Immunovant, Inc. (NASDAQ:IMVT) Receives $48.00 Consensus PT from Analysts

Immunovant, Inc. (NASDAQ:IMVT) has received an average rating of “Buy” from the seventeen brokerages that are currently covering the stock, MarketBeat.com reports. Seventeen analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $48.00.

A number of analysts have recently issued reports on IMVT shares. Bank of America lifted their price objective on shares of Immunovant from $49.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, December 21st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunovant in a research note on Friday, January 12th. Wolfe Research started coverage on shares of Immunovant in a research note on Thursday, February 15th. They set an “outperform” rating and a $55.00 price objective on the stock. JPMorgan Chase & Co. started coverage on shares of Immunovant in a research note on Tuesday, February 20th. They set an “overweight” rating and a $51.00 price objective on the stock. Finally, HC Wainwright lifted their price objective on shares of Immunovant from $47.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, December 21st.

Insiders Place Their Bets

In other Immunovant news, insider Mark S. Levine sold 3,027 shares of Immunovant stock in a transaction on Friday, January 26th. The shares were sold at an average price of $37.92, for a total value of $114,783.84. Following the completion of the transaction, the insider now owns 304,102 shares of the company’s stock, valued at $11,531,547.84. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Mark S. Levine sold 2,134 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $36.15, for a total transaction of $77,144.10. Following the completion of the transaction, the insider now owns 301,968 shares of the company’s stock, valued at $10,916,143.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Mark S. Levine sold 3,027 shares of the business’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $37.92, for a total transaction of $114,783.84. Following the transaction, the insider now directly owns 304,102 shares of the company’s stock, valued at approximately $11,531,547.84. The disclosure for this sale can be found here. Insiders sold a total of 17,640 shares of company stock valued at $595,585 over the last 90 days. 4.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Immunovant

Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC boosted its holdings in shares of Immunovant by 47.5% during the third quarter. FMR LLC now owns 7,748,546 shares of the company’s stock valued at $297,467,000 after acquiring an additional 2,494,678 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Immunovant by 14.0% during the third quarter. Vanguard Group Inc. now owns 6,233,146 shares of the company’s stock valued at $239,290,000 after acquiring an additional 764,530 shares during the period. BlackRock Inc. boosted its holdings in shares of Immunovant by 6.7% during the second quarter. BlackRock Inc. now owns 4,201,314 shares of the company’s stock valued at $79,699,000 after acquiring an additional 264,133 shares during the period. State Street Corp boosted its holdings in shares of Immunovant by 27.5% during the first quarter. State Street Corp now owns 3,967,605 shares of the company’s stock valued at $61,538,000 after acquiring an additional 854,662 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in shares of Immunovant during the fourth quarter valued at $112,356,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

Immunovant Stock Performance

NASDAQ IMVT opened at $28.43 on Friday. Immunovant has a one year low of $15.06 and a one year high of $45.58. The company’s 50 day moving average price is $33.29 and its 200 day moving average price is $36.15. The firm has a market capitalization of $4.13 billion, a price-to-earnings ratio of -15.45 and a beta of 0.65.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings results on Monday, February 12th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.07. Sell-side analysts forecast that Immunovant will post -1.7 EPS for the current fiscal year.

Immunovant Company Profile

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.