Key Points
- Insider sale: Jeegar Pravinkumar Patel sold 16,687 shares of Evommune on June 1 at an average price of $22.74, reducing his direct holdings by 26.45%.
- Stock and earnings snapshot: Evommune shares were down 0.2% and opened at $19.78, while the company recently beat quarterly EPS estimates with a reported loss of $0.64 per share versus expectations of a $0.83 loss.
- Analyst sentiment remains upbeat: Wall Street currently has an average Buy rating on Evommune, with a consensus price target of $49.25, even as the stock trades well below several individual targets in the $48 to $55 range.
Evommune, Inc. (NYSE:EVMN - Get Free Report) Director David Cohen sold 6,056 shares of the company's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $20.33, for a total transaction of $123,118.48. Following the completion of the transaction, the director directly owned 17,609 shares of the company's stock, valued at $357,990.97. This represents a 25.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.
Evommune Price Performance
EVMN opened at $19.78 on Thursday. The firm's 50-day moving average is $23.98. Evommune, Inc. has a 52 week low of $13.89 and a 52 week high of $33.20. The company has a market cap of $712.62 million and a P/E ratio of -2.08.
Evommune (NYSE:EVMN - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.64) EPS for the quarter, beating the consensus estimate of ($0.83) by $0.19. As a group, analysts forecast that Evommune, Inc. will post -2.83 earnings per share for the current year.
Institutional Trading of Evommune
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. purchased a new stake in Evommune in the 4th quarter worth about $34,000. Strs Ohio purchased a new stake in Evommune in the 1st quarter worth about $41,000. The Manufacturers Life Insurance Company purchased a new stake in Evommune in the 4th quarter worth about $179,000. XTX Topco Ltd purchased a new stake in Evommune in the 4th quarter worth about $321,000. Finally, Oxford Asset Management LLP purchased a new stake in Evommune in the 4th quarter worth about $335,000.
Analyst Upgrades and Downgrades
Several research firms have commented on EVMN. Wall Street Zen raised shares of Evommune from a "sell" rating to a "hold" rating in a report on Sunday, May 10th. Clear Str upgraded shares of Evommune to a "strong-buy" rating in a research report on Tuesday, March 17th. Stifel Nicolaus initiated coverage on shares of Evommune in a research report on Friday, May 1st. They set a "buy" rating and a $54.00 target price on the stock. Royal Bank Of Canada restated an "outperform" rating and set a $48.00 target price on shares of Evommune in a research report on Friday, April 10th. Finally, Evercore restated an "outperform" rating and set a $55.00 target price on shares of Evommune in a research report on Tuesday, February 10th. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $49.25.
Read Our Latest Research Report on Evommune
About Evommune
(
Get Free Report)
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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