Evommune (NYSE:EVMN) Posts Quarterly Earnings Results, Misses Expectations By $0.21 EPS

Evommune (NYSE:EVMN) issued its quarterly earnings results on Thursday. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.21), FiscalAI reports.

Evommune Trading Up 3.7%

Shares of Evommune stock traded up $0.49 during trading hours on Thursday, reaching $13.51. The stock had a trading volume of 941,356 shares, compared to its average volume of 627,420. Evommune has a twelve month low of $10.47 and a twelve month high of $33.20. The stock’s 50 day moving average is $16.17 and its 200 day moving average is $21.21.

Insider Buying and Selling

In other news, insider Jeegar Pravinkumar Patel sold 16,687 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $22.74, for a total transaction of $379,462.38. Following the completion of the sale, the insider owned 46,403 shares of the company’s stock, valued at $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 is available at this link. Also, insider Janice Suzann Drew sold 20,000 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $22.63, for a total transaction of $452,600.00. Following the transaction, the insider owned 67,794 shares of the company’s stock, valued at approximately $1,534,178.22. This trade represents a 22.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 100,854 shares of company stock worth $2,279,142 in the last ninety days. 31.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Evommune

Several hedge funds and other institutional investors have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. purchased a new position in Evommune in the 4th quarter valued at $34,000. Sectoral Asset Management Inc. acquired a new stake in shares of Evommune in the fourth quarter valued at about $10,084,000. Geode Capital Management LLC acquired a new stake in shares of Evommune in the fourth quarter valued at about $1,881,000. Seven Grand Managers LLC purchased a new position in shares of Evommune in the fourth quarter worth about $1,284,000. Finally, Goldman Sachs Group Inc. acquired a new position in Evommune during the fourth quarter worth about $1,056,000.

Analysts Set New Price Targets

A number of brokerages have issued reports on EVMN. Royal Bank Of Canada reiterated an “outperform” rating and issued a $48.00 price target on shares of Evommune in a report on Friday, April 10th. HC Wainwright reissued a “neutral” rating on shares of Evommune in a research note on Monday. Weiss Ratings downgraded Evommune from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, June 29th. Stifel Nicolaus began coverage on shares of Evommune in a report on Friday, May 1st. They issued a “buy” rating and a $54.00 price target on the stock. Finally, Morgan Stanley reduced their target price on shares of Evommune from $55.00 to $26.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Evommune presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.62.

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.