Immunovant (NASDAQ:IMVT) Now Covered by Jefferies Financial Group

Jefferies Financial Group started coverage on shares of Immunovant (NASDAQ:IMVT) in a report issued on Monday, MarketBeat reports. The firm issued a hold rating and a $20.00 price target on the stock.

IMVT has been the topic of several other reports. Wolfe Research cut Immunovant from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Bank of America reduced their target price on shares of Immunovant from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. Cantor Fitzgerald raised shares of Immunovant to a “strong-buy” rating in a research note on Thursday, January 30th. HC Wainwright reiterated a “buy” rating and set a $51.00 price target on shares of Immunovant in a report on Friday, February 7th. Finally, Wells Fargo & Company decreased their price objective on Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.55.

Immunovant Price Performance

Shares of NASDAQ:IMVT opened at $18.44 on Monday. Immunovant has a one year low of $18.13 and a one year high of $35.97. The company has a market cap of $3.13 billion, a price-to-earnings ratio of -7.04 and a beta of 0.65. The firm has a 50 day simple moving average of $22.34 and a 200 day simple moving average of $26.81.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings results on Monday, February 10th. The company reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.08). As a group, analysts expect that Immunovant will post -2.69 EPS for the current year.

Insider Activity at Immunovant

In other Immunovant news, CEO Peter Salzmann sold 5,105 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 $123,030.50. Following the completion of the sale, the chief executive officer now directly owns 972,992 shares of the company’s stock, valued at approximately $23,449,107.20. The trade was a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Eva Renee Barnett sold 4,105 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $24.10, for a total transaction of $98,930.50. Following the transaction, the chief financial officer now directly owns 327,064 shares in the company, valued at $7,882,242.40. This trade represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,510 shares of company stock worth $656,886 in the last 90 days. Corporate insiders own 5.90% of the company’s stock.

Institutional Trading of Immunovant

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in Immunovant by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock valued at $148,000 after acquiring an additional 934 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Immunovant by 69.9% in the 3rd quarter. Principal Financial Group Inc. now owns 951,124 shares of the company’s stock worth $27,117,000 after purchasing an additional 391,436 shares in the last quarter. Assetmark Inc. grew its position in Immunovant by 73.8% in the 3rd quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock valued at $82,000 after purchasing an additional 1,228 shares during the period. GSA Capital Partners LLP increased its stake in Immunovant by 66.2% during the 3rd quarter. GSA Capital Partners LLP now owns 24,634 shares of the company’s stock valued at $702,000 after purchasing an additional 9,810 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Immunovant by 7.4% during the third quarter. Victory Capital Management Inc. now owns 335,360 shares of the company’s stock worth $9,561,000 after buying an additional 22,990 shares during the last quarter. 47.08% of the stock is owned by institutional investors.

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.