Immunovant (NASDAQ:IMVT) Sets New 1-Year Low - Should You Sell?

Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) reached a new 52-week low during trading on Monday . The company traded as low as $13.59 and last traded at $13.74, with a volume of 84038 shares changing hands. The stock had previously closed at $14.58.

Analysts Set New Price Targets

IMVT has been the subject of several research analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $51.00 target price on shares of Immunovant in a research note on Wednesday, March 19th. Jefferies Financial Group began coverage on shares of Immunovant in a report on Monday, March 3rd. They issued a "hold" rating and a $20.00 target price for the company. Bank of America cut their target price on Immunovant from $38.00 to $33.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. Guggenheim restated a "buy" rating on shares of Immunovant in a research report on Thursday, March 20th. Finally, Wolfe Research downgraded Immunovant from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $41.00.

Immunovant Stock Performance

The company has a 50 day moving average of $18.57 and a 200 day moving average of $24.06. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of -5.60 and a beta of 0.81.

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Immunovant (NASDAQ:IMVT - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The company reported ($0.76) EPS for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.08). As a group, research analysts expect that Immunovant, Inc. will post -2.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other Immunovant news, CEO Peter Salzmann sold 28,094 shares of the firm's stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $12.99, for a total value of $364,941.06. Following the sale, the chief executive officer now directly owns 1,186,512 shares in the company, valued at $15,412,790.88. This trade represents a 2.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew J. Fromkin sold 8,000 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $19.60, for a total value of $156,800.00. Following the transaction, the director now directly owns 91,913 shares of the company's stock, valued at approximately $1,801,494.80. This represents a 8.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,394 shares of company stock worth $956,666 in the last 90 days. Corporate insiders own 5.90% of the company's stock.

Institutional Trading of Immunovant

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IMVT. FMR LLC boosted its holdings in shares of Immunovant by 4.5% in the 4th quarter. FMR LLC now owns 13,097,915 shares of the company's stock valued at $324,435,000 after buying an additional 560,344 shares in the last quarter. Vanguard Group Inc. lifted its position in Immunovant by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,679,414 shares of the company's stock valued at $165,449,000 after acquiring an additional 20,614 shares during the last quarter. Deep Track Capital LP boosted its stake in Immunovant by 38.0% in the fourth quarter. Deep Track Capital LP now owns 6,000,000 shares of the company's stock valued at $148,620,000 after acquiring an additional 1,652,536 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Immunovant by 53.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,117,234 shares of the company's stock worth $126,754,000 after purchasing an additional 1,786,217 shares during the last quarter. Finally, State Street Corp increased its position in shares of Immunovant by 11.2% during the third quarter. State Street Corp now owns 3,022,342 shares of the company's stock worth $86,167,000 after purchasing an additional 303,386 shares in the last quarter. Institutional investors and hedge funds own 47.08% of the company's stock.

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.