Immunovant (NASDAQ:IMVT) Price Target Lowered to $45.00 at Bank of America

Immunovant (NASDAQ:IMVT - Free Report) had its price objective decreased by Bank of America from $48.00 to $45.00 in a research report released on Wednesday,Benzinga reports. Bank of America currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the stock. Oppenheimer increased their target price on shares of Immunovant from $47.00 to $53.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 9th. Wells Fargo & Company dropped their price target on shares of Immunovant from $47.00 to $45.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. Wolfe Research lowered shares of Immunovant from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. HC Wainwright restated a "buy" rating and set a $51.00 target price on shares of Immunovant in a research report on Friday, November 8th. Finally, Raymond James reiterated an "outperform" rating and issued a $36.00 price target on shares of Immunovant in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $47.00.

Immunovant Price Performance

Shares of Immunovant stock traded up $1.65 on Wednesday, reaching $24.53. 612,524 shares of the company traded hands, compared to its average volume of 836,997. The company has a 50 day moving average of $26.79 and a 200 day moving average of $28.56. Immunovant has a 52 week low of $22.41 and a 52 week high of $42.44. The firm has a market capitalization of $3.60 billion, a PE ratio of -11.05 and a beta of 0.66.

Immunovant (NASDAQ:IMVT - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.59) by ($0.15). During the same period last year, the firm earned ($0.45) earnings per share. As a group, analysts anticipate that Immunovant will post -2.73 earnings per share for the current year.

Insider Transactions at Immunovant

In other Immunovant news, insider Mark S. Levine sold 4,361 shares of Immunovant stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $29.53, for a total transaction of $128,780.33. Following the completion of the sale, the insider now owns 322,878 shares of the company's stock, valued at $9,534,587.34. The trade was a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Peter Salzmann sold 16,692 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $25.45, for a total value of $424,811.40. Following the transaction, the chief executive officer now owns 978,097 shares in the company, valued at $24,892,568.65. This trade represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,693 shares of company stock valued at $1,586,625. 5.90% of the stock is owned by corporate insiders.

Institutional Trading of Immunovant

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. lifted its holdings in shares of Immunovant by 69.9% in the 3rd quarter. Principal Financial Group Inc. now owns 951,124 shares of the company's stock worth $27,117,000 after acquiring an additional 391,436 shares during the last quarter. Tyro Capital Management LLC raised its position in Immunovant by 0.6% in the 3rd quarter. Tyro Capital Management LLC now owns 252,149 shares of the company's stock worth $7,189,000 after purchasing an additional 1,529 shares during the period. Geode Capital Management LLC lifted its stake in Immunovant by 6.9% in the third quarter. Geode Capital Management LLC now owns 1,510,926 shares of the company's stock worth $43,085,000 after purchasing an additional 96,924 shares during the last quarter. State Street Corp boosted its position in Immunovant by 11.2% during the third quarter. State Street Corp now owns 3,022,342 shares of the company's stock valued at $86,167,000 after buying an additional 303,386 shares during the period. Finally, Baker BROS. Advisors LP grew its stake in shares of Immunovant by 163.7% during the third quarter. Baker BROS. Advisors LP now owns 1,225,410 shares of the company's stock valued at $34,936,000 after buying an additional 760,692 shares during the last quarter. Hedge funds and other institutional investors own 47.08% of the company's stock.

Immunovant Company Profile

Immunovant, Inc, a clinical-stage biopharmaceutical company, develops monoclonal antibodies for the treatment of autoimmune diseases. It develops batoclimab, a novel fully human monoclonal antibody that target the neonatal fragment crystallizable receptor for the treatment of myasthenia gravis, thyroid eye disease, chronic inflammatory demyelinating polyneuropathy, and Graves diseases, as well as warm autoimmune hemolytic anemia.