Evommune (NYSE:EVMN) Announces Earnings Results

Evommune (NYSE:EVMN) announced its quarterly earnings results on Thursday. The company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.03), FiscalAI reports.

Evommune Stock Performance

Evommune stock traded down $0.60 during trading hours on Thursday, hitting $8.02. 1,141,359 shares of the stock traded hands, compared to its average volume of 952,615. Evommune has a one year low of $4.94 and a one year high of $33.20. The firm’s 50-day moving average price is $7.64 and its two-hundred day moving average price is $17.17.

Analysts Set New Price Targets

Several equities research analysts have weighed in on EVMN shares. Morgan Stanley initiated coverage on Evommune in a report on Tuesday, October 20th. They issued an “overweight” rating and a $26.00 price objective for the company. Weiss Ratings downgraded Evommune from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, September 11th. UBS Group assumed coverage on Evommune in a report on Sunday, October 11th. They set a “neutral” rating and a $8.00 target price for the company. Royal Bank Of Canada dropped their price target on Evommune from $29.00 to $21.00 and set an “outperform” rating for the company in a research note on Wednesday, September 9th. Finally, Raymond James Financial set a $18.00 price target on shares of Evommune in a report on Wednesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.80.

Institutional Investors Weigh In On Evommune

Several hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its holdings in Evommune by 25.3% in the first quarter. The Manufacturers Life Insurance Company now owns 12,812 shares of the company’s stock worth $295,000 after purchasing an additional 2,587 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Evommune in the 1st quarter worth about $508,000. Bank of America Corp DE grew its position in shares of Evommune by 928.3% in the 1st quarter. Bank of America Corp DE now owns 30,201 shares of the company’s stock worth $694,000 after buying an additional 27,264 shares during the period. Squarepoint Ops LLC bought a new position in shares of Evommune in the 2nd quarter worth about $634,000. Finally, Alps Advisors Inc. increased its stake in shares of Evommune by 30.6% in the 3rd quarter. Alps Advisors Inc. now owns 47,737 shares of the company’s stock worth $394,000 after acquiring an additional 11,179 shares in the last quarter.

About Evommune

Evommune is a clinical-stage biotechnology company developing therapies for chronic inflammatory diseases. Founded in 2020, the company focuses on biological pathways involved in inflammation and aims to develop treatments for conditions with significant unmet medical needs. Its pipeline includes EVO756, an oral investigational medicine designed to block MRGPRX2, a receptor involved in mast-cell activation. The candidate is being studied for inflammatory skin disorders, including chronic spontaneous urticaria and atopic dermatitis.