Shares of Immunovant, Inc. (NASDAQ:IMVT – Get Rating) have earned an average rating of “Moderate Buy” from the nine ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $21.22.
A number of research analysts have issued reports on the company. Chardan Capital boosted their target price on Immunovant from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Sunday, February 5th. HC Wainwright increased their price target on Immunovant from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, February 7th. Truist Financial raised their target price on Immunovant to $30.00 in a report on Thursday, November 17th. Cantor Fitzgerald initiated coverage on Immunovant in a report on Wednesday, February 15th. They set an “overweight” rating and a $30.00 price objective on the stock. Finally, Wells Fargo & Company raised Immunovant from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $10.00 to $27.00 in a research report on Monday, January 2nd.
Insider Buying and Selling
In other Immunovant news, CEO Peter Salzmann sold 4,021 shares of Immunovant stock in a transaction that occurred on Wednesday, January 11th. The shares were sold at an average price of $16.80, for a total value of $67,552.80. Following the completion of the sale, the chief executive officer now owns 993,932 shares of the company’s stock, valued at approximately $16,698,057.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Julia G. Butchko sold 60,490 shares of the company’s stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $16.79, for a total transaction of $1,015,627.10. Following the sale, the insider now directly owns 331,419 shares in the company, valued at approximately $5,564,525.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Peter Salzmann sold 4,021 shares of the company’s stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $16.80, for a total transaction of $67,552.80. Following the transaction, the chief executive officer now owns 993,932 shares in the company, valued at $16,698,057.60. The disclosure for this sale can be found here. Insiders sold a total of 79,714 shares of company stock worth $1,356,505 in the last three months. Insiders own 3.00% of the company’s stock.
Institutional Investors Weigh In On Immunovant
Immunovant Stock Performance
Shares of IMVT opened at $15.55 on Friday. The stock has a fifty day moving average price of $17.90 and a two-hundred day moving average price of $13.08. Immunovant has a 52-week low of $3.14 and a 52-week high of $20.24. The company has a market cap of $2.03 billion, a price-to-earnings ratio of -9.37 and a beta of 1.00.
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 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.
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