Immunovant (IMVT) Set to Announce Earnings on Wednesday

Immunovant (NASDAQ:IMVT – Get Rating) will be releasing its earnings data before the market opens on Wednesday, June 8th. Analysts expect Immunovant to post earnings of ($0.38) per share for the quarter.

Shares of IMVT stock traded up $0.02 during mid-day trading on Tuesday, hitting $4.16. 456 shares of the stock were exchanged, compared to its average volume of 363,349. The stock’s fifty day simple moving average is $4.59 and its two-hundred day simple moving average is $6.01. The stock has a market capitalization of $484.22 million, a price-to-earnings ratio of -3.18 and a beta of 0.97. Immunovant has a 12-month low of $3.55 and a 12-month high of $11.61.

In other news, insider Julia G. Butchko sold 6,381 shares of Immunovant stock in a transaction that occurred on Thursday, March 24th. The shares were sold at an average price of $5.90, for a total transaction of $37,647.90. Following the completion of the sale, the insider now directly owns 283,107 shares in the company, valued at approximately $1,670,331.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Peter Salzmann sold 19,227 shares of Immunovant stock in a transaction that occurred on Thursday, March 24th. The shares were sold at an average price of $5.90, for a total transaction of $113,439.30. Following the sale, the chief executive officer now owns 558,728 shares of the company’s stock, valued at $3,296,495.20. The disclosure for this sale can be found here. Insiders sold a total of 31,126 shares of company stock worth $175,668 in the last ninety days. 1.90% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada raised its position in shares of Immunovant by 41.5% during the 3rd quarter. Royal Bank of Canada now owns 4,398 shares of the company’s stock worth $38,000 after purchasing an additional 1,289 shares during the last quarter. Credit Suisse AG raised its position in shares of Immunovant by 9.4% during the 4th quarter. Credit Suisse AG now owns 23,460 shares of the company’s stock worth $200,000 after purchasing an additional 2,020 shares during the last quarter. Ensign Peak Advisors Inc acquired a new position in shares of Immunovant during the 4th quarter worth approximately $31,000. Hsbc Holdings PLC raised its position in shares of Immunovant by 4.6% during the 1st quarter. Hsbc Holdings PLC now owns 109,939 shares of the company’s stock worth $615,000 after purchasing an additional 4,866 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in shares of Immunovant by 9.8% during the 4th quarter. California State Teachers Retirement System now owns 55,335 shares of the company’s stock worth $471,000 after purchasing an additional 4,939 shares during the last quarter. Institutional investors own 32.53% of the company’s stock.

A number of equities analysts recently issued reports on IMVT shares. HC Wainwright reissued a “buy” rating and set a $16.00 price target on shares of Immunovant in a report on Monday, February 7th. Chardan Capital lowered their price target on Immunovant from $20.00 to $14.00 in a report on Wednesday, March 30th. Finally, UBS Group lowered their price target on Immunovant to $7.00 in a report on Friday, May 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $10.71.

Immunovant Company Profile (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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