Analysts Set Immunovant, Inc. (NASDAQ:IMVT) PT at $41.00

Immunovant, Inc. (NASDAQ:IMVT) has earned a consensus rating of “Buy” from the ten brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $41.00.

A number of research firms have recently weighed in on IMVT. Bank of America cut their target price on Immunovant from $38.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. Guggenheim reaffirmed a “buy” rating on shares of Immunovant in a research report on Thursday, March 20th. Wells Fargo & Company decreased their target price 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. Jefferies Financial Group began coverage on shares of Immunovant in a report on Monday, March 3rd. They set a “hold” rating and a $20.00 price target for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $51.00 price target on shares of Immunovant in a research report on Wednesday, March 19th.

Insider Activity at Immunovant

In other Immunovant news, Director Sciences Ltd. Roivant acquired 16,845,010 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was acquired at an average price of $20.00 per share, for a total transaction of $336,900,200.00. Following the acquisition, the director now directly owns 96,650,341 shares in the company, valued at $1,933,006,820. This represents a 21.11 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Jay S. Stout sold 2,195 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $23.59, for a total transaction of $51,780.05. Following the sale, the chief technology officer now directly owns 139,991 shares in the company, valued at $3,302,387.69. The trade was a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,510 shares of company stock valued at $813,686 in the last 90 days. 5.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IMVT. GF Fund Management CO. LTD. acquired a new stake in shares of Immunovant in the fourth quarter valued at about $76,000. KBC Group NV increased its position in Immunovant by 60.1% during the 4th quarter. KBC Group NV now owns 3,099 shares of the company’s stock valued at $77,000 after purchasing an additional 1,163 shares during the period. Ameriprise Financial Inc. bought a new position in Immunovant during the 4th quarter worth approximately $221,000. KLP Kapitalforvaltning AS bought a new position in Immunovant during the 4th quarter worth approximately $268,000. Finally, Aigen Investment Management LP acquired a new position in shares of Immunovant in the 4th quarter worth approximately $270,000. 47.08% of the stock is owned by institutional investors.

Immunovant Trading Down 7.0 %

Immunovant stock opened at $17.09 on Friday. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of -6.52 and a beta of 0.68. Immunovant has a 12 month low of $16.72 and a 12 month high of $34.47. The stock’s 50 day moving average is $20.23 and its 200-day moving average is $25.10.

Immunovant (NASDAQ:IMVT) last posted its earnings results on Monday, February 10th. The company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.08). As a group, equities research analysts predict that Immunovant will post -2.69 earnings per share 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.