Perceptive Advisors LLC Buys Shares of 448,350 Evommune, Inc. $EVMN

Key Points

• Perceptive Advisors initiated a position of 448,350 Evommune shares valued at approximately $10.3 million, representing 1.24% ownership. Several other institutional investors also recently established positions.
• Evommune shares opened at $11.23, near their 52-week low of $10.47 and well below the 50-day and 200-day moving averages. The company remains unprofitable but beat quarterly EPS expectations, reporting a loss of $0.64 versus the estimated $0.83 loss.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and a $45.62 price target, although insiders sold 100,854 shares worth about $2.28 million over the past 90 days.

Perceptive Advisors LLC bought a new position in shares of Evommune, Inc. (NYSE:EVMN - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 448,350 shares of the company's stock, valued at approximately $10,308,000. Perceptive Advisors LLC owned 1.24% of Evommune at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Evommune in the 4th quarter valued at approximately $34,000. Strs Ohio purchased a new position in shares of Evommune during the 1st quarter worth approximately $41,000. The Manufacturers Life Insurance Company purchased a new position in shares of Evommune during the 4th quarter worth approximately $179,000. XTX Topco Ltd acquired a new stake in Evommune in the 4th quarter valued at approximately $321,000. Finally, Oxford Asset Management LLP purchased a new stake in Evommune in the fourth quarter valued at approximately $335,000.

Insider Buying and Selling at Evommune

In related news, insider Janice Suzann Drew sold 20,000 shares of the business's stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $22.63, for a total transaction of $452,600.00. Following the completion of the transaction, the insider owned 67,794 shares in the company, valued at approximately $1,534,178.22. The trade was a 22.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gregory S. Moss sold 14,223 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $22.83, for a total value of $324,711.09. Following the completion of the transaction, the insider directly owned 60,835 shares in the company, valued at $1,388,863.05. This trade represents a 18.95% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 100,854 shares of company stock valued at $2,279,142. 31.10% of the stock is currently owned by company insiders.

Evommune Stock Down 1.0%

NYSE:EVMN opened at $11.23 on Friday. The company has a fifty day simple moving average of $17.00 and a two-hundred day simple moving average of $21.41. The company has a market cap of $404.66 million and a price-to-earnings ratio of -1.18. Evommune, Inc. has a 52 week low of $10.47 and a 52 week 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 for the quarter, topping analysts' consensus estimates of ($0.83) by $0.19. On average, analysts expect that Evommune, Inc. will post -2.83 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on EVMN shares. Oppenheimer began coverage on Evommune in a research note on Tuesday, April 7th. They set an "outperform" rating and a $50.00 price target on the stock. Raymond James Financial downgraded Evommune from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, June 29th. Stifel Nicolaus initiated coverage on Evommune in a research note on Friday, May 1st. They set a "buy" rating and a $54.00 target price on the stock. Wall Street Zen cut Evommune from a "hold" rating to a "sell" rating in a report on Saturday, June 13th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $48.00 price target on shares of Evommune in a research note on Friday, April 10th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.62.

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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