Immunovant, Inc. (NASDAQ:IMVT) Receives $47.22 Average Price Target from Analysts

Immunovant, Inc. (NASDAQ:IMVT) has been assigned a consensus rating of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $47.00.

IMVT has been the topic of several recent analyst reports. Wolfe Research downgraded shares of Immunovant from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. HC Wainwright restated a “buy” rating and issued a $51.00 price target on shares of Immunovant in a report on Friday, November 8th. Wells Fargo & Company cut their price target on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Oppenheimer upped their price target on shares of Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Finally, Bank of America dropped their target price on shares of Immunovant from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday.

Immunovant Trading Up 6.6 %

Shares of IMVT opened at $24.40 on Monday. Immunovant has a twelve month low of $22.41 and a twelve month high of $42.44. The company has a market cap of $3.58 billion, a P/E ratio of -10.99 and a beta of 0.66. The company’s fifty day simple moving average is $26.79 and its 200-day simple moving average is $28.56.

Immunovant (NASDAQ:IMVT) last announced its earnings results on Thursday, November 7th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.15). During the same quarter last year, the firm earned ($0.45) EPS. Analysts predict that Immunovant will post -2.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Immunovant

In other Immunovant news, insider Mark S. Levine sold 4,361 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $29.53, for a total transaction of $128,780.33. Following the completion of the sale, the insider now directly owns 322,878 shares of the company’s stock, valued at approximately $9,534,587.34. This represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Sciences Ltd. Roivant purchased 16,845,010 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were purchased at an average cost of $20.00 per share, with a total value of $336,900,200.00. Following the completion of the transaction, the director now owns 96,650,341 shares of the company’s stock, valued at approximately $1,933,006,820. The trade was a 21.11 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 61,693 shares of company stock valued at $1,586,625. 5.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Immunovant

Hedge funds and other institutional investors have recently modified their holdings of the stock. KBC Group NV raised its position 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 last quarter. Quest Partners LLC raised its position in shares of Immunovant by 216.7% in the 2nd quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock valued at $69,000 after purchasing an additional 1,786 shares during the last quarter. Assetmark Inc. raised its position in shares of Immunovant by 73.8% in the 3rd quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock valued at $82,000 after purchasing an additional 1,228 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Immunovant in the 2nd quarter valued at approximately $77,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position 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 purchasing an additional 934 shares during the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

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.