Evommune (NYSE:EVMN) Stock Price Down 7.2% - Here's Why

Key Points

• Evommune shares fell about 7.2% on Friday to roughly $26.59, trading as low as $26.50 on markedly lighter volume (102,319 shares vs. a 601,327 average).
• The company reported an EPS miss for the quarter (loss of $1.43 vs. consensus -$0.82), a likely catalyst for the weakness in the stock.
• Despite the pullback, analysts maintain a generally positive view — the average rating is Buy with a $48.43 target — and several large institutions disclosed sizable new stakes in Q4.

Evommune, Inc. (NYSE:EVMN - Get Free Report)'s share price fell 7.2% during trading on Friday . The company traded as low as $26.50 and last traded at $26.59. 102,319 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 601,327 shares. The stock had previously closed at $28.65.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Evercore reiterated an "outperform" rating and set a $55.00 target price on shares of Evommune in a report on Tuesday, February 10th. Clear Str upgraded Evommune to a "strong-buy" rating in a report on Tuesday, March 17th. The Goldman Sachs Group upgraded Evommune to a "buy" rating in a report on Wednesday, January 7th. Morgan Stanley reiterated an "overweight" rating and set a $54.00 target price on shares of Evommune in a report on Wednesday, February 18th. Finally, HC Wainwright dropped their target price on Evommune from $65.00 to $50.00 and set a "buy" rating on the stock in a report on Wednesday, March 18th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $48.43.

Evommune Trading Down 8.4%

The company has a market cap of $945.11 million and a price-to-earnings ratio of -3.23. The stock has a fifty day moving average price of $24.54.

Evommune (NYSE:EVMN - Get Free Report) last released its quarterly earnings data on Thursday, March 5th. The company reported ($1.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.61).

Institutional Trading of Evommune

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

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