HC Wainwright Reiterates Neutral Rating for Evommune (NYSE:EVMN)

Evommune (NYSE:EVMN)‘s stock had its “neutral” rating restated by stock analysts at HC Wainwright in a research note issued to investors on Monday,Benzinga reports.

Several other equities research analysts also recently issued reports on the stock. Morgan Stanley dropped their price target on shares of Evommune from $55.00 to $26.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 30th. William Blair lowered shares of Evommune from an “outperform” rating to a “market perform” rating in a research note on Monday, June 29th. Stifel Nicolaus initiated coverage on shares of Evommune in a report on Friday, May 1st. They issued a “buy” rating and a $54.00 price target on the stock. Oppenheimer initiated coverage on shares of Evommune in a research note on Tuesday, April 7th. They set an “outperform” rating and a $50.00 price objective on the stock. Finally, Weiss Ratings lowered shares of Evommune from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $45.62.

Evommune Stock Performance

Shares of NYSE:EVMN opened at $11.23 on Monday. Evommune has a 1 year low of $10.47 and a 1 year high of $33.20. The stock has a 50-day simple moving average of $17.00 and a 200-day simple moving average of $21.41. The stock has a market capitalization of $404.68 million and a P/E ratio of -1.18.

Evommune (NYSE:EVMN) last issued its earnings results on Thursday, May 7th. The company reported ($0.64) EPS for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.19. Analysts predict that Evommune will post -2.83 earnings per share for the current year.

Insider Buying and Selling at Evommune

In related news, CEO Luis C. Pena sold 7,438 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $22.71, for a total transaction of $168,916.98. Following the sale, the chief executive officer directly owned 630,458 shares of the company’s stock, valued at approximately $14,317,701.18. This represents a 1.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David E. Cohen sold 6,056 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $20.33, for a total transaction of $123,118.48. Following the sale, the director owned 17,609 shares of the company’s stock, valued at approximately $357,990.97. The trade was a 25.59% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 100,854 shares of company stock worth $2,279,142. 31.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EQT Fund Management S.a r.l. acquired a new position in shares of Evommune during the fourth quarter valued at $84,395,000. RA Capital Management L.P. acquired a new position in shares of Evommune during the fourth quarter worth approximately $59,214,000. Pivotal bioVenture Partners Investment Advisor LLC acquired a new stake in Evommune in the 4th quarter valued at approximately $32,989,000. Nan Fung Group Holdings Ltd acquired a new position in Evommune during the 4th quarter worth $24,670,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of Evommune during the fourth quarter valued at $22,408,000.

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.