Immunovant (NASDAQ:IMVT) Stock Rating Reaffirmed by HC Wainwright

Immunovant (NASDAQ:IMVT)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a report released on Monday, Benzinga reports. They presently have a $51.00 target price on the stock. HC Wainwright’s price target would suggest a potential upside of 82.01% from the stock’s current price.

A number of other equities analysts also recently commented on IMVT. UBS Group reduced their price objective on shares of Immunovant from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Oppenheimer reduced their price target on Immunovant from $50.00 to $46.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. JPMorgan Chase & Co. decreased their price objective on Immunovant from $51.00 to $46.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunovant in a research note on Monday, September 9th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $49.09.

Immunovant Trading Down 1.0 %

IMVT opened at $28.02 on Monday. The business’s 50-day moving average price is $29.73 and its 200-day moving average price is $29.17. Immunovant has a 12 month low of $24.67 and a 12 month high of $45.58. The company has a market cap of $4.10 billion, a P/E ratio of -14.75 and a beta of 0.67.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.07). During the same quarter in the previous year, the company earned ($0.57) EPS. Equities research analysts forecast that Immunovant will post -2.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Immunovant

In related news, CEO Peter Salzmann sold 4,619 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $28.06, for a total value of $129,609.14. Following the sale, the chief executive officer now owns 1,032,097 shares of the company’s stock, valued at $28,960,641.82. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Peter Salzmann sold 4,619 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $28.06, for a total transaction of $129,609.14. Following the completion of the transaction, the chief executive officer now owns 1,032,097 shares in the company, valued at $28,960,641.82. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO Jay S. Stout sold 2,813 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $27.76, for a total value of $78,088.88. Following the completion of the sale, the chief technology officer now owns 144,926 shares in the company, valued at $4,023,145.76. The disclosure for this sale can be found here. Insiders have sold 31,475 shares of company stock valued at $904,638 in the last quarter. Corporate insiders own 5.90% of the company’s stock.

Institutional Trading of Immunovant

Several institutional investors and hedge funds have recently bought and sold shares of the business. 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 acquiring an additional 1,786 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Immunovant in the 2nd quarter valued at approximately $77,000. EntryPoint Capital LLC increased its position in 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 purchasing an additional 2,163 shares during the period. DNB Asset Management AS raised its stake in shares of Immunovant by 10.3% during the 2nd quarter. DNB Asset Management AS now owns 10,290 shares of the company’s stock worth $271,000 after buying an additional 958 shares in the last quarter. Finally, Farallon Capital Management LLC acquired a new stake in shares of Immunovant in the 2nd quarter valued at approximately $317,000. 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.