153,320 Shares in Evommune, Inc. $EVMN Acquired by Sofinnova Investments Inc.

Sofinnova Investments Inc. bought a new position in Evommune, Inc. (NYSE:EVMN) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 153,320 shares of the company’s stock, valued at approximately $2,625,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EVMN. EQT Fund Management S.a r.l. acquired a new stake in Evommune in the 4th quarter worth approximately $84,395,000. Pivotal bioVenture Partners Investment Advisor LLC acquired a new stake in Evommune in the 4th quarter worth approximately $32,989,000. Nan Fung Group Holdings Ltd acquired a new stake in Evommune in the 4th quarter worth approximately $24,670,000. JPMorgan Chase & Co. acquired a new stake in Evommune in the 4th quarter worth approximately $22,408,000. Finally, SymBiosis Capital Partners LLC acquired a new stake in Evommune in the 4th quarter worth approximately $21,927,000.

Evommune Trading Up 4.2%

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

Evommune (NYSE:EVMN) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.64) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.19. Equities analysts forecast that Evommune, Inc. will post -2.85 earnings per share for the current fiscal year.

Insider Transactions at Evommune

In other Evommune news, insider Jeegar Pravinkumar Patel sold 16,687 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $22.74, for a total value of $379,462.38. Following the transaction, the insider owned 46,403 shares of the company’s stock, valued at approximately $1,055,204.22. The trade was a 26.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kyle Carver sold 18,175 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $22.84, for a total value of $415,117.00. Following the completion of the transaction, the chief financial officer directly owned 59,335 shares in the company, valued at approximately $1,355,211.40. This represents a 23.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 71,928 shares of company stock valued at $1,624,145.

Wall Street Analyst Weigh In

EVMN has been the subject of a number of research analyst reports. Stifel Nicolaus initiated coverage on Evommune in a report on Friday, May 1st. They set a “buy” rating and a $54.00 price target for the company. Wall Street Zen lowered Evommune from a “hold” rating to a “sell” rating in a report on Saturday. Oppenheimer initiated coverage on Evommune in a report on Tuesday, April 7th. They set an “outperform” rating and a $50.00 price target for the company. Royal Bank Of Canada reiterated an “outperform” rating and set a $48.00 price target on shares of Evommune in a report on Friday, April 10th. Finally, Morgan Stanley upped their price target on Evommune from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $49.25.

Evommune 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.