Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) saw strong trading volume on Wednesday . 1,466,258 shares changed hands during mid-day trading, an increase of 30% from the previous session's volume of 1,129,718 shares.The stock last traded at $15.85 and had previously closed at $15.20.
Analyst Ratings Changes
A number of research firms recently commented on IMVT. Guggenheim reaffirmed a "buy" rating on shares of Immunovant in a research note on Thursday, March 20th. HC Wainwright reiterated a "buy" rating and issued a $51.00 price target on shares of Immunovant in a report on Wednesday, March 19th. Wells Fargo & Company dropped their price objective on Immunovant from $47.00 to $45.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. Bank of America decreased their target price on Immunovant from $38.00 to $33.00 and set a "buy" rating for the company in a research report on Thursday, March 20th. Finally, Wolfe Research cut shares of Immunovant from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $41.00.
Check Out Our Latest Stock Report on Immunovant
Immunovant Price Performance
The company's fifty day moving average is $19.60 and its 200-day moving average is $24.71. The company has a market capitalization of $2.44 billion, a PE ratio of -5.49 and a beta of 0.81.
Immunovant (NASDAQ:IMVT - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.08). Equities research analysts forecast that Immunovant, Inc. will post -2.69 EPS for the current fiscal year.
Insider Activity
In other Immunovant news, Director Sciences Ltd. Roivant acquired 16,845,010 shares of the stock in a transaction dated Monday, January 13th. The stock was purchased at an average price of $20.00 per share, with a total value of $336,900,200.00. Following the transaction, the director now directly owns 96,650,341 shares of the company's stock, valued at $1,933,006,820. This trade represents a 21.11 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider William L. Macias sold 2,383 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $23.83, for a total value of $56,786.89. Following the completion of the sale, the insider now owns 359,408 shares of the company's stock, valued at approximately $8,564,692.64. This trade represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,510 shares of company stock worth $813,686. Corporate insiders own 5.90% of the company's stock.
Hedge Funds Weigh In On Immunovant
Several hedge funds have recently modified their holdings of IMVT. KBC Group NV grew its position in Immunovant by 60.1% during the 4th quarter. KBC Group NV now owns 3,099 shares of the company's stock worth $77,000 after purchasing an additional 1,163 shares during the last quarter. Rhumbline Advisers increased its position in shares of Immunovant by 1.5% in the 4th quarter. Rhumbline Advisers now owns 80,932 shares of the company's stock valued at $2,005,000 after acquiring an additional 1,188 shares during the period. Swiss National Bank raised its stake in Immunovant by 1.2% in the 4th quarter. Swiss National Bank now owns 100,800 shares of the company's stock worth $2,497,000 after acquiring an additional 1,200 shares during the last quarter. Tyro Capital Management LLC lifted its position in Immunovant by 0.6% during the 3rd quarter. Tyro Capital Management LLC now owns 252,149 shares of the company's stock worth $7,189,000 after acquiring an additional 1,529 shares during the period. Finally, Sei Investments Co. grew its stake in Immunovant by 4.0% during the 4th quarter. Sei Investments Co. now owns 40,456 shares of the company's stock valued at $1,002,000 after purchasing an additional 1,541 shares during the last quarter. Institutional investors and hedge funds own 47.08% of the company's stock.
About Immunovant
(
Get Free Report)
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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