Evommune (NYSE:EVMN) Shares Up 8.1% – Should You Buy?

Evommune, Inc. (NYSE:EVMN)’s stock price rose 8.1% during mid-day trading on Tuesday . The company traded as high as $24.38 and last traded at $24.3770. Approximately 278,388 shares traded hands during trading, a decline of 46% from the average daily volume of 512,941 shares. The stock had previously closed at $22.55.

Analysts Set New Price Targets

A number of research firms have commented on EVMN. Stifel Nicolaus assumed coverage on shares of Evommune in a research report on Friday, May 1st. They issued a “buy” rating and a $54.00 target price on the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a $48.00 price target on shares of Evommune in a research report on Friday, April 10th. Oppenheimer assumed coverage on shares of Evommune in a research note on Tuesday, April 7th. They issued an “outperform” rating and a $50.00 price target on the stock. 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, HC Wainwright reaffirmed a “buy” rating and set a $50.00 price objective on shares of Evommune in a research report on Tuesday, May 26th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $49.25.

Evommune Stock Performance

The company has a 50 day moving average of $23.07 and a 200-day moving average of $22.28. The stock has a market cap of $847.59 million and a price-to-earnings ratio of -2.48.

Evommune (NYSE:EVMN) last announced its earnings results on Thursday, May 7th. The company reported ($0.64) EPS for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.19. On average, research analysts anticipate that Evommune, Inc. will post -2.85 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Luis C. Pena sold 16,787 shares of Evommune stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $22.74, for a total value of $381,736.38. Following the completion of the transaction, the chief executive officer owned 637,896 shares in the company, valued at approximately $14,505,755.04. The trade was a 2.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kyle Carver sold 18,175 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $22.84, for a total transaction of $415,117.00. Following the sale, the chief financial officer directly owned 59,335 shares in the company, valued at approximately $1,355,211.40. The trade was a 23.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 100,854 shares of company stock valued at $2,279,142.

Institutional Trading of Evommune

A number of large investors have recently modified their holdings of the stock. Capricorn Fund Managers Ltd acquired a new stake in shares of Evommune in the fourth quarter valued at $1,027,000. China Universal Asset Management Co. Ltd. purchased a new stake in Evommune during the 4th quarter worth about $34,000. Sectoral Asset Management Inc. purchased a new stake in Evommune during the 4th quarter worth about $10,084,000. Geode Capital Management LLC acquired a new stake in Evommune in the 4th quarter valued at about $1,881,000. Finally, Seven Grand Managers LLC acquired a new stake in Evommune in the 4th quarter valued at about $1,284,000.

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.