Evommune (NYSE:EVMN) Stock Dropped to “Strong Sell” by Wall Street Zen

Evommune (NYSE:EVMN) was downgraded by Wall Street Zen from a “sell” rating to a “strong sell” rating in a report issued on Saturday, Wall Street Zen reports.

A number of other equities research analysts have also commented on the stock. UBS Group initiated coverage on shares of Evommune in a report on Sunday, October 11th. They set a “neutral” rating and a $8.00 price objective on the stock. Royal Bank Of Canada reduced their target price on shares of Evommune from $29.00 to $21.00 and set an “outperform” rating for the company in a research note on Wednesday, September 9th. Stifel Nicolaus set a $30.00 target price on Evommune in a report on Wednesday, September 9th. Raymond James Financial set a $18.00 price target on Evommune in a report on Wednesday, September 9th. Finally, HC Wainwright restated a “neutral” rating on shares of Evommune in a report on Wednesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Evommune has an average rating of “Moderate Buy” and an average price target of $30.50.

Evommune Trading Down 4.6%

Shares of EVMN opened at $7.65 on Friday. The stock has a 50 day simple moving average of $7.56 and a 200 day simple moving average of $17.11. Evommune has a 52-week low of $4.94 and a 52-week high of $33.20.

Evommune (NYSE:EVMN) last announced its earnings results on Thursday, November 12th. The company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.03). As a group, equities research analysts anticipate that Evommune will post -3.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Evommune

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its stake in Evommune by 25.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 12,812 shares of the company’s stock valued at $295,000 after buying an additional 2,587 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Evommune during the first quarter worth approximately $508,000. Bank of America Corp DE boosted its holdings in shares of Evommune by 928.3% during the first quarter. Bank of America Corp DE now owns 30,201 shares of the company’s stock worth $694,000 after acquiring an additional 27,264 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Evommune in the second quarter valued at approximately $634,000. Finally, Alps Advisors Inc. increased its stake in shares of Evommune by 30.6% during the third quarter. Alps Advisors Inc. now owns 47,737 shares of the company’s stock worth $394,000 after purchasing an additional 11,179 shares during the period.

About Evommune

Evommune is a clinical-stage biotechnology company developing therapies for chronic inflammatory diseases. Founded in 2020, the company focuses on biological pathways involved in inflammation and aims to develop treatments for conditions with significant unmet medical needs. Its pipeline includes EVO756, an oral investigational medicine designed to block MRGPRX2, a receptor involved in mast-cell activation. The candidate is being studied for inflammatory skin disorders, including chronic spontaneous urticaria and atopic dermatitis.