Immunovant (NASDAQ:IMVT) Posts Earnings Results, Misses Expectations By $0.15 EPS

Immunovant (NASDAQ:IMVT - Get Free Report) released its earnings results on Thursday. The company reported ($0.74) earnings per share for the quarter, missing analysts' consensus estimates of ($0.59) by ($0.15), Briefing.com reports. During the same period in the previous year, the firm posted ($0.45) EPS.

Immunovant Stock Performance

Shares of NASDAQ:IMVT traded up $0.72 on Friday, hitting $30.65. The stock had a trading volume of 683,138 shares, compared to its average volume of 713,532. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of -15.88 and a beta of 0.66. Immunovant has a twelve month low of $24.67 and a twelve month high of $45.58. The firm's 50 day moving average price is $29.76 and its 200-day moving average price is $28.97.

Insider Activity at Immunovant

In other Immunovant news, insider Mark S. Levine sold 4,361 shares of the company's stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $29.53, for a total transaction of $128,780.33. Following the transaction, the insider now directly owns 322,878 shares in the company, valued at approximately $9,534,587.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Mark S. Levine sold 4,361 shares of the company's stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $29.53, for a total value of $128,780.33. Following the completion of the sale, the insider now owns 322,878 shares in the company, valued at $9,534,587.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider William L. Macias sold 3,188 shares of Immunovant stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $28.79, for a total value of $91,782.52. Following the transaction, the insider now owns 365,144 shares in the company, valued at $10,512,495.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,277 shares of company stock valued at $941,919 over the last ninety days. 5.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on IMVT shares. Oppenheimer lifted their price target on Immunovant from $47.00 to $53.00 and gave the company an "outperform" rating in a research note on Wednesday, October 9th. UBS Group dropped their target price on shares of Immunovant from $42.00 to $41.00 and set a "buy" rating on the stock in a report on Tuesday, August 13th. JPMorgan Chase & Co. reduced their price target on shares of Immunovant from $51.00 to $46.00 and set an "overweight" rating for the company in a research note on Thursday, August 8th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Immunovant in a research note on Monday, September 9th. Finally, HC Wainwright reissued a "buy" rating and set a $51.00 target price on shares of Immunovant in a report on Friday. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, Immunovant currently has an average rating of "Buy" and an average target price of $48.10.

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.