Evommune (NYSE:EVMN) Shares Up 4.7% – Here’s What Happened

Evommune, Inc. (NYSE:EVMN) shares shot up 4.7% on Tuesday . The stock traded as high as $25.50 and last traded at $25.7390. 245,786 shares traded hands during trading, a decline of 60% from the average session volume of 612,964 shares. The stock had previously closed at $24.58.

Analysts Set New Price Targets

Several brokerages have weighed in on EVMN. Weiss Ratings began coverage on shares of Evommune in a research report on Tuesday, February 3rd. They set a “sell (e)” rating for the company. Clear Str raised shares of Evommune to a “strong-buy” rating in a research report on Tuesday, March 17th. Oppenheimer began coverage on shares of Evommune in a research report on Tuesday. They set an “outperform” rating and a $50.00 price target for the company. The Goldman Sachs Group raised shares of Evommune to a “buy” rating in a research report on Wednesday, January 7th. Finally, Evercore reissued an “outperform” rating and set a $55.00 price target on shares of Evommune in a research report on Tuesday, February 10th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Evommune currently has a consensus rating of “Buy” and a consensus target price of $48.50.

Evommune Trading Up 1.6%

The stock has a market capitalization of $899.26 million and a price-to-earnings ratio of -3.09. The business’s 50-day simple moving average is $24.16.

Evommune (NYSE:EVMN) last issued its quarterly earnings data on Thursday, March 5th. The company reported ($1.43) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.61).

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. bought a new position in Evommune in the 4th quarter worth $34,000. The Manufacturers Life Insurance Company bought a new position in Evommune in the 4th quarter worth $179,000. XTX Topco Ltd bought a new position in Evommune in the 4th quarter worth $321,000. Oxford Asset Management LLP bought a new position in Evommune in the 4th quarter worth $335,000. Finally, State Street Corp bought a new position in Evommune in the 4th quarter worth $539,000.

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.