Defilade Capital Management L.P. Boosts Position in Evommune, Inc. $EVMN

Defilade Capital Management L.P. boosted its holdings in Evommune, Inc. (NYSE:EVMN) by 215.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 678,589 shares of the company’s stock after purchasing an additional 463,171 shares during the quarter. Evommune comprises approximately 2.2% of Defilade Capital Management L.P.’s portfolio, making the stock its 21st biggest position. Defilade Capital Management L.P. owned approximately 1.88% of Evommune worth $15,601,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Capricorn Fund Managers Ltd acquired a new stake in Evommune during the fourth quarter worth approximately $1,027,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Evommune in the 4th quarter valued at $34,000. Sectoral Asset Management Inc. acquired a new position in shares of Evommune in the 4th quarter valued at $10,084,000. Geode Capital Management LLC purchased a new position in shares of Evommune in the 4th quarter valued at $1,881,000. Finally, Seven Grand Managers LLC purchased a new position in shares of Evommune in the 4th quarter valued at $1,284,000.

Evommune Price Performance

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

Evommune (NYSE:EVMN) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.64) EPS for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.19. Sell-side analysts expect that Evommune, Inc. will post -2.83 EPS for the current fiscal year.

Insider Activity

In related 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 transaction, the insider owned 46,403 shares in the company, valued at $1,055,204.22. The trade was a 26.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Kyle Carver sold 18,175 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $22.84, for a total value of $415,117.00. Following the sale, the chief financial officer directly owned 59,335 shares of the company’s stock, valued at approximately $1,355,211.40. This represents a 23.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 100,854 shares of company stock valued at $2,279,142. Insiders own 31.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Weiss Ratings cut shares of Evommune from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, June 29th. William Blair lowered Evommune from an “outperform” rating to a “market perform” rating in a report on Monday, June 29th. Morgan Stanley cut their target price on Evommune from $55.00 to $26.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 30th. HC Wainwright downgraded Evommune from a “buy” rating to a “neutral” rating in a report on Tuesday, June 30th. Finally, Wall Street Zen cut Evommune from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Two investment 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 issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.62.

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.