Immunovant (NASDAQ:IMVT) Issues Earnings Results

Immunovant (NASDAQ:IMVT) announced its quarterly earnings data on Thursday. The company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.12), FiscalAI reports. The business had revenue of $7.09 million during the quarter, compared to analyst estimates of $7.09 million. During the same period in the prior year, the company earned ($0.71) earnings per share.

Here are the key takeaways from Immunovant’s conference call:

• Brexpiprazole’s potential dermatomyositis launch remains on track for late September following priority review, with commercial and patient-support teams in place. Management emphasized a “slow and steady” rollout focused on building access and a broader multi-indication franchise rather than maximizing early sales.
• Roivant has begun enrolling the phase III cutaneous sarcoidosis study after strong phase II results, while the lichen planus program is also enrolling well. Top-line readouts are expected in the second half of 2026 for brexpocitinib in non-infectious uveitis and povorcitinib in PH-ILD, with additional proof-of-concept data in cutaneous lupus.
• Roivant received approximately $950 million from its Moderna settlement, including roughly $772 million attributable to Genevant and Arbutus. Additional potential proceeds include about $1.3 billion from the ongoing ’498 appeal and further litigation against Pfizer and BioNTech.
• The company reported nearly $4 billion in cash before the settlement proceeds and repurchased approximately $200 million of shares during the quarter. Management said buybacks will continue under existing authorizations, citing attractive share-retirement economics.
• Management highlighted substantial execution and clinical risk in the upcoming catalysts: PH-ILD’s key question is whether povorcitinib’s pulmonary vascular effects translate from PAH, while placebo-response variability remains a concern for the NIU study. Roivant expects to provide a fuller update on difficult-to-treat rheumatoid arthritis after randomized-withdrawal data and an FDA discussion later this year.

Immunovant Trading Up 0.5%

NASDAQ:IMVT traded up $0.21 during trading hours on Friday, reaching $39.95. The company had a trading volume of 906,196 shares, compared to its average volume of 922,481. Immunovant has a 52 week low of $14.32 and a 52 week high of $41.23. The firm has a market cap of $8.25 billion, a price-to-earnings ratio of -14.17 and a beta of 0.77. The firm’s 50 day moving average price is $37.23 and its 200-day moving average price is $30.59.

Insider Buying and Selling at Immunovant

In related news, insider Tuyl Christopher Van sold 1,206 shares of Immunovant stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $39.55, for a total value of $47,697.30. Following the completion of the sale, the insider owned 179,391 shares of the company’s stock, valued at $7,094,914.05. The trade was a 0.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Atul Pande sold 1,500 shares of the company’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $38.01, for a total value of $57,015.00. Following the sale, the director owned 116,731 shares of the company’s stock, valued at approximately $4,436,945.31. This trade represents a 1.27% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 324,810 shares of company stock worth $11,350,166. 1.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. RTW Investments LP bought a new position in Immunovant in the fourth quarter worth approximately $80,781,000. Morgan Stanley grew its position in shares of Immunovant by 147.4% during the 4th quarter. Morgan Stanley now owns 4,846,385 shares of the company’s stock valued at $123,195,000 after acquiring an additional 2,887,359 shares during the period. ADAR1 Capital Management LLC grew its position in shares of Immunovant by 319.0% during the 3rd quarter. ADAR1 Capital Management LLC now owns 2,241,753 shares of the company’s stock valued at $36,137,000 after acquiring an additional 1,706,687 shares during the period. Logos Global Management LP increased its stake in shares of Immunovant by 400.0% in the 4th quarter. Logos Global Management LP now owns 1,375,000 shares of the company’s stock worth $34,952,000 after purchasing an additional 1,100,000 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Immunovant by 30.9% in the 4th quarter. State Street Corp now owns 3,786,926 shares of the company’s stock worth $96,264,000 after purchasing an additional 894,308 shares in the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on IMVT. Weiss Ratings reissued a “sell (d-)” rating on shares of Immunovant in a research note on Monday, July 6th. Truist Financial raised their target price on shares of Immunovant from $23.00 to $30.00 and gave the company a “hold” rating in a research note on Friday, May 22nd. Guggenheim lifted their target price on shares of Immunovant from $44.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Citigroup lifted their target price on shares of Immunovant from $57.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. Finally, JPMorgan Chase & Co. boosted their price target on Immunovant from $47.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $44.00.

About Immunovant

Immunovant Inc is a clinical-stage biopharmaceutical company focused on the development of novel monoclonal antibody therapies that target the neonatal Fc receptor (FcRn) to treat severe autoimmune diseases. By inhibiting FcRn, Immunovant’s approach is designed to reduce levels of pathogenic immunoglobulin G (IgG) antibodies, which play a central role in the pathology of disorders such as myasthenia gravis and immune thrombocytopenia.

The company’s lead asset, efgartigimod, is an engineered Fc fragment that selectively binds to FcRn, accelerating the degradation of circulating IgG.