Brokerages Set Immunovant, Inc. (NASDAQ:IMVT) Target Price at $47.22

Shares of Immunovant, Inc. (NASDAQ:IMVT) have received an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $47.00.

Several equities analysts have commented on the company. Bank of America lowered their price objective on Immunovant from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Wolfe Research lowered shares of Immunovant from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. HC Wainwright reaffirmed a “buy” rating and set a $51.00 target price on shares of Immunovant in a research note on Friday, November 8th. Oppenheimer boosted their price target on Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Finally, Raymond James reiterated an “outperform” rating and set a $36.00 price objective on shares of Immunovant in a research note on Thursday, October 10th.

Immunovant Trading Up 0.3 %

NASDAQ:IMVT opened at $23.86 on Monday. The company has a 50-day moving average price of $26.39 and a 200-day moving average price of $28.48. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of -10.75 and a beta of 0.66. Immunovant has a 12 month low of $22.41 and a 12 month high of $41.38.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.15). During the same quarter last year, the company earned ($0.45) earnings per share. Equities analysts forecast that Immunovant will post -2.75 EPS for the current fiscal year.

Insider Activity

In other Immunovant news, Director Sciences Ltd. Roivant purchased 16,845,010 shares of Immunovant stock in a transaction that occurred on Monday, January 13th. The shares were bought at an average price of $20.00 per share, for a total transaction of $336,900,200.00. Following the completion of the transaction, the director now owns 96,650,341 shares of the company’s stock, valued at approximately $1,933,006,820. This trade represents a 21.11 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Mark S. Levine sold 4,361 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $29.53, for a total transaction of $128,780.33. Following the transaction, the insider now owns 322,878 shares of the company’s stock, valued at $9,534,587.34. This trade represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,141 shares of company stock valued at $1,907,091 in the last ninety days. Corporate insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Immunovant

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. KBC Group NV lifted its holdings in shares of Immunovant by 46.2% in the 3rd quarter. KBC Group NV now owns 1,936 shares of the company’s stock worth $55,000 after acquiring an additional 612 shares during the last quarter. Quest Partners LLC boosted its holdings 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. Headlands Technologies LLC purchased a new stake in shares of Immunovant in the 2nd quarter worth $77,000. Assetmark Inc. grew its holdings in Immunovant by 73.8% during the 3rd quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock worth $82,000 after acquiring an additional 1,228 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Immunovant by 21.4% in 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 period. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

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.