William Blair Downgrades Evommune (NYSE:EVMN) to Market Perform

Evommune (NYSE:EVMN) was downgraded by research analysts at William Blair from an “outperform” rating to a “market perform” rating in a note issued to investors on Monday, Marketbeat Ratings reports.

Other analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of Evommune from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. HC Wainwright restated a “buy” rating and set a $50.00 price objective on shares of Evommune in a report on Tuesday, May 26th. Clear Str raised shares of Evommune to a “strong-buy” rating in a research report on Tuesday, March 17th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $48.00 target price on shares of Evommune in a research report on Friday, April 10th. Finally, Stifel Nicolaus started coverage on Evommune in a research note on Friday, May 1st. They set a “buy” rating and a $54.00 price objective on the stock. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $49.25.

Evommune Stock Performance

Shares of NYSE:EVMN traded down $8.74 during midday trading on Monday, reaching $16.44. The company’s stock had a trading volume of 1,491,977 shares, compared to its average volume of 530,346. Evommune has a fifty-two week low of $13.89 and a fifty-two week high of $33.20. The firm has a 50 day moving average price of $22.98 and a two-hundred day moving average price of $22.34. The firm has a market capitalization of $591.99 million and a price-to-earnings ratio of -1.77.

Evommune (NYSE:EVMN) last released its earnings results on Thursday, May 7th. The company reported ($0.64) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.19. As a group, research analysts anticipate that Evommune will post -2.85 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Kyle Carver sold 18,175 shares of the business’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 owned 59,335 shares of the company’s stock, valued at $1,355,211.40. The trade was a 23.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Janice Suzann Drew sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $22.63, for a total transaction of $452,600.00. Following the sale, the insider owned 67,794 shares in the company, valued at $1,534,178.22. The trade was a 22.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 100,854 shares of company stock worth $2,279,142 in the last quarter.

Hedge Funds Weigh In On Evommune

Large investors have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. purchased a new position in shares of Evommune in the fourth quarter valued at $34,000. Strs Ohio purchased a new stake in Evommune during the 1st quarter worth about $41,000. The Manufacturers Life Insurance Company purchased a new stake in Evommune during the 4th quarter worth about $179,000. XTX Topco Ltd bought a new position in Evommune in the 4th quarter worth about $321,000. Finally, Oxford Asset Management LLP purchased a new position in Evommune during the 4th quarter valued at about $335,000.

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.