Immunovant (NASDAQ:IMVT) Hits New 12-Month Low - Time to Sell?

Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) shares reached a new 52-week low on Monday . The company traded as low as $16.90 and last traded at $17.22, with a volume of 178412 shares. The stock had previously closed at $18.37.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on IMVT. HC Wainwright reiterated a "buy" rating and issued a $51.00 price target on shares of Immunovant in a research report on Wednesday, March 19th. Guggenheim restated a "buy" rating on shares of Immunovant in a research report on Thursday, March 20th. Jefferies Financial Group began coverage on Immunovant in a report on Monday, March 3rd. They set a "hold" rating and a $20.00 target price on the stock. Cantor Fitzgerald upgraded Immunovant to a "strong-buy" rating in a report on Tuesday, March 4th. Finally, Wolfe Research lowered Immunovant from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $41.00.

Immunovant Price Performance

The business's 50-day moving average is $19.77 and its two-hundred day moving average is $24.88. The firm has a market cap of $2.48 billion, a P/E ratio of -5.56 and a beta of 0.81.

Immunovant (NASDAQ:IMVT - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.08). Equities research analysts predict that Immunovant, Inc. will post -2.69 EPS for the current year.

Insider Transactions at Immunovant

In other news, insider William L. Macias sold 2,383 shares of the business's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $23.83, for a total transaction of $56,786.89. Following the transaction, the insider now directly owns 359,408 shares in the company, valued at $8,564,692.64. The trade was a 0.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Jay S. Stout sold 2,195 shares of Immunovant stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $23.59, for a total value of $51,780.05. Following the transaction, the chief technology officer now owns 139,991 shares of the company's stock, valued at $3,302,387.69. The trade was a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,510 shares of company stock worth $813,686 in the last 90 days. Corporate insiders own 5.90% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. bought a new position in shares of Immunovant in the fourth quarter valued at about $76,000. Two Seas Capital LP grew its stake in 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 buying an additional 835,000 shares during the last quarter. Vestal Point Capital LP bought a new position in Immunovant in the 4th quarter valued at about $1,115,000. Twinbeech Capital LP acquired a new stake in Immunovant during the fourth quarter worth approximately $314,000. Finally, Two Sigma Advisers LP bought a new stake in shares of Immunovant during the fourth quarter worth approximately $270,000. 47.08% of the stock is owned by institutional investors and hedge funds.

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.