Evommune (NYSE:EVMN) Trading Down 6.9% – What’s Next?

Evommune, Inc. (NYSE:EVMN)’s stock price fell 6.9% during mid-day trading on Tuesday . The company traded as low as $17.93 and last traded at $18.23. 43,298 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 317,692 shares. The stock had previously closed at $19.58.

Wall Street Analysts Forecast Growth

EVMN has been the topic of a number of recent analyst reports. HC Wainwright assumed coverage on shares of Evommune in a research report on Tuesday, January 6th. They issued a “buy” rating and a $35.00 price target on the stock. Raymond James Financial assumed coverage on shares of Evommune in a report on Wednesday, January 7th. They issued a “strong-buy” rating and a $40.00 target price on the stock. William Blair started coverage on shares of Evommune in a report on Monday, December 1st. They set an “outperform” rating for the company. The Goldman Sachs Group raised Evommune to a “buy” rating in a research report on Wednesday, January 7th. Finally, Evercore ISI assumed coverage on Evommune in a research note on Monday, December 1st. They set an “outperform” rating and a $40.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $39.17.

Evommune Stock Performance

The firm has a market capitalization of $600.53 million and a PE ratio of -2.36. The stock’s fifty day simple moving average is $18.54.

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

Institutional Trading of Evommune

An institutional investor recently bought a new position in Evommune stock. Capricorn Fund Managers Ltd acquired a new position in shares of Evommune, Inc. (NYSE:EVMN) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 60,000 shares of the company’s stock, valued at approximately $1,027,000. Capricorn Fund Managers Ltd owned approximately 0.19% of Evommune at the end of the most recent reporting period.

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.