Evommune (NYSE:EVMN) Stock Rating Cut to Strong Sell at Wall Street Zen

Evommune (NYSE:EVMN - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a report issued on Saturday, Wall Street Zen reports.

Other analysts have also recently issued reports about the company. Needham & Company LLC lowered their price target on Evommune from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Friday. HC Wainwright reiterated a "neutral" rating on shares of Evommune in a research note on Wednesday, September 9th. Raymond James Financial set a $18.00 price target on Evommune in a report on Wednesday, September 9th. Royal Bank Of Canada reduced their target price on shares of Evommune from $29.00 to $21.00 and set an "outperform" rating on the stock in a research report on Wednesday, September 9th. Finally, Stifel Nicolaus set a $30.00 price target on Evommune in a report on Wednesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $30.50.

Evommune Stock Down 4.6%

NYSE:EVMN opened at $7.65 on Friday. The company has a 50-day moving average of $7.56 and a 200-day moving average of $17.11. Evommune has a 52 week low of $4.94 and a 52 week high of $33.20.

Evommune (NYSE:EVMN - Get Free Report) last posted its quarterly earnings results on Thursday, November 12th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.03). Equities research analysts predict that Evommune will post -3.35 earnings per share for the current fiscal year.

Institutional Trading of Evommune

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC bought a new stake in Evommune in the first quarter valued at approximately $20,615,000. Defilade Capital Management L.P. boosted its position in shares of Evommune by 215.0% during the first quarter. Defilade Capital Management L.P. now owns 678,589 shares of the company's stock worth $15,601,000 after purchasing an additional 463,171 shares in the last quarter. Velan Capital Investment Management LP boosted its position in shares of Evommune by 1.1% during the second quarter. Velan Capital Investment Management LP now owns 451,255 shares of the company's stock worth $5,997,000 after purchasing an additional 5,000 shares in the last quarter. Perceptive Advisors LLC acquired a new position in shares of Evommune in the 1st quarter valued at $10,308,000. Finally, Stempoint Capital LP grew its holdings in shares of Evommune by 184.1% in the 1st quarter. Stempoint Capital LP now owns 193,777 shares of the company's stock valued at $4,385,000 after buying an additional 125,581 shares during the period.

Evommune Company Profile

Evommune is a clinical-stage biotechnology company developing therapies for chronic inflammatory diseases. Founded in 2020, the company focuses on biological pathways involved in inflammation and aims to develop treatments for conditions with significant unmet medical needs. Its pipeline includes EVO756, an oral investigational medicine designed to block MRGPRX2, a receptor involved in mast-cell activation. The candidate is being studied for inflammatory skin disorders, including chronic spontaneous urticaria and atopic dermatitis.

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