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

Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) has been given an average recommendation of "Moderate Buy" by the ten brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $47.22.

A number of equities analysts recently commented on IMVT shares. Wolfe Research cut shares of Immunovant from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Raymond James reissued an "outperform" rating and issued a $36.00 target price on shares of Immunovant in a research note on Thursday, October 10th. 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 report on Thursday, December 19th. Oppenheimer lifted their price target on Immunovant from $47.00 to $53.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 9th. Finally, HC Wainwright reissued a "buy" rating and set a $51.00 price objective on shares of Immunovant in a research note on Friday, November 8th.

Immunovant Trading Down 3.2 %

Shares of Immunovant stock opened at $22.72 on Monday. The business's 50-day moving average price is $27.07 and its 200-day moving average price is $28.61. The firm has a market capitalization of $3.33 billion, a PE ratio of -10.23 and a beta of 0.66. Immunovant has a 12 month low of $22.72 and a 12 month high of $42.44.

Immunovant (NASDAQ:IMVT - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.74) EPS for the quarter, missing analysts' consensus estimates of ($0.59) by ($0.15). During the same quarter last year, the company posted ($0.45) EPS. As a group, analysts predict that Immunovant will post -2.73 earnings per share for the current fiscal year.

Insider Activity at Immunovant

In related news, insider William L. Macias sold 3,188 shares of the firm's stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $28.79, for a total transaction of $91,782.52. Following the completion of the transaction, the insider now owns 365,144 shares of the company's stock, valued at $10,512,495.76. This trade represents a 0.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Eva Renee Barnett sold 3,271 shares of Immunovant stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $28.79, for a total value of $94,172.09. Following the transaction, the chief financial officer now owns 335,343 shares of the company's stock, valued at $9,654,524.97. The trade was a 0.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 77,247 shares of company stock worth $2,034,425 over the last 90 days. 5.90% of the stock is owned by company insiders.

Institutional Trading of Immunovant

Several institutional investors have recently bought and sold shares of the company. FMR LLC increased its holdings in Immunovant by 19.6% in the 3rd quarter. FMR LLC now owns 12,537,571 shares of the company's stock worth $357,446,000 after buying an additional 2,053,688 shares in the last quarter. Armistice Capital LLC grew its position in Immunovant by 57.0% in the 2nd quarter. Armistice Capital LLC now owns 3,396,909 shares of the company's stock worth $89,678,000 after purchasing an additional 1,232,909 shares during the period. Baker BROS. Advisors LP increased its position in shares of Immunovant by 163.7% during the 3rd quarter. Baker BROS. Advisors LP now owns 1,225,410 shares of the company's stock valued at $34,936,000 after purchasing an additional 760,692 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Immunovant by 69.9% during 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 in the last quarter. Finally, State Street Corp raised its position 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 valued at $86,167,000 after purchasing an additional 303,386 shares during the period. 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.