Immunovant (NASDAQ:IMVT - Get Free Report) had its price objective reduced by investment analysts at Wells Fargo & Company from $47.00 to $45.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's target price would suggest a potential upside of 75.37% from the company's previous close.
IMVT has been the topic of a number of other research reports. Oppenheimer boosted their target price on Immunovant from $47.00 to $53.00 and gave the company an "outperform" rating in a research note on Wednesday, October 9th. Raymond James reissued an "outperform" rating and issued a $36.00 price target on shares of Immunovant in a research note on Thursday, October 10th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Immunovant in a research report on Monday, September 9th. Finally, HC Wainwright reissued a "buy" rating and issued a $51.00 target price on shares of Immunovant in a research report on Friday, November 8th. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat, Immunovant has a consensus rating of "Buy" and a consensus price target of $47.60.
Check Out Our Latest Analysis on IMVT
Immunovant Stock Performance
Shares of IMVT stock traded down $0.59 during trading on Thursday, hitting $25.66. 1,244,815 shares of the company were exchanged, compared to its average volume of 1,061,397. The business's 50-day simple moving average is $28.62 and its 200 day simple moving average is $28.71. Immunovant has a twelve month low of $24.61 and a twelve month high of $45.58. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of -11.56 and a beta of 0.64.
Immunovant (NASDAQ:IMVT - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.59) by ($0.15). During the same quarter in the prior year, the business earned ($0.45) EPS. On average, equities analysts forecast that Immunovant will post -2.73 earnings per share for the current fiscal year.
Insider Activity at Immunovant
In related news, CEO Peter Salzmann sold 9,095 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $28.79, for a total value of $261,845.05. Following the completion of the sale, the chief executive officer now owns 994,789 shares in the company, valued at approximately $28,639,975.31. This trade represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Eva Renee Barnett sold 5,162 shares of Immunovant stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $29.56, for a total value of $152,588.72. Following the sale, the chief financial officer now directly owns 338,614 shares in the company, valued at approximately $10,009,429.84. This trade represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 77,659 shares of company stock worth $2,096,890 in the last 90 days. 5.90% of the stock is owned by company insiders.
Hedge Funds Weigh In On Immunovant
Several large investors have recently added to or reduced their stakes in the company. KBC Group NV increased its position in shares of Immunovant by 46.2% during 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. Quest Partners LLC increased its holdings in Immunovant by 216.7% in the 2nd quarter. Quest Partners LLC now owns 2,610 shares of the company's stock valued at $69,000 after buying an additional 1,786 shares during the period. Headlands Technologies LLC bought a new stake in Immunovant in the 2nd quarter valued at $77,000. Assetmark Inc. raised its stake in shares of 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 in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Immunovant by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company's stock worth $148,000 after acquiring an additional 934 shares during the period. Institutional investors and hedge funds own 47.08% of the company's stock.
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.
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