Immunovant, Inc. (NASDAQ:IMVT) Receives $48.10 Average PT from Analysts

Shares of Immunovant, Inc. (NASDAQ:IMVT) have earned a consensus rating of “Buy” from the eleven brokerages that are currently covering the stock, MarketBeat.com reports. Eleven research analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have issued a report on the stock in the last year is $48.10.

IMVT has been the topic of several recent analyst reports. UBS Group lowered their target price on shares of Immunovant from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunovant in a research note on Monday, September 9th. Oppenheimer increased their target price on shares of Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. HC Wainwright reissued a “buy” rating and set a $51.00 target price on shares of Immunovant in a research note on Friday, November 8th. Finally, Raymond James restated an “outperform” rating and set a $36.00 price target on shares of Immunovant in a research report on Thursday, October 10th.

Immunovant Stock Performance

NASDAQ:IMVT opened at $28.73 on Friday. Immunovant has a one year low of $24.61 and a one year high of $45.58. The firm has a market cap of $4.22 billion, a price-to-earnings ratio of -12.94 and a beta of 0.66. The firm’s fifty day moving average is $28.97 and its two-hundred day moving average is $28.86.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.15). During the same quarter in the prior year, the firm earned ($0.45) EPS. As a group, equities research analysts predict that Immunovant will post -2.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Immunovant

In other Immunovant news, CEO Peter Salzmann sold 16,692 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $25.45, for a total value of $424,811.40. Following the completion of the sale, the chief executive officer now owns 978,097 shares in the company, valued at approximately $24,892,568.65. This represents a 1.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Eva Renee Barnett sold 5,162 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $29.56, for a total transaction of $152,588.72. Following the sale, the chief financial officer now owns 338,614 shares of the company’s stock, valued at $10,009,429.84. This represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,659 shares of company stock worth $2,096,890. Insiders own 5.90% of the company’s stock.

Institutional Trading of Immunovant

A number of hedge funds and other institutional investors have recently made changes to their positions in IMVT. KBC Group NV increased its holdings in shares of Immunovant by 46.2% during the 3rd quarter. KBC Group NV now owns 1,936 shares of the company’s stock worth $55,000 after buying an additional 612 shares during the last quarter. Quest Partners LLC boosted its position in shares of Immunovant by 216.7% during the 2nd quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock worth $69,000 after purchasing an additional 1,786 shares during the period. Headlands Technologies LLC purchased a new position in shares of Immunovant during the 2nd quarter worth approximately $77,000. Assetmark Inc. boosted its position in shares of Immunovant by 73.8% during the 3rd 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. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Immunovant by 21.4% during 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. Institutional investors and hedge funds 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.