Immunovant, Inc. (NASDAQ:IMVT) Receives $47.22 Average Price Target from Analysts

Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the eleven analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $47.00.

Several equities research analysts have issued reports on the company. Raymond James reissued an "outperform" rating and set a $36.00 target price on shares of Immunovant in a research note on Thursday, October 10th. Bank of America cut their price objective on Immunovant from $48.00 to $45.00 and set a "buy" rating for the company in a research report on Wednesday. Wolfe Research lowered shares of Immunovant from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. 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 note on Wednesday, October 9th. Finally, Wells Fargo & Company reduced 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.

Immunovant Price Performance

Shares of IMVT traded down $0.60 during mid-day trading on Monday, reaching $23.80. The stock had a trading volume of 1,767,842 shares, compared to its average volume of 1,052,904. Immunovant has a 52-week low of $22.41 and a 52-week high of $42.14. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of -10.72 and a beta of 0.66. The business's fifty day moving average is $26.65 and its 200 day moving average is $28.53.

Immunovant (NASDAQ:IMVT - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.15). During the same quarter last year, the firm earned ($0.45) EPS. As a group, sell-side analysts anticipate that Immunovant will post -2.75 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Eva Renee Barnett sold 4,105 shares of the company's stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $24.10, for a total transaction of $98,930.50. Following the sale, the chief financial officer now directly owns 327,064 shares in the company, valued at approximately $7,882,242.40. This represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sciences Ltd. Roivant bought 16,845,010 shares of Immunovant stock in a transaction that occurred on Monday, January 13th. The stock was purchased at an average cost of $20.00 per share, for a total transaction of $336,900,200.00. Following the acquisition, the director now owns 96,650,341 shares of the company's stock, valued at $1,933,006,820. This represents a 21.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 61,693 shares of company stock worth $1,586,625 in the last ninety days. 5.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Immunovant

A number of large investors have recently modified their holdings of the company. KBC Group NV lifted its position in shares of 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. Quest Partners LLC lifted its holdings in Immunovant by 216.7% during the 2nd quarter. Quest Partners LLC now owns 2,610 shares of the company's stock worth $69,000 after buying an additional 1,786 shares during the last quarter. Assetmark Inc. boosted its position in shares of Immunovant by 73.8% during the 3rd quarter. Assetmark Inc. now owns 2,891 shares of the company's stock worth $82,000 after acquiring an additional 1,228 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Immunovant in the 2nd quarter valued at about $77,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Immunovant by 21.4% during 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 in the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

About Immunovant

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.