Immunovant (NASDAQ:IMVT) Coverage Initiated by Analysts at Jefferies Financial Group

Research analysts at Jefferies Financial Group assumed coverage on shares of Immunovant (NASDAQ:IMVT - Get Free Report) in a research report issued on Monday, Marketbeat Ratings reports. The firm set a "hold" rating and a $20.00 price target on the stock. Jefferies Financial Group's price objective would suggest a potential upside of 2.46% from the company's current price.

Several other research firms have also issued reports on IMVT. Wolfe Research lowered shares of Immunovant from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Wells Fargo & Company reduced their price objective on shares of Immunovant from $47.00 to $45.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. Guggenheim dropped their target price on shares of Immunovant from $46.00 to $44.00 and set a "buy" rating on the stock in a research report on Monday, February 10th. HC Wainwright reaffirmed a "buy" rating and issued a $51.00 target price on shares of Immunovant in a report on Friday, February 7th. Finally, Bank of America decreased their price target on Immunovant from $48.00 to $45.00 and set a "buy" rating for the company in a research report on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $43.55.

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Immunovant Trading Up 0.5 %

NASDAQ IMVT traded up $0.10 during trading hours on Monday, hitting $19.52. The company's stock had a trading volume of 783,994 shares, compared to its average volume of 1,249,367. The company has a market capitalization of $3.32 billion, a PE ratio of -7.45 and a beta of 0.68. Immunovant has a 52 week low of $17.65 and a 52 week high of $35.97. The company's 50-day simple moving average is $22.06 and its two-hundred day simple moving average is $26.68.

Immunovant (NASDAQ:IMVT - Get Free Report) last posted 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 anticipate that Immunovant will post -2.69 EPS for the current fiscal year.

Insider Transactions at Immunovant

In other Immunovant news, CTO Jay S. Stout sold 2,195 shares of the firm's stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $23.59, for a total transaction of $51,780.05. Following the sale, the chief technology officer now directly owns 139,991 shares of the company's stock, valued at $3,302,387.69. This trade represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Peter Salzmann sold 5,105 shares of Immunovant stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $24.10, for a total value of $123,030.50. Following the sale, the chief executive officer now directly owns 972,992 shares in the company, valued at $23,449,107.20. This trade represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,510 shares of company stock worth $656,886 in the last quarter. Company insiders own 5.90% of the company's stock.

Hedge Funds Weigh In On Immunovant

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its stake in Immunovant by 19.6% during the third quarter. FMR LLC now owns 12,537,571 shares of the company's stock valued at $357,446,000 after purchasing an additional 2,053,688 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Immunovant by 53.6% in 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 buying an additional 1,786,217 shares during the last quarter. Deep Track Capital LP increased its holdings 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 worth $148,620,000 after buying an additional 1,652,536 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Immunovant by 405.3% during the 4th quarter. JPMorgan Chase & Co. now owns 1,153,338 shares of the company's stock valued at $28,568,000 after buying an additional 925,081 shares in the last quarter. Finally, Two Seas Capital LP lifted its holdings in shares of Immunovant by 123.4% in the 4th quarter. Two Seas Capital LP now owns 1,511,614 shares of the company's stock valued at $37,443,000 after acquiring an additional 835,000 shares during the last quarter. 47.08% of the stock is owned by institutional investors.

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.