Brokerages Set Immunovant, Inc. (NASDAQ:IMVT) Price Target at $48.10

Shares of Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) have received a consensus rating of "Buy" from the eleven analysts that are currently covering the stock, Marketbeat reports. Eleven investment analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $48.10.

Several analysts have commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of Immunovant from $51.00 to $46.00 and set an "overweight" rating for the company in a research note on Thursday, August 8th. Raymond James reiterated an "outperform" rating and issued a $36.00 target price on shares of Immunovant in a research note on Thursday, October 10th. Oppenheimer raised their price target on Immunovant from $47.00 to $53.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 9th. HC Wainwright reaffirmed a "buy" rating and set a $51.00 price objective on shares of Immunovant in a research note on Monday, September 30th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Immunovant in a report on Monday, September 9th.

Insider Buying and Selling at Immunovant

In other news, CEO Peter Salzmann sold 4,460 shares of the stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $29.56, for a total value of $131,837.60. Following the completion of the sale, the chief executive officer now owns 1,003,884 shares of the company's stock, valued at $29,674,811.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Immunovant news, CEO Peter Salzmann sold 4,460 shares of the firm's stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $29.56, for a total value of $131,837.60. Following the transaction, the chief executive officer now directly owns 1,003,884 shares of the company's stock, valued at $29,674,811.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider William L. Macias sold 3,188 shares of the company's stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $28.79, for a total value of $91,782.52. Following the completion of the sale, the insider now directly owns 365,144 shares of the company's stock, valued at $10,512,495.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,277 shares of company stock valued at $941,919 over the last ninety days. Corporate insiders own 5.90% of the company's stock.

Institutional Trading of Immunovant

A number of hedge funds have recently made changes to their positions in IMVT. Vanguard Group Inc. grew its holdings in Immunovant by 11.2% during the 1st quarter. Vanguard Group Inc. now owns 6,478,304 shares of the company's stock valued at $209,314,000 after purchasing an additional 650,506 shares in the last quarter. Armistice Capital LLC grew its stake in shares of Immunovant by 57.0% during the second quarter. Armistice Capital LLC now owns 3,396,909 shares of the company's stock valued at $89,678,000 after acquiring an additional 1,232,909 shares in the last quarter. Alpine Global Management LLC increased its position in shares of Immunovant by 34.6% during the first quarter. Alpine Global Management LLC now owns 1,882,704 shares of the company's stock worth $60,830,000 after acquiring an additional 484,332 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Immunovant by 16.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,862,043 shares of the company's stock worth $60,163,000 after acquiring an additional 259,481 shares in the last quarter. Finally, First Turn Management LLC boosted its holdings in Immunovant by 35.6% in the second quarter. First Turn Management LLC now owns 695,428 shares of the company's stock valued at $18,359,000 after purchasing an additional 182,535 shares during the last quarter. Hedge funds and other institutional investors own 47.08% of the company's stock.

Immunovant Trading Up 1.0 %

Shares of NASDAQ IMVT traded up $0.30 during trading on Wednesday, reaching $30.18. The company had a trading volume of 265,883 shares, compared to its average volume of 1,089,792. The stock has a market capitalization of $4.42 billion, a PE ratio of -15.48 and a beta of 0.66. Immunovant has a twelve month low of $24.67 and a twelve month high of $45.58. The stock has a 50-day moving average price of $30.02 and a two-hundred day moving average price of $28.91.

Immunovant (NASDAQ:IMVT - Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.07). During the same quarter in the prior year, the firm posted ($0.57) EPS. On average, sell-side analysts predict that Immunovant will post -2.41 EPS for the current year.

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.