Evommune (NYSE:EVMN) Stock Moved Down to Strong Sell by Wall Street Zen

Wall Street Zen downgraded shares of Evommune (NYSE:EVMN) from a sell rating to a strong sell rating in a report issued on Saturday,Wall Street Zen reports.

A number of other equities analysts have also weighed in on the stock. Raymond James Financial set a $18.00 target price on shares of Evommune in a research report on Wednesday, September 9th. Needham & Company LLC reduced their price target on shares of Evommune from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Friday. Leerink Partners reduced their price target on shares of Evommune from $28.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday, September 9th. Weiss Ratings cut shares of Evommune from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, September 11th. Finally, Royal Bank Of Canada dropped their price objective on shares of Evommune from $29.00 to $21.00 and set an “outperform” rating for the company 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.50.

Evommune Stock Down 4.6%

EVMN stock traded down $0.37 during midday trading on Friday, hitting $7.65. The company’s stock had a trading volume of 723,350 shares, compared to its average volume of 980,729. Evommune has a 12 month low of $4.94 and a 12 month high of $33.20. The firm has a market capitalization of $277.58 million and a price-to-earnings ratio of -2.01. The company has a 50 day moving average of $7.56 and a two-hundred day moving average of $17.11.

Evommune (NYSE:EVMN) last announced its quarterly earnings data on Thursday, November 12th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.03). On average, analysts anticipate that Evommune will post -3.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Evommune

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP purchased a new position in shares of Evommune in the 3rd quarter worth approximately $634,000. Alps Advisors Inc. increased its position in shares of Evommune by 30.6% during the 3rd quarter. Alps Advisors Inc. now owns 47,737 shares of the company’s stock valued at $394,000 after purchasing an additional 11,179 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Evommune during the 2nd quarter valued at approximately $634,000. Velan Capital Investment Management LP increased its position in shares of Evommune by 1.1% during the 2nd quarter. Velan Capital Investment Management LP now owns 451,255 shares of the company’s stock valued at $5,997,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Evommune during the 2nd quarter valued at $340,000.

About Evommune

Evommune is a clinical-stage biotechnology company developing therapies for chronic inflammatory diseases. Founded in 2020, the company focuses on biological pathways involved in inflammation and aims to develop treatments for conditions with significant unmet medical needs. Its pipeline includes EVO756, an oral investigational medicine designed to block MRGPRX2, a receptor involved in mast-cell activation. The candidate is being studied for inflammatory skin disorders, including chronic spontaneous urticaria and atopic dermatitis.