Immunovant, Inc. (NASDAQ:IMVT) Receives $41.00 Consensus Target Price from Brokerages

Shares of Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) have received an average recommendation of "Buy" from the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $41.00.

Several brokerages have issued reports on IMVT. Wells Fargo & Company dropped their target price on 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 Immunovant in a research note on Monday, March 3rd. They issued a "hold" rating and a $20.00 target price on the stock. Bank of America lowered their target price on shares of Immunovant from $38.00 to $33.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. Wolfe Research downgraded shares of Immunovant from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Finally, Guggenheim reiterated a "buy" rating on shares of Immunovant in a report on Thursday, March 20th.

Immunovant Trading Up 4.8 %

Shares of NASDAQ IMVT traded up $0.73 during trading hours on Friday, hitting $15.93. 1,466,258 shares of the company traded hands, compared to its average volume of 1,128,862. The company's 50 day moving average price is $20.06 and its 200 day moving average price is $25.00. Immunovant has a 12 month low of $14.96 and a 12 month high of $34.47. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of -6.08 and a beta of 0.68.

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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 the consensus estimate of ($0.68) by ($0.08). Equities analysts anticipate that Immunovant will post -2.69 EPS for the current year.

Insider Activity

In other Immunovant news, CEO Peter Salzmann sold 5,105 shares of the business's 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 transaction, the chief executive officer now directly owns 972,992 shares in the company, valued at approximately $23,449,107.20. The trade was a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider William L. Macias sold 2,383 shares of Immunovant stock in a transaction that occurred 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 completion of the transaction, the insider now directly 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. In the last three months, insiders have sold 35,510 shares of company stock worth $813,686. 5.90% of the stock is currently owned by company insiders.

Institutional Trading of Immunovant

A number of institutional investors have recently made changes to their positions in the business. FMR LLC raised its stake in Immunovant by 4.5% in the fourth quarter. FMR LLC now owns 13,097,915 shares of the company's stock valued at $324,435,000 after buying an additional 560,344 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Immunovant by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,679,414 shares of the company's stock valued at $165,449,000 after purchasing an additional 20,614 shares during the last quarter. Deep Track Capital LP raised its position in shares of Immunovant by 38.0% in the 4th quarter. Deep Track Capital LP now owns 6,000,000 shares of the company's stock valued at $148,620,000 after purchasing an additional 1,652,536 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in Immunovant by 53.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,117,234 shares of the company's stock worth $126,754,000 after purchasing an additional 1,786,217 shares during the last quarter. Finally, State Street Corp increased its stake in Immunovant by 11.2% during the 3rd quarter. State Street Corp now owns 3,022,342 shares of the company's stock valued at $86,167,000 after purchasing an additional 303,386 shares in the last quarter. 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.