Evommune (NYSE:EVMN) Insider Jeegar Pravinkumar Patel Sells 1,488 Shares of Stock

Evommune, Inc. (NYSE:EVMN) insider Jeegar Pravinkumar Patel sold 1,488 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $22.50, for a total value of $33,480.00. Following the sale, the insider directly owned 46,403 shares of the company’s stock, valued at $1,044,067.50. The trade was a 3.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Jeegar Pravinkumar Patel also recently made the following trade(s):

• On Monday, June 1st, Jeegar Pravinkumar Patel sold 16,687 shares of Evommune stock. The shares were sold at an average price of $22.74, for a total transaction of $379,462.38.

Evommune Price Performance

Shares of EVMN stock opened at $23.53 on Thursday. The firm has a market cap of $847.59 million and a PE ratio of -2.48. The company has a 50-day moving average of $23.07 and a two-hundred day moving average of $22.28. Evommune, Inc. has a 1-year low of $13.89 and a 1-year high of $33.20.

Evommune (NYSE:EVMN) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.64) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.19. Sell-side analysts anticipate that Evommune, Inc. will post -2.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Strs Ohio purchased a new stake in Evommune during the 1st quarter worth approximately $41,000. China Universal Asset Management Co. Ltd. purchased a new position in Evommune in the 4th quarter valued at approximately $34,000. The Manufacturers Life Insurance Company grew its stake in shares of Evommune by 25.3% in the first quarter. The Manufacturers Life Insurance Company now owns 12,812 shares of the company’s stock worth $295,000 after acquiring an additional 2,587 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Evommune in the fourth quarter worth $321,000. Finally, Oxford Asset Management LLP purchased a new stake in shares of Evommune during the fourth quarter worth $335,000.

Analyst Ratings Changes

A number of analysts have issued reports on EVMN shares. Stifel Nicolaus began coverage on Evommune in a research report on Friday, May 1st. They issued a “buy” rating and a $54.00 target price on the stock. Oppenheimer assumed coverage on Evommune in a research report on Tuesday, April 7th. They set an “outperform” rating and a $50.00 price target for the company. Morgan Stanley lifted their price objective on Evommune from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Clear Str upgraded Evommune to a “strong-buy” rating in a report on Tuesday, March 17th. Finally, HC Wainwright reissued a “buy” rating and set a $50.00 target price on shares of Evommune in a research note on Tuesday, May 26th. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $49.25.

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.