Evommune (NYSE:EVMN) Stock Price Down 5.3% – Time to Sell?

Evommune, Inc. (NYSE:EVMN)’s stock price fell 5.3% during trading on Monday . The stock traded as low as $15.97 and last traded at $16.40. 55,864 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 322,079 shares. The stock had previously closed at $17.31.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on EVMN. Zacks Research upgraded Evommune to a “hold” rating in a research note on Tuesday, December 2nd. Leerink Partners began coverage on Evommune in a report on Monday, December 1st. They issued an “outperform” rating and a $42.00 price objective for the company. The Goldman Sachs Group raised shares of Evommune to a “buy” rating in a report on Wednesday, January 7th. Oppenheimer assumed coverage on Evommune in a research note on Thursday, January 22nd. They issued an “outperform” rating and a $42.00 target price on the stock. Finally, HC Wainwright began coverage on shares of Evommune in a research report on Tuesday, January 6th. They set a “buy” rating and a $35.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Evommune has a consensus rating of “Moderate Buy” and a consensus target price of $39.17.

Evommune Price Performance

The company has a market cap of $532.69 million and a P/E ratio of -2.09. The firm’s 50-day moving average is $18.50.

Evommune (NYSE:EVMN) last posted its earnings results on Thursday, December 11th. The company reported ($8.07) EPS for the quarter, missing analysts’ consensus estimates of ($6.58) by ($1.49). The business had revenue of $10.00 million during the quarter, compared to the consensus estimate of $10.00 million.

Institutional Trading of Evommune

Large investors have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Evommune during the fourth quarter worth about $34,000. Capricorn Fund Managers Ltd purchased a new position in Evommune during the fourth quarter worth approximately $1,027,000. Finally, Sectoral Asset Management Inc. acquired a new stake in shares of Evommune during the 4th quarter worth $10,084,000.

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.