Immunovant, Inc. (NASDAQ:IMVT) Receives Consensus Rating of “Hold” from Analysts

Shares of Immunovant, Inc. (NASDAQ:IMVTGet Rating) have been given a consensus recommendation of “Hold” by the ten ratings firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $11.43.

Several equities research analysts recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $16.00 price objective on shares of Immunovant in a report on Monday, February 7th. Chardan Capital cut their price objective on Immunovant from $20.00 to $14.00 in a report on Wednesday, March 30th.

IMVT stock opened at $4.02 on Tuesday. The company has a market capitalization of $467.91 million, a PE ratio of -3.07 and a beta of 0.96. Immunovant has a 12-month low of $3.71 and a 12-month high of $16.05. The business’s fifty day moving average price is $5.08 and its 200 day moving average price is $6.48.

In other news, CEO Peter Salzmann sold 19,227 shares of the company’s stock in a transaction dated Thursday, March 24th. The stock was sold at an average price of $5.90, for a total transaction of $113,439.30. Following the completion of the transaction, the chief executive officer now directly owns 558,728 shares of the company’s stock, valued at approximately $3,296,495.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Julia G. Butchko sold 6,381 shares of the company’s stock in a transaction dated Thursday, March 24th. The stock was sold at an average price of $5.90, for a total value of $37,647.90. Following the transaction, the insider now directly owns 283,107 shares of the company’s stock, valued at $1,670,331.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,163 shares of company stock worth $168,229. 1.90% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. acquired a new position in shares of Immunovant during the 3rd quarter worth about $26,000. Ensign Peak Advisors Inc acquired a new stake in shares of Immunovant in the 4th quarter valued at about $31,000. Royal Bank of Canada boosted its position in shares of Immunovant by 41.5% in the 3rd quarter. Royal Bank of Canada now owns 4,398 shares of the company’s stock valued at $38,000 after purchasing an additional 1,289 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Immunovant by 43.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,076 shares of the company’s stock valued at $44,000 after purchasing an additional 2,445 shares during the period. Finally, Prospera Financial Services Inc acquired a new stake in shares of Immunovant in the 1st quarter valued at about $50,000. 32.53% of the stock is owned by institutional investors and hedge funds.

About Immunovant (Get Rating)

Immunovant, Inc, a clinical-stage biopharmaceutical company, develops monoclonal antibodies for the treatment of autoimmune diseases. It develops IMVT-1401, a novel fully human monoclonal antibody that selectively binds to and inhibits the neonatal fragment crystallizable receptor, which is in Phase IIa clinical trials for the treatment of myasthenia gravis and thyroid eye disease, as well as has completed initiation of Phase II clinical trials for the treatment of warm autoimmune hemolytic anemia.

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Analyst Recommendations for Immunovant (NASDAQ:IMVT)

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