Evommune (NYSE:EVMN) Trading Down 6.9% – Time to Sell?

Evommune, Inc. (NYSE:EVMN)’s share price dropped 6.9% on Thursday . The company traded as low as $14.37 and last traded at $13.9810. 12,789 shares were traded during trading, a decline of 98% from the average session volume of 630,046 shares. The stock had previously closed at $15.01.

Wall Street Analysts Forecast Growth

EVMN has been the topic of a number of research analyst reports. William Blair downgraded Evommune from an “outperform” rating to a “market perform” rating in a research report on Monday, June 29th. Wall Street Zen cut Evommune from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Weiss Ratings downgraded Evommune from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, June 29th. Stifel Nicolaus began coverage on Evommune in a report on Friday, May 1st. They set a “buy” rating and a $54.00 price objective on the stock. Finally, Raymond James Financial downgraded Evommune from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $43.25.

Evommune Stock Performance

The business’s fifty day moving average price is $15.01 and its two-hundred day moving average price is $20.91. The stock has a market capitalization of $486.31 million and a P/E ratio of -1.21.

Evommune (NYSE:EVMN) last announced its earnings results on Thursday, August 6th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.21). As a group, analysts forecast that Evommune, Inc. will post -3.16 earnings per share for the current year.

Insider Activity at Evommune

In other Evommune news, insider Jeegar Pravinkumar Patel sold 1,488 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $22.50, for a total transaction of $33,480.00. Following the sale, the insider directly owned 46,403 shares in the company, valued at $1,044,067.50. This represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Janice Suzann Drew sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $22.63, for a total value of $452,600.00. Following the completion of the sale, the insider directly owned 67,794 shares of the company’s stock, valued at $1,534,178.22. The trade was a 22.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 100,854 shares of company stock valued at $2,279,142 over the last ninety days. 31.10% of the stock is currently owned by company insiders.

Institutional Trading of Evommune

A number of institutional investors have recently bought and sold shares of the stock. Strs Ohio purchased a new position in Evommune during the first quarter worth $41,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Evommune in the fourth quarter valued at $34,000. The Manufacturers Life Insurance Company bought a new stake in shares of Evommune in the 4th quarter worth about $179,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Evommune by 25.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 12,812 shares of the company’s stock worth $295,000 after acquiring an additional 2,587 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Evommune during the 4th quarter worth about $321,000.

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.