Evommune (NYSE:EVMN) Announces Quarterly Earnings Results

Evommune (NYSE:EVMN) issued its quarterly earnings results on Thursday. The company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.21), FiscalAI reports.

Evommune Price Performance

Shares of Evommune stock traded up $0.62 during trading on Friday, reaching $14.00. 28,339 shares of the stock traded hands, compared to its average volume of 645,522. Evommune has a 52-week low of $10.47 and a 52-week high of $33.20. The business has a fifty day simple moving average of $16.17 and a two-hundred day simple moving average of $21.21. The company has a market capitalization of $504.28 million and a price-to-earnings ratio of -1.49.

Insider Activity at Evommune

In related news, CEO Luis C. Pena sold 16,787 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $22.74, for a total transaction of $381,736.38. Following the completion of the transaction, the chief executive officer directly owned 637,896 shares of the company’s stock, valued at approximately $14,505,755.04. This represents a 2.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gregory S. Moss sold 14,223 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $22.83, for a total value of $324,711.09. Following the transaction, the insider owned 60,835 shares of the company’s stock, valued at $1,388,863.05. This represents a 18.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 100,854 shares of company stock valued at $2,279,142 in the last 90 days. 31.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Evommune

Hedge funds have recently bought and sold shares of the business. Strs Ohio purchased a new position in shares of Evommune in the 1st quarter worth $41,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Evommune during the 4th quarter valued at about $34,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Evommune during the 4th quarter valued at about $179,000. XTX Topco Ltd bought a new position in shares of Evommune in the 4th quarter valued at about $321,000. Finally, Oxford Asset Management LLP purchased a new position in Evommune in the fourth quarter worth about $335,000.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Weiss Ratings lowered shares of Evommune from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, June 29th. Wall Street Zen cut Evommune from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Raymond James Financial lowered Evommune from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, June 29th. Stifel Nicolaus initiated coverage on Evommune in a research note on Friday, May 1st. They set a “buy” rating and a $54.00 target price on the stock. Finally, Morgan Stanley lowered their price target on Evommune from $55.00 to $26.00 and set an “overweight” rating on the stock in a report on Tuesday, June 30th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Evommune presently has a consensus rating of “Moderate Buy” and an average price target of $45.62.

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.