Immunovant, Inc. (NASDAQ:IMVT) Receives $48.10 Average Target Price from Analysts

Immunovant, Inc. (NASDAQ:IMVT) has earned a consensus recommendation of “Buy” from the eleven ratings firms that are presently covering the stock, Marketbeat reports. Eleven research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $48.10.

IMVT has been the subject of a number of recent research reports. 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. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunovant in a research note on Monday, September 9th. HC Wainwright reaffirmed a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a research note on Friday, November 8th. Oppenheimer boosted their target price on Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. lowered their price target on Immunovant from $51.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th.

Insider Activity

In other Immunovant news, CFO Eva Renee Barnett sold 5,162 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $29.56, for a total transaction of $152,588.72. Following the completion of the sale, the chief financial officer now owns 338,614 shares in the company, valued at $10,009,429.84. This represents a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William L. Macias sold 3,188 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $28.79, for a total transaction of $91,782.52. Following the sale, the insider now directly owns 365,144 shares of the company’s stock, valued at $10,512,495.76. The trade was a 0.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,659 shares of company stock valued at $2,096,890. 5.90% of the stock is currently owned by company insiders.

Institutional Trading of Immunovant

A number of hedge funds and other institutional investors have recently made changes to their positions in IMVT. KBC Group NV boosted its holdings in Immunovant by 46.2% in 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 shares of Immunovant by 216.7% in the second quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock worth $69,000 after buying an additional 1,786 shares during the last quarter. Assetmark Inc. grew its holdings in Immunovant by 73.8% during the third 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 period. Headlands Technologies LLC acquired a new stake in Immunovant during the second quarter worth about $77,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Immunovant by 21.4% during the third 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. Institutional investors and hedge funds own 47.08% of the company’s stock.

Immunovant Trading Up 1.0 %

Shares of Immunovant stock opened at $27.16 on Friday. The firm has a market cap of $3.99 billion, a PE ratio of -12.23 and a beta of 0.66. The stock has a 50 day moving average of $28.99 and a 200 day moving average of $28.86. Immunovant has a 12 month low of $24.61 and a 12 month high of $45.58.

Immunovant (NASDAQ:IMVT) last posted its earnings results on Thursday, November 7th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.15). During the same quarter in the previous year, the company posted ($0.45) earnings per share. As a group, equities research analysts forecast that Immunovant will post -2.7 earnings per share for the current fiscal 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.