Perceptive Advisors LLC Purchases New Shares in Evommune, Inc. $EVMN

Perceptive Advisors LLC acquired a new position in shares of Evommune, Inc. (NYSE:EVMN) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 448,350 shares of the company’s stock, valued at approximately $10,308,000.

A number of other institutional investors also recently bought and sold shares of EVMN. EQT Fund Management S.a r.l. acquired a new stake in Evommune during the 4th quarter worth approximately $84,395,000. RA Capital Management L.P. acquired a new stake in shares of Evommune in the fourth quarter valued at about $59,214,000. Pivotal bioVenture Partners Investment Advisor LLC purchased a new position in Evommune in the fourth quarter valued at about $32,989,000. Nan Fung Group Holdings Ltd purchased a new position in Evommune in the fourth quarter valued at about $24,670,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Evommune during the 4th quarter valued at approximately $22,408,000.

Evommune Price Performance

EVMN stock opened at $11.23 on Friday. The company’s 50 day simple moving average is $17.00 and its 200-day simple moving average is $21.41. Evommune, Inc. has a 12 month low of $10.47 and a 12 month high of $33.20. The firm has a market capitalization of $404.66 million and a PE ratio of -1.18.

Evommune (NYSE:EVMN) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.64) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.83) by $0.19. As a group, sell-side analysts anticipate that Evommune, Inc. will post -2.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EVMN. William Blair cut Evommune from an “outperform” rating to a “market perform” rating in a report on Monday, June 29th. Morgan Stanley reduced their price objective on Evommune from $55.00 to $26.00 and set an “overweight” rating for the company in a report on Tuesday, June 30th. Wall Street Zen downgraded Evommune from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Royal Bank Of Canada reissued an “outperform” rating and issued a $48.00 target price on shares of Evommune in a report on Friday, April 10th. Finally, Stifel Nicolaus assumed coverage on Evommune in a research report on Friday, May 1st. They issued a “buy” rating and a $54.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.62.

Insider Buying and Selling

In related news, insider Janice Suzann Drew sold 20,000 shares of Evommune stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $22.63, for a total transaction of $452,600.00. Following the completion of the sale, the insider owned 67,794 shares in the company, valued at approximately $1,534,178.22. This trade represents a 22.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jeegar Pravinkumar Patel sold 16,687 shares of Evommune stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $22.74, for a total value of $379,462.38. Following the sale, the insider owned 46,403 shares of the company’s stock, valued at approximately $1,055,204.22. This represents a 26.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 100,854 shares of company stock valued at $2,279,142. Company insiders own 31.10% of the company’s stock.

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.