Evommune's (EVMN) Neutral Rating Reaffirmed at HC Wainwright

Key Points

• HC Wainwright reaffirmed its Neutral rating on Evommune, while analysts overall maintain a Moderate Buy consensus with an average price target of $41.56.
• Evommune shares opened at $13.20 and were reported up 7.6%, but the clinical-stage biotech missed quarterly earnings estimates, reporting a loss of $0.89 per share versus the expected $0.68 loss.
• Insiders sold 28,926 shares worth approximately $655,000 in the last quarter, while several institutional investors—including Janus Henderson and Perceptive Advisors—built significant positions.

Evommune (NYSE:EVMN - Get Free Report)'s stock had its "neutral" rating reaffirmed by research analysts at HC Wainwright in a research report issued to clients and investors on Wednesday, Benzinga reports.

A number of other research analysts have also weighed in on EVMN. William Blair lowered shares of Evommune from an "outperform" rating to a "market perform" rating in a research report on Monday, June 29th. Needham & Company LLC initiated coverage on shares of Evommune in a research report on Wednesday, August 26th. They set a "buy" rating and a $28.00 price target on the stock. Royal Bank Of Canada decreased their price objective on Evommune from $30.00 to $29.00 and set an "outperform" rating for the company in a report on Friday, August 7th. Wall Street Zen lowered Evommune from a "hold" rating to a "sell" rating in a research note on Saturday, June 13th. Finally, Weiss Ratings downgraded shares of Evommune from a "sell (d)" rating to a "sell (d-)" rating in a report on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $41.56.

Evommune Stock Up 7.6%

Shares of EVMN opened at $13.20 on Wednesday. Evommune has a 52-week low of $10.47 and a 52-week high of $33.20. The company has a 50-day simple moving average of $12.83 and a 200-day simple moving average of $19.82. The company has a market capitalization of $479.06 million and a PE ratio of -1.20.

Evommune (NYSE:EVMN - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.21). On average, research analysts anticipate that Evommune will post -3.16 EPS for the current year.

Insider Activity

In related news, insider Janice Drew sold 20,000 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $22.63, for a total transaction of $452,600.00. Following the sale, the insider directly owned 67,794 shares of the company's stock, valued at $1,534,178.22. This trade represents a 22.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Luis Pena sold 7,438 shares of the company's stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $22.71, for a total transaction of $168,916.98. Following the completion of the transaction, the chief executive officer directly owned 630,458 shares of the company's stock, valued at $14,317,701.18. This represents a 1.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 28,926 shares of company stock valued at $654,997 in the last quarter. 31.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC purchased a new stake in Evommune during the 1st quarter worth approximately $20,615,000. Stempoint Capital LP lifted its position in Evommune by 184.1% in the first 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 last quarter. Perceptive Advisors LLC acquired a new stake in shares of Evommune during the first quarter valued at about $10,308,000. Sofinnova Investments Inc. acquired a new position in shares of Evommune in the 4th quarter worth approximately $2,625,000. Finally, Defilade Capital Management L.P. increased its holdings in Evommune by 215.0% in the 1st quarter. Defilade Capital Management L.P. now owns 678,589 shares of the company's stock valued at $15,601,000 after purchasing an additional 463,171 shares during the last quarter.

Evommune Company Profile

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.

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