EQT Fund Management S.a r.l. Buys New Stake in Evommune, Inc. $EVMN

EQT Fund Management S.a r.l. bought a new stake in Evommune, Inc. (NYSE:EVMN) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,929,633 shares of the company’s stock, valued at approximately $84,395,000. Evommune makes up about 7.6% of EQT Fund Management S.a r.l.’s investment portfolio, making the stock its 4th biggest holding. EQT Fund Management S.a r.l. owned 0.16% of Evommune at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. purchased a new position in shares of Evommune in the fourth quarter valued at $34,000. TD Asset Management Inc purchased a new position in shares of Evommune in the fourth quarter valued at $764,000. Capricorn Fund Managers Ltd purchased a new position in shares of Evommune in the fourth quarter valued at $1,027,000. Goldman Sachs Group Inc. purchased a new position in shares of Evommune in the fourth quarter valued at $1,056,000. Finally, Seven Grand Managers LLC purchased a new position in shares of Evommune in the fourth quarter valued at $1,284,000.

Insider Buying and Selling at Evommune

In other news, CFO Kyle Carver sold 18,175 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer owned 59,335 shares in the company, valued at approximately $1,355,211.40. This trade represents a 23.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Gregory S. Moss sold 14,223 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $22.83, for a total value of $324,711.09. Following the transaction, the insider owned 60,835 shares in the company, valued at approximately $1,388,863.05. This represents a 18.95% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 71,928 shares of company stock valued at $1,624,145.

Evommune Trading Down 0.1%

NYSE:EVMN opened at $20.47 on Thursday. Evommune, Inc. has a twelve month low of $13.89 and a twelve month high of $33.20. The company has a market cap of $737.26 million and a price-to-earnings ratio of -2.15. The stock has a fifty day simple moving average of $23.77 and a 200-day simple moving average of $22.19.

Evommune (NYSE:EVMN) last released its earnings results on Thursday, May 7th. The company reported ($0.64) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.19. As a group, equities research analysts predict that Evommune, Inc. will post -2.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EVMN. Royal Bank Of Canada reissued an “outperform” rating and issued a $48.00 target price on shares of Evommune in a report on Friday, April 10th. Stifel Nicolaus started coverage on Evommune in a research report on Friday, May 1st. They issued a “buy” rating and a $54.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $50.00 price target on shares of Evommune in a research report on Tuesday, May 26th. Morgan Stanley raised their price target on Evommune from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Finally, Oppenheimer started coverage on Evommune in a research report on Tuesday, April 7th. They issued an “outperform” rating and a $50.00 price target for the company. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Evommune presently has an average rating of “Buy” and a consensus target price of $49.25.

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.