Sofinnova Investments Inc. Acquires Shares of 153,320 Evommune, Inc. $EVMN

Sofinnova Investments Inc. acquired a new stake in Evommune, Inc. (NYSE:EVMN) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 153,320 shares of the company’s stock, valued at approximately $2,625,000. Sofinnova Investments Inc. owned approximately 0.49% of Evommune as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Evommune during the fourth quarter worth approximately $34,000. The Manufacturers Life Insurance Company acquired a new position in Evommune in the fourth quarter worth $179,000. State Street Corp acquired a new position in Evommune in the fourth quarter worth $539,000. TD Asset Management Inc bought a new stake in Evommune in the fourth quarter valued at $764,000. Finally, Capricorn Fund Managers Ltd bought a new stake in Evommune in the fourth quarter valued at $1,027,000.

Insider Activity at Evommune

In other Evommune news, CEO Luis C. Pena sold 16,787 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 transaction of $381,736.38. Following the transaction, the chief executive officer owned 637,896 shares of the company’s stock, valued at $14,505,755.04. The trade was a 2.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David E. Cohen sold 6,056 shares of Evommune stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $20.33, for a total value of $123,118.48. Following the transaction, the director directly owned 17,609 shares in the company, valued at approximately $357,990.97. This trade represents a 25.59% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 71,928 shares of company stock worth $1,624,145.

Evommune Trading Up 4.2%

Shares of EVMN opened at $20.66 on Tuesday. The business’s 50-day moving average price is $23.61 and its 200 day moving average price is $22.22. The stock has a market capitalization of $744.25 million and a P/E ratio of -2.17. Evommune, Inc. has a 1-year low of $13.89 and a 1-year high of $33.20.

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. On average, research analysts predict that Evommune, Inc. will post -2.85 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on EVMN. Wall Street Zen cut Evommune from a “hold” rating to a “sell” rating in a research note on Saturday. Morgan Stanley lifted their price objective on shares of Evommune from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Royal Bank Of Canada restated an “outperform” rating and set a $48.00 price objective on shares of Evommune in a research note on Friday, April 10th. Stifel Nicolaus assumed coverage on shares of Evommune in a research note on Friday, May 1st. They set a “buy” rating and a $54.00 price objective on the stock. Finally, Clear Str upgraded shares of Evommune to a “strong-buy” rating in a research note on Tuesday, March 17th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Evommune has an average rating of “Buy” and a consensus target price of $49.25.

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.