Immunovant (NASDAQ:IMVT - Free Report) had its price target trimmed by Bank of America from $48.00 to $45.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.
Several other research analysts have also weighed in on the company. Raymond James reiterated an "outperform" rating and issued a $36.00 price objective on shares of Immunovant in a research report on Thursday, October 10th. Wolfe Research cut Immunovant from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. 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. HC Wainwright restated a "buy" rating and issued a $51.00 price objective on shares of Immunovant in a report on Friday, November 8th. Finally, Oppenheimer raised their price target on Immunovant from $47.00 to $53.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $47.00.
View Our Latest Analysis on Immunovant
Immunovant Stock Performance
Shares of IMVT stock traded down $0.60 on Wednesday, hitting $23.80. 1,767,842 shares of the stock traded hands, compared to its average volume of 1,052,904. Immunovant has a twelve month low of $22.41 and a twelve month high of $42.14. The stock has a market capitalization of $3.49 billion, a PE ratio of -10.72 and a beta of 0.66. The firm's 50-day moving average price is $26.65 and its two-hundred day moving average price is $28.53.
Immunovant (NASDAQ:IMVT - Get Free Report) last posted its 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 in the prior year, the business posted ($0.45) EPS. On average, equities research analysts anticipate that Immunovant will post -2.75 EPS for the current fiscal year.
Insider Activity
In other news, CFO Eva Renee Barnett sold 4,174 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $25.45, for a total value of $106,228.30. Following the transaction, the chief financial officer now owns 331,169 shares in the company, valued at approximately $8,428,251.05. This represents a 1.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Peter Salzmann sold 16,692 shares of the company's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $25.45, for a total value of $424,811.40. Following the completion of the transaction, the chief executive officer now directly owns 978,097 shares of the company's stock, valued at $24,892,568.65. This trade represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,693 shares of company stock worth $1,586,625. 5.90% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Immunovant
Several large investors have recently bought and sold shares of the stock. KBC Group NV lifted its holdings in shares of Immunovant by 46.2% in the 3rd quarter. KBC Group NV now owns 1,936 shares of the company's stock valued at $55,000 after purchasing an additional 612 shares during the last quarter. Quest Partners LLC increased its position in Immunovant by 216.7% during the second 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 period. Assetmark Inc. lifted its stake in Immunovant by 73.8% in 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. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Immunovant by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company's stock valued at $148,000 after acquiring an additional 934 shares during the period. Finally, Bank Pictet & Cie Europe AG purchased a new position in shares of Immunovant during the third quarter worth approximately $261,000. Institutional investors and hedge funds own 47.08% of the company's stock.
About Immunovant
(
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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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