Immunovant’s (IMVT) Buy Rating Reaffirmed at Guggenheim

Guggenheim reiterated their buy rating on shares of Immunovant (NASDAQ:IMVT) in a research report report published on Monday morning,Benzinga reports.

Other research analysts have also recently issued reports about the stock. HC Wainwright reissued a “buy” rating and set a $51.00 target price on shares of Immunovant in a research report on Friday, February 7th. Jefferies Financial Group assumed coverage on shares of Immunovant in a report on Monday, March 3rd. They issued a “hold” rating and a $20.00 price objective on the stock. Cantor Fitzgerald upgraded Immunovant to a “strong-buy” rating in a research note on Tuesday, March 4th. Wolfe Research lowered Immunovant from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company reduced their price target on Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Immunovant has an average rating of “Buy” and a consensus target price of $43.55.

Immunovant Trading Up 1.4 %

Shares of NASDAQ IMVT opened at $20.30 on Monday. The stock has a fifty day moving average price of $21.77 and a 200 day moving average price of $26.40. The company has a market cap of $3.45 billion, a P/E ratio of -7.75 and a beta of 0.68. Immunovant has a 12-month low of $17.65 and a 12-month high of $35.97.

Immunovant (NASDAQ:IMVT) last posted its earnings results on Monday, February 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.08). On average, sell-side analysts forecast that Immunovant will post -2.69 EPS for the current fiscal year.

Insider Activity

In other Immunovant news, CFO Eva Renee Barnett sold 4,105 shares of Immunovant stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $24.10, for a total value of $98,930.50. Following the completion of the transaction, the chief financial officer now owns 327,064 shares of the company’s stock, valued at $7,882,242.40. The trade was a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Sciences Ltd. Roivant bought 16,845,010 shares of the stock in a transaction on Monday, January 13th. The shares were acquired at an average price of $20.00 per share, with a total value of $336,900,200.00. Following the purchase, the director now owns 96,650,341 shares of the company’s stock, valued at $1,933,006,820. The trade was a 21.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 27,510 shares of company stock worth $656,886. 5.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Immunovant

A number of large investors have recently bought and sold shares of IMVT. KBC Group NV grew its holdings in shares of Immunovant by 46.2% during 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. Assetmark Inc. grew its stake in Immunovant by 73.8% during the 3rd quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock worth $82,000 after buying an additional 1,228 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in Immunovant during the 4th quarter worth $76,000. Ameriprise Financial Inc. acquired a new stake in Immunovant in the fourth quarter worth $221,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Immunovant in the fourth quarter valued at $268,000. Institutional investors own 47.08% of the company’s stock.

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.