NEXTBio Capital Management LP Invests $3.91 Million in Evommune, Inc. $EVMN

NEXTBio Capital Management LP acquired a new position in shares of Evommune, Inc. (NYSE:EVMN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 228,286 shares of the company’s stock, valued at approximately $3,908,000. Evommune makes up 2.3% of NEXTBio Capital Management LP’s investment portfolio, making the stock its 17th largest holding. NEXTBio Capital Management LP owned 0.72% of Evommune at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in EVMN. Capricorn Fund Managers Ltd bought a new stake in shares of Evommune during the 4th quarter worth approximately $1,027,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Evommune during the 4th quarter worth approximately $34,000. Sectoral Asset Management Inc. bought a new stake in shares of Evommune during the 4th quarter worth approximately $10,084,000. Geode Capital Management LLC bought a new stake in shares of Evommune during the 4th quarter worth approximately $1,881,000. Finally, Seven Grand Managers LLC bought a new stake in shares of Evommune during the 4th quarter worth approximately $1,284,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on EVMN shares. Wall Street Zen cut Evommune from a “hold” rating to a “sell” rating in a research note on Saturday. Clear Str raised Evommune to a “strong-buy” rating in a report on Tuesday, March 17th. Morgan Stanley boosted their target price on Evommune from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Stifel Nicolaus initiated coverage on Evommune in a report on Friday, May 1st. They set a “buy” rating and a $54.00 target price on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $50.00 target price on shares of Evommune in a report on Tuesday, May 26th. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $49.25.

Evommune Trading Down 4.2%

EVMN stock opened at $19.83 on Friday. The firm has a market capitalization of $714.28 million and a PE ratio of -2.09. Evommune, Inc. has a 1-year low of $13.89 and a 1-year high of $33.20. The business’s 50 day simple moving average is $23.67 and its 200 day simple moving average is $22.19.

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

Insider Activity

In other news, insider Gregory S. Moss sold 14,223 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $22.83, for a total transaction of $324,711.09. Following the completion of the sale, the insider directly owned 60,835 shares in the company, valued at approximately $1,388,863.05. This represents a 18.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kyle Carver sold 18,175 shares of the company’s stock in a transaction 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 owned 59,335 shares of the company’s stock, valued at approximately $1,355,211.40. The trade was a 23.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders 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.