Immunovant, Inc. (NASDAQ:IMVT) Receives Average Recommendation of "Moderate Buy" from Analysts

Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the thirteen brokerages that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $43.55.

Several equities research analysts have issued reports on IMVT shares. Guggenheim lowered their price objective on shares of Immunovant from $46.00 to $44.00 and set a "buy" rating for the company in a research report on Monday, February 10th. Jefferies Financial Group started coverage on Immunovant in a report on Monday. They issued a "hold" rating and a $20.00 price target for the company. Bank of America reduced their price objective on Immunovant from $48.00 to $45.00 and set a "buy" rating on the stock in a report on Wednesday, January 15th. Wolfe Research cut Immunovant from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. Finally, Wells Fargo & Company cut their price target on Immunovant from $47.00 to $45.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th.

Immunovant Price Performance

Shares of IMVT traded up $0.50 during mid-day trading on Tuesday, reaching $20.02. 921,311 shares of the company's stock traded hands, compared to its average volume of 1,242,393. The stock's 50-day moving average is $21.94 and its two-hundred day moving average is $26.63. Immunovant has a 12 month low of $17.65 and a 12 month high of $35.97. The stock has a market cap of $3.40 billion, a P/E ratio of -7.64 and a beta of 0.68.

Remove Ads

Immunovant (NASDAQ:IMVT - Get Free Report) last released 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). Research analysts predict that Immunovant will post -2.69 earnings per share for the current year.

Insider Transactions at Immunovant

In related news, insider William L. Macias sold 2,383 shares of the business's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $23.83, for a total transaction of $56,786.89. Following the transaction, the insider now directly owns 359,408 shares in the company, valued at $8,564,692.64. The trade was a 0.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Peter Salzmann sold 5,105 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $24.10, for a total value of $123,030.50. Following the completion of the sale, the chief executive officer now owns 972,992 shares of the company's stock, valued at approximately $23,449,107.20. This trade represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,510 shares of company stock valued at $656,886 in the last 90 days. Insiders own 5.90% of the company's stock.

Hedge Funds Weigh In On Immunovant

Several hedge funds have recently modified their holdings of IMVT. KBC Group NV grew its position in Immunovant by 46.2% during the 3rd quarter. KBC Group NV now owns 1,936 shares of the company's stock worth $55,000 after purchasing an additional 612 shares during the last quarter. Assetmark Inc. grew its holdings in shares of Immunovant by 73.8% during the third quarter. Assetmark Inc. now owns 2,891 shares of the company's stock valued at $82,000 after buying an additional 1,228 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Immunovant in the 4th quarter valued at $76,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Immunovant by 21.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company's stock worth $148,000 after acquiring an additional 934 shares during the last quarter. Finally, Ameriprise Financial Inc. purchased a new position in Immunovant in the 4th quarter worth $221,000. Institutional investors and hedge funds 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.