Jeegar Pravinkumar Patel Sells 1,488 Shares of Evommune (NYSE:EVMN) Stock

Evommune, Inc. (NYSE:EVMN) insider Jeegar Pravinkumar Patel sold 1,488 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $22.50, for a total transaction of $33,480.00. Following the completion of the sale, the insider directly owned 46,403 shares in the company, valued at approximately $1,044,067.50. This represents a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Jeegar Pravinkumar Patel also recently made the following trade(s):

• On Monday, June 1st, Jeegar Pravinkumar Patel sold 16,687 shares of Evommune stock. The stock was sold at an average price of $22.74, for a total value of $379,462.38.

Evommune Stock Performance

Shares of EVMN opened at $24.00 on Friday. The firm has a market cap of $864.43 million and a PE ratio of -2.53. Evommune, Inc. has a 52-week low of $13.89 and a 52-week high of $33.20. The business’s 50 day moving average price is $23.02 and its two-hundred day moving average price is $22.29.

Evommune (NYSE:EVMN) last released its quarterly earnings data 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. Research analysts predict that Evommune, Inc. will post -2.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Wall Street Zen downgraded Evommune from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Clear Str upgraded Evommune to a “strong-buy” rating in a report on Tuesday, March 17th. Stifel Nicolaus started coverage on shares of Evommune in a research note on Friday, May 1st. They set a “buy” rating and a $54.00 price target for the company. Morgan Stanley upped their price objective on shares of Evommune from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $48.00 price objective on shares of Evommune in a report on Friday, April 10th. 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, Evommune has a consensus rating of “Buy” and a consensus target price of $49.25.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. purchased a new position in Evommune during the 4th quarter worth $34,000. Strs Ohio purchased a new stake in shares of Evommune in the first quarter valued at about $41,000. The Manufacturers Life Insurance Company bought a new position in shares of Evommune during the fourth quarter valued at about $179,000. XTX Topco Ltd purchased a new position in Evommune during the fourth quarter worth about $321,000. Finally, Oxford Asset Management LLP bought a new stake in Evommune in the 4th quarter worth about $335,000.

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.