Immunovant (NASDAQ:IMVT) Rating Increased to Strong-Buy at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Immunovant (NASDAQ:IMVT - Free Report) to a strong-buy rating in a research note issued to investors on Tuesday morning,Zacks.com reports. Cantor Fitzgerald also issued estimates for Immunovant's FY2025 earnings at ($1.88) EPS and FY2026 earnings at ($2.92) EPS.

A number of other brokerages have also issued reports on IMVT. Guggenheim lowered their target price on shares of Immunovant from $46.00 to $44.00 and set a "buy" rating on the stock in a research report on Monday, February 10th. HC Wainwright reissued a "buy" rating and set a $51.00 price target on shares of Immunovant in a report on Friday, February 7th. Wells Fargo & Company decreased their price target on Immunovant from $47.00 to $45.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. Wolfe Research cut Immunovant from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Finally, Jefferies Financial Group initiated coverage on Immunovant in a research note on Monday, March 3rd. They issued a "hold" rating and a $20.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $43.55.

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Immunovant Stock Performance

NASDAQ IMVT traded up $0.50 during trading hours on Tuesday, hitting $20.02. The company had a trading volume of 921,311 shares, compared to its average volume of 1,242,393. The business has a 50 day moving average of $21.85 and a 200-day moving average of $26.52. The company has a market cap of $3.40 billion, a PE ratio of -7.64 and a beta of 0.68. Immunovant has a 1-year low of $17.65 and a 1-year high of $35.97.

Immunovant (NASDAQ:IMVT - Get Free Report) last posted its earnings results 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). Sell-side analysts expect that Immunovant will post -2.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Peter Salzmann sold 5,105 shares of the business's stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $24.10, for a total value of $123,030.50. Following the completion of the transaction, the chief executive officer now owns 972,992 shares of the company's stock, valued at approximately $23,449,107.20. The trade was a 0.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Eva Renee Barnett sold 4,105 shares of the company's stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $24.10, for a total transaction of $98,930.50. Following the completion of the transaction, the chief financial officer now owns 327,064 shares in the company, valued at approximately $7,882,242.40. This trade represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,510 shares of company stock worth $656,886 in the last ninety days. Insiders own 5.90% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. KBC Group NV grew its position in shares of Immunovant by 46.2% in the third quarter. KBC Group NV now owns 1,936 shares of the company's stock valued at $55,000 after purchasing an additional 612 shares during the period. GF Fund Management CO. LTD. acquired a new stake in Immunovant in the 4th quarter worth about $76,000. Assetmark Inc. grew its holdings in Immunovant by 73.8% in the 3rd quarter. Assetmark Inc. now owns 2,891 shares of the company's stock valued at $82,000 after buying an additional 1,228 shares during the period. Ameriprise Financial Inc. acquired a new position in shares of Immunovant during the 4th quarter valued at about $221,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Immunovant during the 4th quarter worth about $268,000. 47.08% of the stock is currently 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.