896,700 Shares in Evommune, Inc. $EVMN Purchased by Janus Henderson Group PLC

Key Points

• Janus Henderson Group purchased 896,700 Evommune shares worth approximately $20.6 million, giving it a 2.49% stake in the biotech company.
• Analyst sentiment is generally positive, with Evommune holding a “Moderate Buy” consensus rating and an average price target of $45.62, despite recent target reductions.
• Evommune shares opened at $11.65, near their one-year low of $10.47, while the company remains unprofitable and insiders have sold approximately $2.28 million of stock over the past 90 days.

Janus Henderson Group PLC bought a new position in Evommune, Inc. (NYSE:EVMN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 896,700 shares of the company's stock, valued at approximately $20,615,000. Janus Henderson Group PLC owned 2.49% of Evommune as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Strs Ohio purchased a new stake in shares of Evommune in the first quarter worth about $41,000. China Universal Asset Management Co. Ltd. bought a new stake in Evommune during the 4th quarter worth approximately $34,000. The Manufacturers Life Insurance Company bought a new stake in Evommune during the 4th quarter worth approximately $179,000. XTX Topco Ltd purchased a new stake in Evommune in the 4th quarter worth approximately $321,000. Finally, Oxford Asset Management LLP purchased a new stake in Evommune in the 4th quarter worth approximately $335,000.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Oppenheimer began coverage on shares of Evommune in a research report on Tuesday, April 7th. They set an "outperform" rating and a $50.00 price target for the company. Weiss Ratings lowered Evommune from a "sell (d)" rating to a "sell (d-)" rating in a research note on Monday, June 29th. HC Wainwright restated a "neutral" rating on shares of Evommune in a research report on Monday. Morgan Stanley decreased their target price on Evommune from $55.00 to $26.00 and set an "overweight" rating on the stock in a research note on Tuesday, June 30th. Finally, Stifel Nicolaus started coverage on Evommune in a report on Friday, May 1st. They issued a "buy" rating and a $54.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Evommune presently has an average rating of "Moderate Buy" and an average price target of $45.62.

Evommune Price Performance

Shares of NYSE:EVMN opened at $11.65 on Tuesday. The company's fifty day moving average price is $16.78 and its 200-day moving average price is $21.34. The firm has a market capitalization of $419.71 million and a price-to-earnings ratio of -1.23. Evommune, Inc. has a one year low of $10.47 and a one year high of $33.20.

Evommune (NYSE:EVMN - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.64) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.83) by $0.19. As a group, equities research analysts expect that Evommune, Inc. will post -2.83 EPS for the current year.

Insider Activity

In other news, CEO Luis C. Pena sold 7,438 shares of the company's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $22.71, for a total value of $168,916.98. Following the completion of the transaction, the chief executive officer directly owned 630,458 shares in the company, valued at approximately $14,317,701.18. This represents a 1.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeegar Pravinkumar Patel sold 1,488 shares of the firm's stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $22.50, for a total value of $33,480.00. Following the transaction, the insider directly owned 46,403 shares in the company, valued at approximately $1,044,067.50. This represents a 3.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 100,854 shares of company stock valued at $2,279,142. 31.10% of the stock is owned by insiders.

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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