Luis Pena Sells 16,787 Shares of Evommune (NYSE:EVMN) Stock

Evommune, Inc. (NYSE:EVMN) CEO Luis Pena sold 16,787 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $22.74, for a total transaction of $381,736.38. Following the sale, the chief executive officer owned 637,896 shares of the company’s stock, valued at approximately $14,505,755.04. The trade was a 2.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Evommune Trading Up 5.3%

EVMN stock opened at $20.78 on Friday. Evommune, Inc. has a 1-year low of $13.89 and a 1-year high of $33.20. The company’s fifty day simple moving average is $23.97. The company has a market capitalization of $748.57 million and a price-to-earnings ratio of -2.19.

Evommune (NYSE:EVMN) last released its earnings results on Thursday, May 7th. The company reported ($0.64) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.19. As a group, equities research analysts predict that Evommune, Inc. will post -2.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

EVMN has been the subject of several recent research reports. Wall Street Zen upgraded shares of Evommune from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. 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 price target for the company. Clear Str upgraded shares of Evommune to a “strong-buy” rating in a research report on Tuesday, March 17th. HC Wainwright restated a “buy” rating and set a $50.00 price target on shares of Evommune in a research report on Tuesday, May 26th. Finally, Oppenheimer initiated 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. Three investment 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $49.25.

Hedge Funds Weigh In On Evommune

Several institutional investors have recently modified their holdings of EVMN. EQT Fund Management S.a r.l. acquired a new stake in Evommune in the fourth quarter worth about $84,395,000. RA Capital Management L.P. acquired a new stake in Evommune in the fourth quarter worth about $59,214,000. Pivotal bioVenture Partners Investment Advisor LLC acquired a new stake in Evommune in the fourth quarter worth about $32,989,000. Nan Fung Group Holdings Ltd acquired a new stake in Evommune in the fourth quarter worth about $24,670,000. Finally, JPMorgan Chase & Co. acquired a new stake in Evommune in the fourth quarter worth about $22,408,000.

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.