Guggenheim Has Lowered Expectations for Immunovant (NASDAQ:IMVT) Stock Price

Immunovant (NASDAQ:IMVT) had its target price trimmed by Guggenheim from $46.00 to $44.00 in a research report released on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also commented on IMVT. Wolfe Research lowered Immunovant from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. HC Wainwright reiterated a “buy” rating and set a $51.00 target price on shares of Immunovant in a research report on Friday, February 7th. Cantor Fitzgerald raised Immunovant to a “strong-buy” rating in a report on Thursday, January 30th. Bank of America cut their price target on Immunovant from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Finally, Wells Fargo & Company lowered 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. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $46.73.

Immunovant Stock Performance

Immunovant stock opened at $19.22 on Monday. The company has a market cap of $3.26 billion, a P/E ratio of -7.34 and a beta of 0.65. Immunovant has a one year low of $19.07 and a one year high of $39.55. The business has a fifty day moving average of $24.39 and a two-hundred day moving average of $27.66.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings data on Monday, February 10th. The company reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.08). Sell-side analysts predict that Immunovant will post -2.74 EPS for the current year.

Insider Buying and Selling at Immunovant

In other Immunovant news, CFO Eva Renee Barnett sold 4,174 shares of the business’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 completion of the transaction, the chief financial officer now directly owns 331,169 shares in the company, valued at approximately $8,428,251.05. The trade was a 1.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Jay S. Stout sold 2,195 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $23.59, for a total value of $51,780.05. Following the sale, the chief technology officer now owns 139,991 shares in the company, valued at $3,302,387.69. This trade represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 72,892 shares of company stock worth $1,811,857. Corporate insiders own 5.90% of the company’s stock.

Institutional Trading of Immunovant

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. KBC Group NV boosted its position in shares of Immunovant by 46.2% in the third 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. Assetmark Inc. raised its stake 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 purchasing an additional 1,228 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings 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 valued at $148,000 after purchasing an additional 934 shares during the last quarter. Bank Pictet & Cie Europe AG purchased a new stake in shares of Immunovant during the 3rd quarter valued at $261,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Immunovant during the 4th quarter worth $268,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

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.