Evommune (NYSE:EVMN) Stock Price Up 8.1% – What’s Next?

Evommune, Inc. (NYSE:EVMN) shares traded up 8.1% on Tuesday . The company traded as high as $24.38 and last traded at $24.3770. Approximately 278,388 shares were traded during trading, a decline of 46% from the average session volume of 512,941 shares. The stock had previously closed at $22.55.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Royal Bank Of Canada reiterated an “outperform” rating and issued a $48.00 price objective on shares of Evommune in a report on Friday, April 10th. Oppenheimer began coverage on shares of Evommune in a research note on Tuesday, April 7th. They set an “outperform” rating and a $50.00 price objective for the company. Clear Str upgraded shares of Evommune to a “strong-buy” rating in a research report on Tuesday, March 17th. Wall Street Zen cut Evommune from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Finally, Morgan Stanley increased their price objective on Evommune from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Evommune presently has a consensus rating of “Buy” and an average target price of $49.25.

Evommune Stock Up 6.5%

The firm’s 50-day moving average is $23.16 and its two-hundred day moving average is $22.25. The stock has a market cap of $864.61 million and a P/E ratio of -2.53.

Evommune (NYSE:EVMN) last posted its earnings results on Thursday, May 7th. The company reported ($0.64) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.19. Analysts anticipate that Evommune, Inc. will post -2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Gregory S. Moss sold 14,223 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $22.83, for a total value of $324,711.09. Following the completion of the sale, the insider directly owned 60,835 shares in the company, valued at approximately $1,388,863.05. The trade was a 18.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kyle Carver sold 18,175 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $22.84, for a total value of $415,117.00. Following the completion of the sale, the chief financial officer directly owned 59,335 shares in the company, valued at $1,355,211.40. This trade represents a 23.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 71,928 shares of company stock valued at $1,624,145.

Institutional Investors Weigh In On Evommune

Institutional investors have recently bought and sold shares of the business. EQT Fund Management S.a r.l. bought a new position in shares of Evommune during the 4th quarter worth about $84,395,000. RA Capital Management L.P. bought a new position in shares of Evommune during the fourth quarter valued at $59,214,000. Pivotal bioVenture Partners Investment Advisor LLC bought a new stake in shares of Evommune in the 4th quarter worth about $32,989,000. Nan Fung Group Holdings Ltd acquired a new position in Evommune in the fourth quarter valued at about $24,670,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Evommune during the fourth quarter worth approximately $22,408,000.

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.