Octagon Capital Advisors LP Has $3.30 Million Stake in Evommune, Inc. $EVMN

Octagon Capital Advisors LP reduced its holdings in Evommune, Inc. (NYSE:EVMN) by 71.3% during the 1st quarter, HoldingsChannel reports. The firm owned 143,472 shares of the company’s stock after selling 356,528 shares during the quarter. Evommune comprises about 0.4% of Octagon Capital Advisors LP’s investment portfolio, making the stock its 28th biggest position. Octagon Capital Advisors LP’s holdings in Evommune were worth $3,298,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in EVMN. EQT Fund Management S.a r.l. bought a new stake in Evommune during the 4th quarter valued at approximately $84,395,000. RA Capital Management L.P. bought a new position in Evommune in the 4th quarter worth approximately $59,214,000. Pivotal bioVenture Partners Investment Advisor LLC acquired a new position in shares of Evommune during the fourth quarter worth approximately $32,989,000. Nan Fung Group Holdings Ltd bought a new stake in shares of Evommune in the fourth quarter valued at approximately $24,670,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Evommune in the fourth quarter worth $22,408,000.

Evommune Price Performance

Shares of EVMN stock opened at $11.36 on Monday. Evommune, Inc. has a one year low of $10.47 and a one year high of $33.20. The stock has a fifty day moving average price of $18.11 and a 200 day moving average price of $21.66. The stock has a market cap of $409.16 million and a P/E ratio of -1.20.

Evommune (NYSE:EVMN) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.64) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.83) by $0.19. Equities research analysts anticipate that Evommune, Inc. will post -2.83 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities 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 research report on Monday, June 29th. Morgan Stanley decreased their price target on shares of Evommune from $55.00 to $26.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 30th. Raymond James Financial downgraded shares of Evommune from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, June 29th. HC Wainwright lowered shares of Evommune from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 30th. Finally, Wall Street Zen cut shares of Evommune from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued 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 target price of $45.62.

Insider Buying and Selling at Evommune

In other Evommune news, insider Jeegar Pravinkumar Patel sold 1,488 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $22.50, for a total transaction of $33,480.00. Following the completion of the transaction, the insider owned 46,403 shares in the company, valued at $1,044,067.50. This trade represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Luis C. Pena sold 7,438 shares of Evommune stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $22.71, for a total value of $168,916.98. Following the sale, the chief executive officer directly owned 630,458 shares in the company, valued at $14,317,701.18. The trade was a 1.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 100,854 shares of company stock worth $2,279,142 in the last 90 days. 31.10% of the stock is currently owned by insiders.

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.