Immunovant, Inc. (NASDAQ:IMVT) Given Average Recommendation of “Moderate Buy” by Analysts

Immunovant, Inc. (NASDAQ:IMVT) has been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $28.7778.

Several equities analysts have commented on IMVT shares. Truist Financial assumed coverage on shares of Immunovant in a research note on Tuesday, October 14th. They set a “hold” rating and a $16.00 target price on the stock. Bank of America lowered their price objective on shares of Immunovant from $33.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Immunovant in a report on Tuesday, October 14th. Citigroup restated a “buy” rating on shares of Immunovant in a research report on Monday, August 11th. Finally, UBS Group lifted their price target on Immunovant from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, July 28th.

Immunovant Price Performance

Shares of Immunovant stock opened at $22.82 on Friday. Immunovant has a 1-year low of $12.72 and a 1-year high of $29.49. The business’s fifty day moving average price is $18.54 and its two-hundred day moving average price is $16.73. The company has a market capitalization of $4.00 billion, a P/E ratio of -8.04 and a beta of 0.60.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.01). During the same period in the prior year, the company earned ($0.74) earnings per share. On average, research analysts expect that Immunovant will post -2.69 earnings per share for the current fiscal year.

Insider Activity

In other Immunovant news, insider Michael Geffner sold 2,595 shares of the company’s stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $19.03, for a total value of $49,382.85. Following the completion of the sale, the insider directly owned 217,958 shares of the company’s stock, valued at approximately $4,147,740.74. This represents a 1.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Jay S. Stout sold 2,520 shares of the firm’s stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $19.03, for a total transaction of $47,955.60. Following the transaction, the chief technology officer owned 200,814 shares of the company’s stock, valued at approximately $3,821,490.42. This trade represents a 1.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 7,972 shares of company stock worth $143,908. 1.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Immunovant

A number of institutional investors and hedge funds have recently modified their holdings of IMVT. Strs Ohio bought a new stake in shares of Immunovant during the 1st quarter worth $27,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Immunovant during the third quarter valued at $33,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Immunovant in the 1st quarter valued at $37,000. Farther Finance Advisors LLC boosted its position in shares of Immunovant by 142,750.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,857 shares of the company’s stock valued at $46,000 after purchasing an additional 2,855 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in Immunovant by 138.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,831 shares of the company’s stock worth $46,000 after purchasing an additional 1,646 shares in the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

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.