Immunovant (NASDAQ:IMVT - Get Free Report)'s stock had its "buy" rating restated by stock analysts at Guggenheim in a note issued to investors on Thursday,Benzinga reports.
Several other research firms have also recently weighed in on IMVT. Jefferies Financial Group initiated coverage on shares of Immunovant in a research report on Monday, March 3rd. They issued a "hold" rating and a $20.00 price objective for the company. Cantor Fitzgerald raised shares of Immunovant to a "strong-buy" rating in a report on Tuesday, March 4th. HC Wainwright reissued a "buy" rating and set a $51.00 price objective on shares of Immunovant in a report on Wednesday, March 19th. Wolfe Research cut shares of Immunovant from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company decreased their price objective on Immunovant from $47.00 to $45.00 and set an "overweight" rating for the company in a research note on Thursday, December 19th. One analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Immunovant presently has an average rating of "Buy" and an average target price of $41.70.
Read Our Latest Analysis on IMVT
Immunovant Trading Down 1.0 %
NASDAQ IMVT traded down $0.20 during trading hours on Thursday, reaching $19.44. 1,572,870 shares of the company's stock were exchanged, compared to its average volume of 1,079,432. The firm has a fifty day moving average of $20.80 and a 200-day moving average of $25.54. Immunovant has a one year low of $17.01 and a one year high of $34.47. The stock has a market cap of $3.30 billion, a PE ratio of -7.42 and a beta of 0.68.
Immunovant (NASDAQ:IMVT - Get Free Report) last announced its earnings results on Monday, February 10th. The company reported ($0.76) earnings per share for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.08). As a group, research analysts forecast that Immunovant will post -2.69 EPS for the current year.
Insider Buying and Selling
In other Immunovant news, CTO Jay S. Stout sold 2,195 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $23.59, for a total value of $51,780.05. Following the completion of the sale, the chief technology officer now directly owns 139,991 shares in the company, valued at $3,302,387.69. This represents a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew J. Fromkin sold 8,000 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $19.60, for a total value of $156,800.00. Following the sale, the director now directly owns 91,913 shares in the company, valued at approximately $1,801,494.80. This represents a 8.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,510 shares of company stock valued at $813,686. 5.90% of the stock is owned by company insiders.
Hedge Funds Weigh In On Immunovant
A number of large investors have recently bought and sold shares of IMVT. Victory Capital Management Inc. raised its holdings in shares of Immunovant by 7.4% in the third quarter. Victory Capital Management Inc. now owns 335,360 shares of the company's stock valued at $9,561,000 after purchasing an additional 22,990 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Immunovant by 19.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 552,430 shares of the company's stock valued at $15,750,000 after purchasing an additional 91,259 shares in the last quarter. Principal Financial Group Inc. increased its stake in Immunovant by 69.9% in the 3rd quarter. Principal Financial Group Inc. now owns 951,124 shares of the company's stock valued at $27,117,000 after buying an additional 391,436 shares during the last quarter. ABC Arbitrage SA bought a new stake in Immunovant during the 4th quarter worth about $734,000. Finally, State Street Corp boosted its stake in shares of Immunovant by 11.2% during the 3rd quarter. State Street Corp now owns 3,022,342 shares of the company's stock worth $86,167,000 after buying an additional 303,386 shares during the last quarter. Institutional investors and hedge funds own 47.08% of the company's stock.
Immunovant Company Profile
(
Get Free Report)
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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