HC Wainwright Reaffirms Buy Rating for Immunovant (NASDAQ:IMVT)

Immunovant (NASDAQ:IMVT)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a report released on Friday,Benzinga reports. They presently have a $51.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 150.28% from the company’s previous close.

IMVT has been the topic of a number of other reports. Bank of America reduced their price target 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 target price on shares of Immunovant in a report on Thursday, October 10th. Cantor Fitzgerald raised Immunovant to a “strong-buy” rating in a report on Thursday, January 30th. Wells Fargo & Company reduced their price objective on Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, Wolfe Research lowered Immunovant from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $47.00.

Immunovant Trading Up 0.1 %

NASDAQ:IMVT traded up $0.02 during mid-day trading on Friday, hitting $20.38. The company’s stock had a trading volume of 1,257,351 shares, compared to its average volume of 1,265,662. The stock has a fifty day moving average of $24.91 and a 200-day moving average of $27.84. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of -9.18 and a beta of 0.65. Immunovant has a fifty-two week low of $19.86 and a fifty-two week high of $39.55.

Immunovant (NASDAQ:IMVT) last posted its earnings results on Monday, February 10th. The company reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.08). On average, equities analysts anticipate that Immunovant will post -2.84 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Eva Renee Barnett sold 4,174 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $25.45, for a total value of $106,228.30. Following the sale, the chief financial officer now directly owns 331,169 shares in the company, valued at $8,428,251.05. The trade was a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sciences Ltd. Roivant bought 16,845,010 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was purchased at an average cost of $20.00 per share, for a total transaction of $336,900,200.00. Following the transaction, the director now owns 96,650,341 shares in the company, valued at $1,933,006,820. The trade was a 21.11 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 72,892 shares of company stock valued at $1,811,857. 5.90% of the stock is currently owned by insiders.

Institutional Trading of Immunovant

Several institutional investors and hedge funds have recently bought and sold shares of the stock. KBC Group NV raised its holdings in shares of Immunovant by 46.2% in the 3rd 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 period. Assetmark Inc. lifted its position in shares of Immunovant by 73.8% in the third quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock valued at $82,000 after buying an additional 1,228 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Immunovant by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock valued at $148,000 after buying an additional 934 shares during the last quarter. Bank Pictet & Cie Europe AG bought a new position in shares of Immunovant during the 3rd quarter worth approximately $261,000. Finally, Aigen Investment Management LP acquired a new position in shares of Immunovant during the 4th quarter worth approximately $270,000. 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.