Immunovant, Inc. (NASDAQ:IMVT) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Immunovant, Inc. (NASDAQ:IMVT) have been assigned an average rating of “Buy” from the ten ratings firms that are currently covering the company, Marketbeat Ratings reports. Ten research analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have covered the stock in the last year is $47.89.

A number of research analysts have weighed in on IMVT shares. Raymond James reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Immunovant in a research note on Thursday, October 10th. Cantor Fitzgerald restated an “overweight” rating on shares of Immunovant in a report on Monday, September 9th. Oppenheimer lifted their price target on Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Finally, HC Wainwright reissued a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a research note on Friday, November 8th.

Immunovant Price Performance

Shares of IMVT opened at $26.25 on Thursday. Immunovant has a one year low of $24.61 and a one year high of $45.58. The company has a market cap of $3.85 billion, a PE ratio of -11.82 and a beta of 0.64. The stock has a 50-day moving average of $28.70 and a 200-day moving average of $28.73.

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

Insider Activity at Immunovant

In related news, CFO Eva Renee Barnett sold 5,162 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $29.56, for a total transaction of $152,588.72. Following the completion of the sale, the chief financial officer now owns 338,614 shares in the company, valued at approximately $10,009,429.84. This trade represents a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Peter Salzmann sold 16,692 shares of Immunovant stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $25.45, for a total transaction of $424,811.40. Following the completion of the sale, the chief executive officer now directly owns 978,097 shares in the company, valued at approximately $24,892,568.65. This represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,659 shares of company stock valued at $2,096,890. 5.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Immunovant

Institutional investors have recently bought and sold shares of the company. KBC Group NV raised its stake in shares of 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 period. Quest Partners LLC increased its holdings in Immunovant by 216.7% in the 2nd quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock worth $69,000 after acquiring an additional 1,786 shares during the last quarter. Assetmark Inc. raised its stake in Immunovant by 73.8% in the 3rd quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock valued at $82,000 after acquiring an additional 1,228 shares during the period. Headlands Technologies LLC purchased a new stake in Immunovant during the second quarter valued at about $77,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Immunovant by 21.4% during the third 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 period. Hedge funds and other institutional investors 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.