Eversept Partners LP Makes New $1.26 Million Investment in Evommune, Inc. $EVMN

Eversept Partners LP bought a new position in Evommune, Inc. (NYSE:EVMN) in the 1st quarter, Holdings Channel.com reports. The fund bought 54,680 shares of the company’s stock, valued at approximately $1,257,000.

A number of other institutional investors have also modified their holdings of EVMN. Strs Ohio bought a new position in shares of Evommune during the first quarter worth about $41,000. China Universal Asset Management Co. Ltd. bought a new stake in Evommune in the fourth quarter valued at about $34,000. The Manufacturers Life Insurance Company raised its stake in Evommune by 25.3% during the first quarter. The Manufacturers Life Insurance Company now owns 12,812 shares of the company’s stock valued at $295,000 after buying an additional 2,587 shares in the last quarter. XTX Topco Ltd acquired a new stake in Evommune during the fourth quarter valued at approximately $321,000. Finally, Oxford Asset Management LLP bought a new position in Evommune during the 4th quarter worth approximately $335,000.

Insider Transactions at Evommune

In related news, Director David E. Cohen sold 6,056 shares of the 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 sale, the director owned 17,609 shares of the company’s stock, valued at $357,990.97. This trade represents a 25.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arthur S. Kirsch acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was purchased at an average price of $13.30 per share, for a total transaction of $133,000.00. Following the completion of the transaction, the director owned 10,000 shares in the company, valued at $133,000. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 100,854 shares of company stock valued at $2,279,142 over the last three months. 31.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

EVMN has been the subject of a number of research analyst reports. HC Wainwright downgraded Evommune from a “buy” rating to a “neutral” rating in a report on Tuesday, June 30th. Raymond James Financial cut Evommune from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, June 29th. Morgan Stanley decreased their price objective on shares of Evommune from $55.00 to $26.00 and set an “overweight” rating for the company in a report on Tuesday, June 30th. Oppenheimer assumed coverage on shares of Evommune in a research note on Tuesday, April 7th. They set an “outperform” rating and a $50.00 target price for the company. Finally, William Blair cut shares of Evommune from an “outperform” rating to a “market perform” rating in a report on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.62.

Evommune Stock Up 0.8%

Shares of EVMN stock opened at $11.45 on Tuesday. The company has a market cap of $412.36 million and a P/E ratio of -1.21. The business has a 50 day moving average of $17.90 and a two-hundred day moving average of $21.63. Evommune, Inc. has a 52 week low of $10.47 and a 52 week high of $33.20.

Evommune (NYSE:EVMN) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.64) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.19. Analysts expect that Evommune, Inc. will post -2.83 EPS for the current fiscal year.

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.