Jeegar Pravinkumar Patel Sells 16,687 Shares of Evommune (NYSE:EVMN) Stock

Evommune, Inc. (NYSE:EVMN) insider Jeegar Pravinkumar Patel sold 16,687 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $22.74, for a total value of $379,462.38. Following the transaction, the insider owned 46,403 shares of the company’s stock, valued at $1,055,204.22. This represents a 26.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Evommune Stock Up 5.3%

Evommune stock opened at $20.78 on Friday. The business’s fifty day moving average is $23.97. Evommune, Inc. has a 52-week low of $13.89 and a 52-week high of $33.20. The firm has a market capitalization of $748.57 million and a price-to-earnings ratio of -2.19.

Evommune (NYSE:EVMN) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.64) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.83) by $0.19. On average, sell-side analysts forecast that Evommune, Inc. will post -2.86 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on EVMN shares. Clear Str upgraded Evommune to a “strong-buy” rating in a research note on Tuesday, March 17th. Morgan Stanley raised their target price on Evommune from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. HC Wainwright restated a “buy” rating and issued a $50.00 target price on shares of Evommune in a research note on Tuesday, May 26th. Oppenheimer started coverage on Evommune in a research note on Tuesday, April 7th. They issued an “outperform” rating and a $50.00 target price for the company. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $48.00 target price on shares of Evommune in a research note on Friday, April 10th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Evommune presently has a consensus rating of “Buy” and a consensus target price of $49.25.

Institutional Trading of Evommune

A number of hedge funds and other institutional investors have recently made changes to their positions in EVMN. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Evommune in the fourth quarter valued at $34,000. Strs Ohio acquired a new stake in Evommune in the first quarter worth about $41,000. The Manufacturers Life Insurance Company acquired a new stake in Evommune in the fourth quarter worth about $179,000. XTX Topco Ltd acquired a new stake in Evommune in the fourth quarter worth about $321,000. Finally, Oxford Asset Management LLP acquired a new stake in Evommune in the fourth quarter worth about $335,000.

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.