Nan Fung Group Holdings Ltd Takes Position in Evommune, Inc. $EVMN

Nan Fung Group Holdings Ltd acquired a new stake in Evommune, Inc. (NYSE:EVMN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,441,032 shares of the company’s stock, valued at approximately $24,670,000. Evommune accounts for about 22.1% of Nan Fung Group Holdings Ltd’s holdings, making the stock its biggest position.

Several other institutional investors and hedge funds have also modified their holdings of EVMN. EQT Fund Management S.a r.l. acquired a new position in Evommune in the 4th quarter worth about $84,395,000. Pivotal bioVenture Partners Investment Advisor LLC acquired a new position in Evommune in the 4th quarter worth about $32,989,000. JPMorgan Chase & Co. acquired a new position in Evommune in the 4th quarter worth about $22,408,000. SymBiosis Capital Partners LLC acquired a new position in Evommune in the 4th quarter worth about $21,927,000. Finally, Marshall Wace LLP acquired a new position in Evommune in the 4th quarter worth about $16,918,000.

Evommune Trading Down 4.2%

NYSE:EVMN opened at $19.83 on Friday. Evommune, Inc. has a 12 month low of $13.89 and a 12 month high of $33.20. The stock has a 50 day moving average of $23.67 and a two-hundred day moving average of $22.19. The firm has a market cap of $714.28 million and a P/E ratio of -2.09.

Evommune (NYSE:EVMN) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.64) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.19. On average, research analysts forecast that Evommune, Inc. will post -2.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

EVMN has been the subject of a number of analyst reports. Oppenheimer initiated coverage on Evommune in a report on Tuesday, April 7th. They issued an “outperform” rating and a $50.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price target on shares of Evommune in a report on Tuesday, May 26th. Stifel Nicolaus initiated coverage on Evommune in a report on Friday, May 1st. They issued a “buy” rating and a $54.00 price target for the company. Morgan Stanley upped their price target on Evommune from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $48.00 price target on shares of Evommune in a report on Friday, April 10th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $49.25.

Insiders Place Their Bets

In other news, CEO Luis C. Pena sold 16,787 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $22.74, for a total value of $381,736.38. Following the completion of the sale, the chief executive officer directly owned 637,896 shares in the company, valued at $14,505,755.04. This represents a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeegar Pravinkumar Patel sold 16,687 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $22.74, for a total value of $379,462.38. Following the completion of the sale, the insider owned 46,403 shares of the company’s stock, valued at $1,055,204.22. This trade represents a 26.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 71,928 shares of company stock valued at $1,624,145.

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.