Immunovant (NASDAQ:IMVT) Sets New 52-Week High at $19.99

Immunovant, Inc. (NASDAQ:IMVTGet Rating)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $19.99 and last traded at $19.99, with a volume of 618 shares trading hands. The stock had previously closed at $19.72.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Truist Financial increased their price target on Immunovant to $30.00 in a report on Thursday, November 17th. SVB Leerink increased their price target on Immunovant from $12.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, November 4th. Chardan Capital increased their price target on Immunovant from $12.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, November 7th. Wells Fargo & Company upgraded Immunovant from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $10.00 to $27.00 in a report on Monday, January 2nd. Finally, HC Wainwright increased their price target on Immunovant from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, November 7th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.86.

Immunovant Stock Performance

The firm has a fifty day simple moving average of $14.82 and a 200 day simple moving average of $9.10. The company has a market capitalization of $2.40 billion, a PE ratio of -12.15 and a beta of 1.03.

Immunovant (NASDAQ:IMVTGet Rating) last released its quarterly earnings data on Friday, November 4th. The company reported ($0.41) EPS for the quarter, hitting the consensus estimate of ($0.41). Research analysts expect that Immunovant, Inc. will post -1.56 EPS for the current fiscal year.

Insider Activity

In other news, CEO Peter Salzmann sold 2,793 shares of Immunovant stock in a transaction on Thursday, October 13th. The stock was sold at an average price of $9.18, for a total value of $25,639.74. Following the transaction, the chief executive officer now directly owns 997,953 shares in the company, valued at approximately $9,161,208.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 4,062 shares of company stock worth $37,456. 3.00% of the stock is currently owned by company insiders.

Institutional Trading of Immunovant

A number of institutional investors have recently made changes to their positions in IMVT. Swiss National Bank boosted its position in shares of Immunovant by 7.2% in the 1st quarter. Swiss National Bank now owns 95,100 shares of the company’s stock worth $524,000 after purchasing an additional 6,400 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Immunovant by 205.6% in the 1st quarter. JPMorgan Chase & Co. now owns 461,582 shares of the company’s stock worth $2,543,000 after purchasing an additional 310,520 shares in the last quarter. MetLife Investment Management LLC boosted its position in shares of Immunovant by 423.9% in the 1st quarter. MetLife Investment Management LLC now owns 25,184 shares of the company’s stock worth $139,000 after purchasing an additional 20,377 shares in the last quarter. BlackRock Inc. boosted its position in shares of Immunovant by 0.9% in the 1st quarter. BlackRock Inc. now owns 3,353,866 shares of the company’s stock worth $18,479,000 after purchasing an additional 28,865 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Immunovant by 148.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 690,965 shares of the company’s stock worth $3,807,000 after purchasing an additional 412,997 shares in the last quarter. Institutional investors and hedge funds own 32.77% of the company’s stock.

Immunovant Company Profile

(Get Rating)

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 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 completed initiation of Phase II clinical trials for the treatment of warm autoimmune hemolytic anemia.

Read More

Receive News & Ratings for Immunovant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Immunovant and related companies with MarketBeat.com's FREE daily email newsletter.