Immunovant's (IMVT) "Neutral" Rating Reiterated at UBS Group

Immunovant (NASDAQ:IMVT - Get Free Report)'s stock had its "neutral" rating reaffirmed by stock analysts at UBS Group in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $17.00 price objective on the stock, down from their previous price objective of $38.00. UBS Group's price target points to a potential upside of 17.57% from the stock's previous close.

Other equities research analysts have also issued research reports about the stock. Guggenheim reissued a "buy" rating on shares of Immunovant in a research note on Thursday, March 20th. Bank of America reduced their price objective on Immunovant from $38.00 to $33.00 and set a "buy" rating for the company in a research report on Thursday, March 20th. Cantor Fitzgerald raised Immunovant to a "strong-buy" rating in a report on Tuesday, March 4th. HC Wainwright reaffirmed a "buy" rating and issued a $51.00 price target on shares of Immunovant in a research report on Wednesday, March 19th. Finally, Wolfe Research downgraded shares of Immunovant from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $38.33.

Immunovant Stock Performance

Immunovant stock opened at $14.46 on Tuesday. Immunovant has a fifty-two week low of $12.72 and a fifty-two week high of $34.47. The stock's 50 day simple moving average is $17.96 and its two-hundred day simple moving average is $23.45. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of -5.52 and a beta of 0.81.

Immunovant (NASDAQ:IMVT - Get Free Report) last issued its quarterly 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). On average, analysts predict that Immunovant will post -2.69 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Peter Salzmann sold 8,321 shares of the company's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $14.89, for a total transaction of $123,899.69. Following the completion of the sale, the chief executive officer now owns 1,178,191 shares in the company, valued at approximately $17,543,263.99. This represents a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Geffner sold 2,657 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $23.59, for a total value of $62,678.63. Following the completion of the transaction, the insider now directly owns 132,314 shares in the company, valued at approximately $3,121,287.26. This represents a 1.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,260 shares of company stock valued at $804,665. Company insiders own 5.90% of the company's stock.

Institutional Trading of Immunovant

Several large investors have recently added to or reduced their stakes in IMVT. FMR LLC grew its position in shares of Immunovant by 4.5% during the 4th quarter. FMR LLC now owns 13,097,915 shares of the company's stock valued at $324,435,000 after acquiring an additional 560,344 shares during the period. Vanguard Group Inc. raised its stake in shares of Immunovant by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,679,414 shares of the company's stock worth $165,449,000 after buying an additional 20,614 shares during the period. Deep Track Capital LP lifted its position in shares of Immunovant by 38.0% during the 4th quarter. Deep Track Capital LP now owns 6,000,000 shares of the company's stock valued at $148,620,000 after buying an additional 1,652,536 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Immunovant by 53.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,117,234 shares of the company's stock valued at $126,754,000 after acquiring an additional 1,786,217 shares during the period. Finally, Alpine Global Management LLC raised its stake in Immunovant by 14.7% during the 4th quarter. Alpine Global Management LLC now owns 2,158,904 shares of the company's stock worth $53,476,000 after acquiring an additional 276,200 shares during the period. 47.08% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.