Evommune (NYSE:EVMN) Trading Down 6.9% – Should You Sell?

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EVMN. Oppenheimer began coverage on Evommune in a research report on Thursday, January 22nd. They set an “outperform” rating and a $42.00 price target on the stock. Raymond James Financial started coverage on Evommune in a report on Wednesday, January 7th. They issued a “strong-buy” rating and a $40.00 price objective for the company. Zacks Research raised shares of Evommune to a “hold” rating in a research note on Tuesday, December 2nd. The Goldman Sachs Group upgraded Evommune to a “buy” rating in a research report on Wednesday, January 7th. Finally, Evercore ISI assumed coverage on shares of Evommune in a research 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 issued a Hold rating to the company. According to data from MarketBeat.com, Evommune has a consensus rating of “Buy” and an average target price of $39.17.

Evommune Price Performance

The firm has a 50 day simple moving average of $18.66. The company has a market capitalization of $683.98 million and a PE ratio of -2.69.

Evommune (NYSE:EVMN) last posted its quarterly earnings results on Thursday, December 11th. The company reported ($8.07) EPS for the quarter, missing analysts’ consensus estimates of ($6.58) by ($1.49). The firm had revenue of $10.00 million for the quarter, compared to analysts’ expectations of $10.00 million.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Evommune stock. China Universal Asset Management Co. Ltd. purchased a new position in Evommune, Inc. (NYSE:EVMN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,000 shares of the company’s stock, valued at approximately $34,000.

About Evommune

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.