Immunovant, Inc. (NASDAQ:IMVT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Immunovant, Inc. (NASDAQ:IMVT) has received an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $47.00.

IMVT has been the topic of several recent research reports. Bank of America cut their target price on shares of Immunovant from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. Raymond James reissued an “outperform” rating and issued a $36.00 price objective on shares of Immunovant in a research note on Thursday, October 10th. Oppenheimer raised their target price on Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Wells Fargo & Company cut their target price on Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Wolfe Research downgraded shares of Immunovant from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd.

Immunovant Stock Performance

Shares of NASDAQ:IMVT opened at $23.86 on Monday. Immunovant has a 52-week low of $22.41 and a 52-week high of $41.38. The company has a market capitalization of $3.50 billion, a PE ratio of -10.75 and a beta of 0.66. The company has a fifty day moving average of $26.39 and a 200-day moving average of $28.48.

Immunovant (NASDAQ:IMVT) last issued its earnings results on Thursday, November 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.15). During the same period last year, the business earned ($0.45) earnings per share. On average, equities analysts forecast that Immunovant will post -2.75 EPS for the current fiscal year.

Insider Activity at Immunovant

In related news, insider William L. Macias sold 2,383 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $23.83, for a total transaction of $56,786.89. Following the transaction, the insider now directly owns 359,408 shares of the company’s stock, valued at $8,564,692.64. This trade represents a 0.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Jay S. Stout sold 2,740 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $29.53, for a total value of $80,912.20. Following the completion of the transaction, the chief technology officer now directly owns 142,186 shares of the company’s stock, valued at approximately $4,198,752.58. This represents a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 75,141 shares of company stock valued at $1,907,091. 5.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. KBC Group NV lifted its holdings in Immunovant by 46.2% during the third quarter. KBC Group NV now owns 1,936 shares of the company’s stock valued at $55,000 after purchasing an additional 612 shares during the last quarter. Quest Partners LLC boosted its stake in Immunovant by 216.7% during the second quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock valued at $69,000 after buying an additional 1,786 shares during the period. Headlands Technologies LLC purchased a new position in Immunovant during the second quarter worth about $77,000. Assetmark Inc. increased its stake in Immunovant by 73.8% in the 3rd quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock worth $82,000 after acquiring an additional 1,228 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Immunovant by 21.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock valued at $148,000 after acquiring an additional 934 shares in the last quarter. 47.08% of the stock is owned by institutional investors.

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.