Immunovant (NASDAQ:IMVT) Stock Rating Lowered by Wolfe Research

Immunovant (NASDAQ:IMVT) was downgraded by equities researchers at Wolfe Research from an “outperform” rating to a “peer perform” rating in a research report issued on Friday,Briefing.com Automated Import reports.

IMVT has been the subject of a number of other reports. Oppenheimer lifted 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. Wells Fargo & Company dropped their price objective on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Raymond James reiterated an “outperform” rating and set a $36.00 price target on shares of Immunovant in a research report on Thursday, October 10th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunovant in a report on Monday, September 9th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $51.00 target price on shares of Immunovant in a report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Immunovant currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.22.

Immunovant Stock Up 1.7 %

Shares of IMVT opened at $25.19 on Friday. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of -11.35 and a beta of 0.64. The business’s 50 day moving average is $27.86 and its two-hundred day moving average is $28.72. Immunovant has a 52-week low of $23.88 and a 52-week high of $45.58.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.15). During the same quarter in the previous year, the business earned ($0.45) EPS. On average, equities analysts expect that Immunovant will post -2.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Eva Renee Barnett sold 4,174 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $25.45, for a total value of $106,228.30. Following the transaction, the chief financial officer now directly owns 331,169 shares in the company, valued at $8,428,251.05. This trade represents a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark S. Levine sold 3,650 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $25.45, for a total transaction of $92,892.50. Following the completion of the sale, the insider now directly owns 319,228 shares of the company’s stock, valued at $8,124,352.60. The trade was a 1.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,659 shares of company stock valued at $2,096,890 over the last ninety days. 5.90% of the stock is owned by company insiders.

Institutional Trading of Immunovant

A number of institutional investors have recently modified their holdings of the company. KBC Group NV lifted its position in Immunovant by 46.2% during the 3rd quarter. KBC Group NV now owns 1,936 shares of the company’s stock worth $55,000 after buying an additional 612 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake 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 purchasing an additional 934 shares during the last quarter. Assetmark Inc. increased its position in Immunovant by 73.8% during the third quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock worth $82,000 after buying an additional 1,228 shares during the last quarter. Tyro Capital Management LLC lifted its holdings in Immunovant by 0.6% during the 3rd quarter. Tyro Capital Management LLC now owns 252,149 shares of the company’s stock valued at $7,189,000 after purchasing an additional 1,529 shares during the last quarter. Finally, Quest Partners LLC raised its position in shares of Immunovant by 216.7% in the second quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock valued at $69,000 after purchasing an additional 1,786 shares during the period. 47.08% of the stock is currently owned by institutional investors.

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.