Defilade Capital Management L.P. Increases Stake in Evommune, Inc. $EVMN

Defilade Capital Management L.P. raised its position in Evommune, Inc. (NYSE:EVMN) by 215.0% in the 1st quarter, Holdings Channel reports. The fund owned 678,589 shares of the company’s stock after acquiring an additional 463,171 shares during the period. Evommune accounts for approximately 2.2% of Defilade Capital Management L.P.’s holdings, making the stock its 21st biggest position. Defilade Capital Management L.P.’s holdings in Evommune were worth $15,601,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Capricorn Fund Managers Ltd purchased a new position in Evommune during the fourth quarter worth about $1,027,000. China Universal Asset Management Co. Ltd. acquired a new stake in Evommune in the fourth quarter valued at about $34,000. Sectoral Asset Management Inc. purchased a new stake in Evommune in the 4th quarter valued at approximately $10,084,000. Geode Capital Management LLC acquired a new position in Evommune during the 4th quarter worth approximately $1,881,000. Finally, Seven Grand Managers LLC acquired a new position in Evommune during the 4th quarter worth approximately $1,284,000.

Insider Transactions at Evommune

In other Evommune news, insider Jeegar Pravinkumar Patel sold 16,687 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $22.74, for a total transaction of $379,462.38. Following the sale, the insider directly owned 46,403 shares in the company, valued at approximately $1,055,204.22. The trade was a 26.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Janice Suzann Drew sold 20,000 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $22.63, for a total value of $452,600.00. Following the completion of the sale, the insider directly owned 67,794 shares in the company, valued at $1,534,178.22. This trade represents a 22.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 100,854 shares of company stock worth $2,279,142 over the last ninety days. 31.10% of the stock is currently owned by corporate insiders.

Evommune Trading Down 0.1%

Shares of EVMN opened at $11.23 on Monday. Evommune, Inc. has a twelve month low of $10.47 and a twelve month high of $33.20. The firm has a market capitalization of $404.68 million and a P/E ratio of -1.18. The firm’s 50-day moving average is $17.00 and its two-hundred day moving average is $21.41.

Evommune (NYSE:EVMN) last posted 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. Analysts predict that Evommune, Inc. will post -2.83 EPS for the current year.

Wall Street Analyst Weigh In

EVMN has been the subject of several recent analyst reports. Raymond James Financial cut Evommune from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, June 29th. Oppenheimer began coverage on Evommune in a report on Tuesday, April 7th. They set an “outperform” rating and a $50.00 price objective on the stock. William Blair cut Evommune from an “outperform” rating to a “market perform” rating in a research report on Monday, June 29th. HC Wainwright downgraded Evommune from a “buy” rating to a “neutral” rating in a report on Tuesday, June 30th. Finally, Weiss Ratings lowered shares of Evommune from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, June 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.62.

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.