Immunovant, Inc. (NASDAQ:IMVT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Immunovant, Inc. (NASDAQ:IMVT) has earned a consensus recommendation of “Moderate Buy” from the twelve research firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $28.7778.

IMVT has been the topic of a number of analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Immunovant in a research report on Tuesday, October 14th. The Goldman Sachs Group upgraded Immunovant to a “hold” rating and set a $18.00 target price on the stock in a research report on Thursday, July 10th. Truist Financial initiated coverage on Immunovant in a research report on Tuesday, October 14th. They set a “hold” rating and a $16.00 target price on the stock. UBS Group raised their target price on Immunovant from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. Finally, Citigroup restated a “buy” rating on shares of Immunovant in a research report on Monday, August 11th.

Insider Activity

In related news, insider Michael Geffner sold 2,385 shares of Immunovant stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $18.15, for a total value of $43,287.75. Following the sale, the insider directly owned 221,825 shares in the company, valued at approximately $4,026,123.75. The trade was a 1.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Jay S. Stout sold 1,585 shares of Immunovant stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $16.30, for a total value of $25,835.50. Following the completion of the sale, the chief technology officer owned 203,334 shares in the company, valued at approximately $3,314,344.20. The trade was a 0.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,047 shares of company stock worth $140,768. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Immunovant

Institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Immunovant by 21.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,928 shares of the company’s stock worth $109,000 after buying an additional 1,037 shares during the last quarter. EFG Asset Management North America Corp. lifted its stake in Immunovant by 76.2% in the 1st quarter. EFG Asset Management North America Corp. now owns 130,356 shares of the company’s stock worth $2,226,000 after purchasing an additional 56,375 shares in the last quarter. Two Seas Capital LP lifted its stake in Immunovant by 8.7% in the 1st quarter. Two Seas Capital LP now owns 1,642,772 shares of the company’s stock worth $28,075,000 after purchasing an additional 131,158 shares in the last quarter. Rhumbline Advisers lifted its stake in Immunovant by 3.2% in the 1st quarter. Rhumbline Advisers now owns 83,555 shares of the company’s stock worth $1,428,000 after purchasing an additional 2,623 shares in the last quarter. Finally, Woodline Partners LP lifted its stake in Immunovant by 133.0% in the 1st quarter. Woodline Partners LP now owns 1,497,869 shares of the company’s stock worth $25,599,000 after purchasing an additional 855,143 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Immunovant Stock Performance

NASDAQ IMVT opened at $17.51 on Wednesday. The stock has a 50-day simple moving average of $15.89 and a two-hundred day simple moving average of $15.75. The firm has a market capitalization of $3.05 billion, a P/E ratio of -6.14 and a beta of 0.48. Immunovant has a fifty-two week low of $12.72 and a fifty-two week high of $32.10.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings data on Monday, August 11th. The company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.09. During the same period in the previous year, the business posted ($0.60) EPS. As a group, analysts forecast that Immunovant will post -2.69 earnings per share for the current year.

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.