Immunovant, Inc. (NASDAQ:IMVT) Receives $47.22 Average PT from Brokerages

Shares of Immunovant, Inc. (NASDAQ:IMVT) have been given a consensus rating of “Moderate Buy” by the eleven analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $47.00.

IMVT has been the topic of a number of analyst reports. 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 research note on Thursday, December 19th. Bank of America dropped their price objective on shares of Immunovant from $48.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday. HC Wainwright reissued a “buy” rating and issued a $51.00 price target on shares of Immunovant in a research note on Friday, November 8th. Oppenheimer lifted their price target on shares of Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Finally, 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.

Insider Activity at Immunovant

In related news, CTO Jay S. Stout sold 2,740 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $29.53, for a total value of $80,912.20. Following the sale, the chief technology officer now directly owns 142,186 shares in the company, valued at approximately $4,198,752.58. The trade was a 1.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark S. Levine sold 4,361 shares of Immunovant stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $29.53, for a total value of $128,780.33. Following the completion of the transaction, the insider now directly owns 322,878 shares of the company’s stock, valued at approximately $9,534,587.34. This represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,693 shares of company stock worth $1,586,625. Company insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Immunovant

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IMVT. KBC Group NV lifted its stake in Immunovant by 46.2% in the third quarter. KBC Group NV now owns 1,936 shares of the company’s stock valued at $55,000 after buying an additional 612 shares during the last quarter. Quest Partners LLC lifted its stake in 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 buying an additional 1,786 shares during the last quarter. Assetmark Inc. lifted its stake in Immunovant by 73.8% in the third quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock valued at $82,000 after buying an additional 1,228 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Immunovant in the second quarter valued at approximately $77,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Immunovant by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock valued at $148,000 after buying an additional 934 shares during the last quarter. 47.08% of the stock is owned by institutional investors and hedge funds.

Immunovant Trading Up 6.6 %

IMVT opened at $24.40 on Monday. Immunovant has a 12-month low of $22.41 and a 12-month high of $42.44. The firm has a market capitalization of $3.58 billion, a PE ratio of -10.99 and a beta of 0.66. The firm has a 50 day moving average of $26.79 and a two-hundred day moving average of $28.56.

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 analysts’ consensus estimates of ($0.59) by ($0.15). During the same period in the prior year, the firm earned ($0.45) EPS. As a group, analysts predict that Immunovant will post -2.73 EPS for the current fiscal year.

About Immunovant

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.