117.00.

Evommune Stock Performance

EVMN opened at $13.23 on Monday. The company has a market capitalization of $476.40 million and a P/E ratio of -1.39. The company has a 50-day moving average of $20.37 and a 200-day moving average of $22.04. Evommune, Inc. has a 1-year low of $12.07 and a 1-year high of $33.20.

Evommune (NYSE:EVMN) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.64) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.19. As a group, sell-side analysts expect that Evommune, Inc. will post -2.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Defilade Capital Management L.P. grew its stake in Evommune by 215.0% during the 1st quarter. Defilade Capital Management L.P. now owns 678,589 shares of the company’s stock worth $15,601,000 after buying an additional 463,171 shares during the last quarter. Perceptive Advisors LLC bought a new stake in Evommune in the first quarter valued at $10,308,000. Bank of America Corp DE boosted its holdings in shares of Evommune by 928.3% during the first quarter. Bank of America Corp DE now owns 30,201 shares of the company’s stock valued at $694,000 after acquiring an additional 27,264 shares during the period. Stempoint Capital LP grew its position in shares of Evommune by 184.1% during the first quarter. Stempoint Capital LP now owns 193,777 shares of the company’s stock worth $4,385,000 after acquiring an additional 125,581 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new position in shares of Evommune during the first quarter worth about $20,615,000.

Analyst Ratings Changes

A number of brokerages have recently weighed in on EVMN. Wall Street Zen downgraded Evommune from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. HC Wainwright downgraded shares of Evommune from a “buy” rating to a “neutral” rating in a report on Tuesday, June 30th. Royal Bank Of Canada reiterated an “outperform” rating and set a $48.00 target price on shares of Evommune in a research note on Friday, April 10th. Weiss Ratings downgraded shares of Evommune from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, June 29th. Finally, Morgan Stanley decreased their price target on shares of Evommune from $55.00 to $26.00 and set an “overweight” rating for the company in a report on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $45.62.

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.