NEXTBio Capital Management LP Takes Position in Evommune, Inc. $EVMN

NEXTBio Capital Management LP acquired a new position in shares of Evommune, Inc. (NYSE:EVMN) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 228,286 shares of the company’s stock, valued at approximately $3,908,000. Evommune makes up about 2.3% of NEXTBio Capital Management LP’s investment portfolio, making the stock its 17th largest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. China Universal Asset Management Co. Ltd. bought a new stake in shares of Evommune during the 4th quarter worth $34,000. The Manufacturers Life Insurance Company bought a new stake in shares of Evommune during the 4th quarter worth $179,000. State Street Corp bought a new stake in shares of Evommune during the 4th quarter worth $539,000. TD Asset Management Inc bought a new stake in shares of Evommune during the 4th quarter worth $764,000. Finally, Capricorn Fund Managers Ltd bought a new stake in shares of Evommune during the 4th quarter worth $1,027,000.

Insider Activity

In related news, insider Gregory S. Moss sold 14,223 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $22.83, for a total value of $324,711.09. Following the completion of the sale, the insider directly owned 60,835 shares in the company, valued at $1,388,863.05. This represents a 18.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeegar Pravinkumar Patel sold 16,687 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $22.74, for a total value of $379,462.38. Following the transaction, the insider directly owned 46,403 shares of the company’s stock, valued at approximately $1,055,204.22. This represents a 26.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 71,928 shares of company stock valued at $1,624,145.

Evommune Price Performance

Evommune stock opened at $19.83 on Friday. The business has a 50 day moving average of $23.67 and a 200-day moving average of $22.19. The company has a market capitalization of $714.28 million and a P/E ratio of -2.09. Evommune, Inc. has a 1 year low of $13.89 and a 1 year high of $33.20.

Evommune (NYSE:EVMN) last posted its 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. Equities analysts anticipate that Evommune, Inc. will post -2.85 EPS for the current year.

Analyst Upgrades and Downgrades

EVMN has been the subject of several recent analyst reports. Oppenheimer initiated coverage on Evommune in a research report on Tuesday, April 7th. They set an “outperform” rating and a $50.00 price objective for the company. Stifel Nicolaus initiated coverage on Evommune in a research report on Friday, May 1st. They set a “buy” rating and a $54.00 price objective for the company. Wall Street Zen downgraded Evommune from a “hold” rating to a “sell” rating in a research report on Saturday. Royal Bank Of Canada restated an “outperform” rating and set a $48.00 price objective on shares of Evommune in a research report on Friday, April 10th. Finally, Clear Str upgraded Evommune to a “strong-buy” rating in a research report on Tuesday, March 17th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $49.25.

Evommune 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.