Nan Fung Group Holdings Ltd Purchases Shares of 1,441,032 Evommune, Inc. $EVMN

Nan Fung Group Holdings Ltd purchased a new stake in Evommune, Inc. (NYSE:EVMN) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,441,032 shares of the company’s stock, valued at approximately $24,670,000. Evommune comprises 22.1% of Nan Fung Group Holdings Ltd’s holdings, making the stock its biggest holding. Nan Fung Group Holdings Ltd owned about 4.57% of Evommune at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capricorn Fund Managers Ltd purchased a new stake in Evommune in the fourth quarter valued at about $1,027,000. Seven Grand Managers LLC purchased a new stake in Evommune in the fourth quarter valued at about $1,284,000. Sectoral Asset Management Inc. purchased a new stake in Evommune in the fourth quarter valued at about $10,084,000. Monashee Investment Management LLC purchased a new stake in Evommune in the fourth quarter valued at about $3,137,000. Finally, EQT Fund Management S.a r.l. purchased a new stake in Evommune in the fourth quarter valued at about $84,395,000.

Wall Street Analyst Weigh In

EVMN has been the subject of a number of research analyst reports. Wall Street Zen cut Evommune from a “hold” rating to a “sell” rating in a research note on Saturday. HC Wainwright reiterated a “buy” rating and issued a $50.00 price target on shares of Evommune in a research note on Tuesday, May 26th. Morgan Stanley increased their price target on Evommune from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $48.00 price target on shares of Evommune in a research report on Friday, April 10th. Finally, Stifel Nicolaus assumed coverage on Evommune in a research report on Friday, May 1st. They set a “buy” rating and a $54.00 price target for the company. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $49.25.

Evommune Stock Performance

Shares of EVMN opened at $19.83 on Friday. The stock has a 50-day moving average of $23.67 and a two-hundred day moving average of $22.19. Evommune, Inc. has a one year low of $13.89 and a one year high of $33.20. The stock has a market cap of $714.28 million and a P/E ratio of -2.09.

Evommune (NYSE:EVMN) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.64) EPS for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.19. Analysts predict that Evommune, Inc. will post -2.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jeegar Pravinkumar Patel sold 16,687 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $22.74, for a total value of $379,462.38. Following the completion of the transaction, the insider owned 46,403 shares of the company’s stock, valued at $1,055,204.22. The trade was a 26.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gregory S. Moss sold 14,223 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $22.83, for a total value of $324,711.09. Following the completion of the transaction, the insider directly owned 60,835 shares of the company’s stock, valued at approximately $1,388,863.05. This trade represents a 18.95% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 71,928 shares of company stock worth $1,624,145.

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.