Immunovant (NASDAQ:IMVT - Free Report) had its price target cut by Bank of America from $38.00 to $33.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a buy rating on the stock.
IMVT has been the subject of several other research reports. Wolfe Research downgraded shares of Immunovant from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Wells Fargo & Company decreased their target price on shares of Immunovant from $47.00 to $45.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. Jefferies Financial Group began coverage on shares of Immunovant in a research report on Monday, March 3rd. They issued a "hold" rating and a $20.00 price target on the stock. HC Wainwright reissued a "buy" rating and set a $51.00 price objective on shares of Immunovant in a report on Wednesday, March 19th. Finally, Cantor Fitzgerald raised Immunovant to a "strong-buy" rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Immunovant currently has a consensus rating of "Buy" and an average target price of $41.70.
Read Our Latest Stock Analysis on Immunovant
Immunovant Stock Down 1.0 %
IMVT traded down $0.20 during midday trading on Thursday, hitting $19.44. The company had a trading volume of 1,572,870 shares, compared to its average volume of 1,079,432. The stock's 50 day moving average price is $20.80 and its 200 day moving average price is $25.54. Immunovant has a 52 week low of $17.01 and a 52 week high of $34.47. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of -7.42 and a beta of 0.68.
Immunovant (NASDAQ:IMVT - Get Free Report) last issued its earnings results on Monday, February 10th. The company reported ($0.76) EPS for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.08). Research analysts predict that Immunovant will post -2.69 EPS for the current year.
Insiders Place Their Bets
In related news, CEO Peter Salzmann sold 5,105 shares of Immunovant stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $24.10, for a total value of $123,030.50. Following the sale, the chief executive officer now owns 972,992 shares of the company's stock, valued at approximately $23,449,107.20. The trade was a 0.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider William L. Macias sold 2,383 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $23.83, for a total value of $56,786.89. Following the completion of the transaction, the insider now owns 359,408 shares in the company, valued at approximately $8,564,692.64. The trade was a 0.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,510 shares of company stock valued at $813,686. Insiders own 5.90% of the company's stock.
Institutional Trading of Immunovant
Several hedge funds have recently made changes to their positions in IMVT. Victory Capital Management Inc. raised its stake in Immunovant by 7.4% in the 3rd quarter. Victory Capital Management Inc. now owns 335,360 shares of the company's stock valued at $9,561,000 after acquiring an additional 22,990 shares during the period. KBC Group NV increased its stake in shares of Immunovant by 46.2% in the third quarter. KBC Group NV now owns 1,936 shares of the company's stock worth $55,000 after purchasing an additional 612 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Immunovant in the third quarter valued at approximately $517,000. Intech Investment Management LLC purchased a new stake in shares of Immunovant during the 3rd quarter valued at approximately $622,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Immunovant by 19.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 552,430 shares of the company's stock worth $15,750,000 after buying an additional 91,259 shares during the period. 47.08% of the stock is currently owned by institutional investors.
Immunovant Company Profile
(
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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.
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