Immunovant, Inc. (NASDAQ:IMVT) Receives Consensus Rating of “Buy” from Analysts

Shares of Immunovant, Inc. (NASDAQ:IMVT) have received a consensus rating of “Buy” from the fifteen research firms that are currently covering the company, MarketBeat reports. Fifteen research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $49.73.

A number of research analysts have recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunovant in a research note on Tuesday, June 18th. Oppenheimer reduced 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 reaffirmed a “buy” rating and set a $51.00 price objective on shares of Immunovant in a research note on Thursday, May 30th.

Insider Buying and Selling at Immunovant

In related news, insider Michael Geffner sold 3,456 shares of Immunovant stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $27.76, for a total transaction of $95,938.56. Following the completion of the transaction, the insider now owns 138,160 shares of the company’s stock, valued at $3,835,321.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Immunovant news, insider Julia G. Butchko sold 3,247 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $29.65, for a total value of $96,273.55. Following the transaction, the insider now directly owns 448,380 shares of the company’s stock, valued at $13,294,467. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael Geffner sold 3,456 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $27.76, for a total transaction of $95,938.56. Following the sale, the insider now directly owns 138,160 shares of the company’s stock, valued at approximately $3,835,321.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,927 shares of company stock valued at $1,599,990. 5.90% of the stock is currently owned by company insiders.

Institutional Trading of Immunovant

Several large investors have recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new position in Immunovant during the 4th quarter valued at $112,356,000. Octagon Capital Advisors LP grew its position in Immunovant by 127.3% in the fourth quarter. Octagon Capital Advisors LP now owns 273,289 shares of the company’s stock worth $11,514,000 after acquiring an additional 1,273,289 shares in the last quarter. Vanguard Group Inc. lifted its position in Immunovant by 14.0% in the 3rd quarter. Vanguard Group Inc. now owns 6,233,146 shares of the company’s stock worth $239,290,000 after buying an additional 764,530 shares during the last quarter. Franklin Resources Inc. purchased a new stake in shares of Immunovant in the 4th quarter valued at $22,712,000. Finally, First Turn Management LLC purchased a new stake in Immunovant during the 4th quarter valued at about $21,608,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Immunovant Stock Up 4.7 %

NASDAQ:IMVT opened at $29.10 on Monday. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of -15.32 and a beta of 0.67. Immunovant has a 12 month low of $18.82 and a 12 month high of $45.58. The company’s 50 day moving average is $27.59 and its 200-day moving average is $31.60.

Immunovant (NASDAQ:IMVT) last released its earnings results on Wednesday, May 29th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.08). During the same period last year, the business earned ($0.46) earnings per share. Research analysts predict that Immunovant will post -2.11 EPS for the current fiscal year.

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.