Monashee Investment Management LLC Invests $3.14 Million in Evommune, Inc. $EVMN

Monashee Investment Management LLC purchased a new position in Evommune, Inc. (NYSE:EVMN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 183,239 shares of the company’s stock, valued at approximately $3,137,000. Evommune accounts for 1.8% of Monashee Investment Management LLC’s holdings, making the stock its 21st biggest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of EVMN. EQT Fund Management S.a r.l. purchased a new stake in shares of Evommune in the fourth quarter worth approximately $84,395,000. JPMorgan Chase & Co. purchased a new stake in shares of Evommune in the fourth quarter worth approximately $22,408,000. Sectoral Asset Management Inc. purchased a new position in Evommune during the 4th quarter worth $10,084,000. Geode Capital Management LLC purchased a new position in Evommune during the 4th quarter worth $1,881,000. Finally, Seven Grand Managers LLC purchased a new position in Evommune during the 4th quarter worth $1,284,000.

Insiders Place Their Bets

In other news, insider Gregory S. Moss sold 14,223 shares of Evommune stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $22.83, for a total value of $324,711.09. Following the transaction, the insider directly owned 60,835 shares in the company, valued at approximately $1,388,863.05. This trade represents a 18.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kyle Carver sold 18,175 shares of Evommune stock in a transaction on Thursday, May 28th. The shares were 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 owned 59,335 shares in the company, valued at $1,355,211.40. This represents a 23.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 71,928 shares of company stock worth $1,624,145.

Analyst Upgrades and Downgrades

Several research analysts have commented on EVMN shares. Morgan Stanley raised their price objective on Evommune from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Clear Str upgraded Evommune to a “strong-buy” rating in a report on Tuesday, March 17th. Oppenheimer started coverage on Evommune in a report on Tuesday, April 7th. They set an “outperform” rating and a $50.00 price objective on the stock. Wall Street Zen upgraded Evommune from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $48.00 price objective on shares of Evommune in a report on Friday, April 10th. Three investment 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 given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $49.25.

Evommune Trading Up 1.0%

Shares of NYSE:EVMN opened at $20.69 on Friday. Evommune, Inc. has a 12-month low of $13.89 and a 12-month high of $33.20. The business’s fifty day simple moving average is $23.72 and its 200-day simple moving average is $22.20. The company has a market capitalization of $745.11 million and a PE ratio of -2.18.

Evommune (NYSE:EVMN) last announced its quarterly earnings results 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. Research analysts predict that Evommune, Inc. will post -2.86 EPS for the current year.

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.