Evommune (NYSE:EVMN) Stock Price Crosses Above Fifty Day Moving Average – Should You Sell?

Shares of Evommune, Inc. (NYSE:EVMN) passed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $7.81 and traded as high as $8.09. Evommune shares last traded at $7.8750, with a volume of 843,159 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. UBS Group began coverage on shares of Evommune in a report on Sunday, October 11th. They issued a “neutral” rating and a $8.00 price objective for the company. Needham & Company LLC assumed coverage on Evommune in a report on Wednesday, August 26th. They set a “buy” rating and a $28.00 target price on the stock. Royal Bank Of Canada reduced their price target on Evommune from $29.00 to $21.00 and set an “outperform” rating for the company in a research report on Wednesday, September 9th. Morgan Stanley assumed coverage on Evommune in a research note on Tuesday, October 20th. They set an “overweight” rating and a $26.00 price target for the company. Finally, HC Wainwright reissued a “neutral” rating on shares of Evommune in a report on Wednesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Evommune has a consensus rating of “Moderate Buy” and a consensus price target of $30.80.

Evommune Price Performance

The company has a market cap of $285.78 million and a price-to-earnings ratio of -0.71. The firm has a fifty day simple moving average of $7.81 and a 200 day simple moving average of $17.28.

Institutional Trading of Evommune

Several large investors have recently modified their holdings of the company. Janus Henderson Group PLC acquired a new position in Evommune in the 1st quarter valued at $20,615,000. Defilade Capital Management L.P. raised its holdings in Evommune by 215.0% in the 1st quarter. Defilade Capital Management L.P. now owns 678,589 shares of the company’s stock worth $15,601,000 after acquiring an additional 463,171 shares during the period. Perceptive Advisors LLC bought a new position in Evommune in the 1st quarter worth $10,308,000. Stempoint Capital LP raised its holdings in Evommune by 184.1% in the 1st quarter. Stempoint Capital LP now owns 193,777 shares of the company’s stock worth $4,385,000 after acquiring an additional 125,581 shares during the period. Finally, Eversept Partners LP acquired a new position in Evommune during the 1st quarter worth $1,257,000.

About Evommune

Evommune, Inc. is a clinical-stage biopharmaceutical company focused on developing novel therapies for immune-mediated inflammatory diseases. The company’s research is aimed at modulating dysregulated immune pathways that contribute to chronic inflammation, with the goal of developing treatments that may address significant unmet medical needs. Evommune is advancing a pipeline of investigational small-molecule and biologic therapies for inflammatory conditions. Its development programs are focused primarily on diseases affecting the skin and other tissues, including conditions such as atopic dermatitis and related immune-mediated disorders.