Evommune (NYSE:EVMN) Shares Down 10.2% – What’s Next?

Shares of Evommune, Inc. (NYSE:EVMN) traded down 10.2% during trading on Thursday . The company traded as low as $26.00 and last traded at $26.81. 264,453 shares changed hands during trading, a decline of 68% from the average session volume of 822,209 shares. The stock had previously closed at $29.86.

Analyst Ratings Changes

Several analysts have issued reports on EVMN shares. Wall Street Zen raised shares of Evommune from a “sell” rating to a “hold” rating in a research note on Sunday, December 14th. Leerink Partners initiated coverage on Evommune in a research note on Monday, December 1st. They set an “outperform” rating and a $42.00 target price on the stock. Evercore reissued an “outperform” rating and set a $55.00 price target on shares of Evommune in a research note on Tuesday, February 10th. Morgan Stanley restated an “overweight” rating and set a $54.00 price objective on shares of Evommune in a report on Wednesday, February 18th. Finally, Raymond James Financial assumed coverage on Evommune in a research report on Wednesday, January 7th. They issued a “strong-buy” rating and a $40.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.67.

Evommune Stock Down 1.7%

The stock has a fifty day simple moving average of $21.29. The stock has a market cap of $825.51 million and a P/E ratio of -3.25.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd bought a new stake in shares of Evommune in the 4th quarter valued at about $321,000. Tudor Investment Corp ET AL bought a new position in shares of Evommune during the fourth quarter valued at approximately $547,000. Sphera Funds Management LTD. purchased a new position in Evommune during the fourth quarter valued at approximately $2,844,000. RTW Investments LP bought a new position in Evommune in the fourth quarter worth approximately $21,976,000. Finally, Oxford Asset Management LLP purchased a new stake in Evommune during the fourth quarter worth $335,000.

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.