Evommune (NYSE:EVMN) Trading Down 7.4% – Time to Sell?

Evommune, Inc. (NYSE:EVMN)’s share price fell 7.4% during trading on Thursday . The company traded as low as $28.48 and last traded at $28.80. 93,433 shares were traded during mid-day trading, a decline of 89% from the average session volume of 871,425 shares. The stock had previously closed at $31.10.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EVMN. Oppenheimer assumed coverage on shares of Evommune in a report on Thursday, January 22nd. They issued an “outperform” rating and a $42.00 target price on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $54.00 price objective on shares of Evommune in a research note on Wednesday. Zacks Research upgraded Evommune to a “hold” rating in a report on Tuesday, December 2nd. Weiss Ratings assumed coverage on Evommune in a report on Tuesday, February 3rd. They issued a “sell (e)” rating for the company. Finally, Evercore restated an “outperform” rating and set a $55.00 target price on shares of Evommune in a report on Tuesday, February 10th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Evommune currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.67.

Evommune Price Performance

The firm has a market capitalization of $895.28 million and a PE ratio of -3.52. The firm has a 50-day moving average price of $20.19.

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

Institutional Investors Weigh In On Evommune

Several large investors have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Evommune during the 4th quarter valued at about $34,000. The Manufacturers Life Insurance Company bought a new stake in Evommune in the 4th quarter worth approximately $179,000. XTX Topco Ltd bought a new position in shares of Evommune during the 4th quarter valued at $321,000. Oxford Asset Management LLP purchased a new stake in Evommune during the fourth quarter valued at $335,000. Finally, State Street Corp bought a new position in Evommune in the fourth quarter valued at about $539,000.

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.