Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $15.15, but opened at $14.63. Immunovant shares last traded at $14.80, with a volume of 210,362 shares traded.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on the company. HC Wainwright restated a "buy" rating and issued a $51.00 price objective on shares of Immunovant in a research report on Wednesday, March 19th. Wolfe Research cut Immunovant from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. Guggenheim reissued a "buy" rating on shares of Immunovant in a research note on Thursday, March 20th. UBS Group reaffirmed a "neutral" rating and set a $17.00 price target (down from $38.00) on shares of Immunovant in a report on Tuesday. Finally, Jefferies Financial Group began coverage on shares of Immunovant in a research report on Monday, March 3rd. They set a "hold" rating and a $20.00 price target for the company. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Immunovant presently has a consensus rating of "Moderate Buy" and an average price target of $38.33.
Read Our Latest Analysis on Immunovant
Immunovant Price Performance
The company has a market cap of $2.51 billion, a PE ratio of -5.63 and a beta of 0.81. The stock has a fifty day moving average price of $17.73 and a 200-day moving average price of $23.32.
Immunovant (NASDAQ:IMVT - Get Free Report) last posted its quarterly 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). On average, equities analysts anticipate that Immunovant, Inc. will post -2.69 earnings per share for the current year.
Insider Activity at Immunovant
In other Immunovant news, CFO Eva Renee Barnett sold 2,993 shares of the stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $14.89, for a total value of $44,565.77. Following the completion of the sale, the chief financial officer now directly owns 396,774 shares in the company, valued at $5,907,964.86. This represents a 0.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Peter Salzmann sold 28,094 shares of the company's stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $12.99, for a total transaction of $364,941.06. Following the completion of the transaction, the chief executive officer now owns 1,186,512 shares in the company, valued at approximately $15,412,790.88. This represents a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,408 shares of company stock worth $690,207. 5.90% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Immunovant
Hedge funds have recently bought and sold shares of the stock. KBC Group NV increased its stake in shares of Immunovant by 60.1% during the fourth 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 period. Rhumbline Advisers raised its holdings in 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 in the last quarter. Swiss National Bank raised its stake in Immunovant by 1.2% in the fourth quarter. Swiss National Bank now owns 100,800 shares of the company's stock valued at $2,497,000 after purchasing an additional 1,200 shares in the last quarter. Tyro Capital Management LLC boosted its position in Immunovant by 0.6% in the third quarter. Tyro Capital Management LLC now owns 252,149 shares of the company's stock valued at $7,189,000 after buying an additional 1,529 shares in the last quarter. Finally, Sei Investments Co. grew its stake in shares of Immunovant by 4.0% during the fourth quarter. Sei Investments Co. now owns 40,456 shares of the company's stock worth $1,002,000 after buying an additional 1,541 shares during the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.
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.
Further Reading
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