Immunovant (NASDAQ:IMVT) Rating Reiterated by Cantor Fitzgerald

Immunovant (NASDAQ:IMVT)‘s stock had its “overweight” rating reiterated by stock analysts at Cantor Fitzgerald in a research report issued on Tuesday, Benzinga reports.

A number of other research analysts also recently issued reports on IMVT. The Goldman Sachs Group started coverage on Immunovant in a research note on Wednesday, March 13th. They issued a “buy” rating and a $50.00 price objective for the company. Truist Financial reissued a “buy” rating and issued a $48.00 target price on shares of Immunovant in a research report on Monday, March 25th. JPMorgan Chase & Co. initiated coverage on shares of Immunovant in a research note on Tuesday, February 20th. They set an “overweight” rating and a $51.00 price target on the stock. Oppenheimer lowered their target price on shares of Immunovant from $50.00 to $46.00 and set an “outperform” rating on the stock in a research note on Monday, June 3rd. Finally, HC Wainwright restated a “buy” rating and set a $51.00 target price on shares of Immunovant in a research report on Thursday, May 30th. Seventeen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $48.75.

Immunovant Stock Down 2.3 %

Shares of IMVT stock opened at $26.19 on Tuesday. The firm has a 50 day moving average of $28.22 and a 200-day moving average of $34.01. The company has a market cap of $3.83 billion, a price-to-earnings ratio of -13.78 and a beta of 0.67. Immunovant has a 52 week low of $18.16 and a 52 week high of $45.58.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings data on Wednesday, May 29th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.08). During the same quarter in the previous year, the business posted ($0.46) EPS. Analysts anticipate that Immunovant will post -2.1 earnings per share for the current year.

Insider Transactions at Immunovant

In other news, insider Michael Geffner sold 3,261 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $28.90, for a total transaction of $94,242.90. Following the sale, the insider now owns 141,616 shares in the company, valued at approximately $4,092,702.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Michael Geffner sold 3,261 shares of Immunovant stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $28.90, for a total transaction of $94,242.90. Following the completion of the transaction, the insider now directly owns 141,616 shares in the company, valued at $4,092,702.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Eva Renee Barnett sold 3,689 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $31.18, for a total value of $115,023.02. Following the completion of the sale, the chief financial officer now owns 371,709 shares in the company, valued at approximately $11,589,886.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 99,948 shares of company stock valued at $2,936,889. Corporate insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Immunovant

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new stake in shares of Immunovant during the 4th quarter valued at about $27,000. Assetmark Inc. purchased a new stake in Immunovant during the fourth quarter valued at approximately $61,000. EntryPoint Capital LLC boosted its stake in shares of Immunovant by 288.8% during the 1st quarter. EntryPoint Capital LLC now owns 2,912 shares of the company’s stock worth $94,000 after acquiring an additional 2,163 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Immunovant during the 4th quarter valued at $212,000. Finally, CoreCap Advisors LLC increased its stake in shares of Immunovant by 11.2% in the 4th quarter. CoreCap Advisors LLC now owns 6,407 shares of the company’s stock worth $270,000 after purchasing an additional 647 shares in the last quarter. 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.