Immunovant (NASDAQ:IMVT – Get Free Report) was downgraded by equities researchers at Wolfe Research from an “outperform” rating to a “peer perform” rating in a note issued to investors on Friday,Briefing.com Automated Import reports.
Several other equities analysts have also recently commented on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Immunovant in a research report on Monday, September 9th. Raymond James reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Immunovant in a report on Thursday, October 10th. Oppenheimer boosted their price target on Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. HC Wainwright reaffirmed a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a research note on Friday, November 8th. Finally, Wells Fargo & Company lowered their target price on Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.22.
View Our Latest Stock Report on Immunovant
Immunovant Trading Up 1.7 %
Immunovant (NASDAQ:IMVT – Get Free Report) last announced 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 in the previous year, the business earned ($0.45) earnings per share. Equities research analysts predict that Immunovant will post -2.73 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, insider Mark S. Levine sold 3,650 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $25.45, for a total transaction of $92,892.50. Following the transaction, the insider now directly owns 319,228 shares of the company’s stock, valued at approximately $8,124,352.60. This represents a 1.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Eva Renee Barnett sold 4,174 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $25.45, for a total transaction of $106,228.30. Following the transaction, the chief financial officer now 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 disclosure for this sale can be found here. In the last three months, insiders have sold 77,659 shares of company stock valued at $2,096,890. 5.90% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Immunovant
Hedge funds have recently modified their holdings of the stock. FMR LLC lifted its holdings in Immunovant by 19.6% during the 3rd quarter. FMR LLC now owns 12,537,571 shares of the company’s stock worth $357,446,000 after purchasing an additional 2,053,688 shares in the last quarter. Armistice Capital LLC lifted its holdings in shares of Immunovant by 57.0% in the second quarter. Armistice Capital LLC now owns 3,396,909 shares of the company’s stock worth $89,678,000 after buying an additional 1,232,909 shares in the last quarter. Baker BROS. Advisors LP boosted its position in shares of Immunovant by 163.7% in the third quarter. Baker BROS. Advisors LP now owns 1,225,410 shares of the company’s stock valued at $34,936,000 after acquiring an additional 760,692 shares during the period. Principal Financial Group Inc. increased its holdings in Immunovant by 69.9% during the 3rd quarter. Principal Financial Group Inc. now owns 951,124 shares of the company’s stock worth $27,117,000 after acquiring an additional 391,436 shares during the period. Finally, State Street Corp boosted its holdings in Immunovant by 11.2% in the 3rd quarter. State Street Corp now owns 3,022,342 shares of the company’s stock valued at $86,167,000 after purchasing an additional 303,386 shares during the period. 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.
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