Immunovant’s (IMVT) “Neutral” Rating Reiterated at UBS Group

UBS Group reaffirmed their neutral rating on shares of Immunovant (NASDAQ:IMVT) in a report published on Tuesday morning, MarketBeat.com reports. UBS Group currently has a $17.00 target price on the stock, down from their prior target price of $38.00.

IMVT has been the subject of a number of other reports. Cantor Fitzgerald upgraded shares of Immunovant to a “strong-buy” rating in a report on Tuesday, March 4th. Guggenheim reaffirmed a “buy” rating on shares of Immunovant in a research report on Thursday, March 20th. Bank of America dropped their price target on Immunovant from $38.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. HC Wainwright reissued a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a research note on Wednesday, March 19th. Finally, Wolfe Research lowered Immunovant from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.33.

Immunovant Price Performance

Shares of NASDAQ:IMVT opened at $15.07 on Tuesday. Immunovant has a 1 year low of $12.72 and a 1 year high of $34.47. The business’s 50-day moving average is $17.62 and its 200-day moving average is $23.22. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of -5.75 and a beta of 0.81.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings results on Monday, February 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.08). Analysts anticipate that Immunovant will post -2.69 EPS for the current year.

Insider Transactions at Immunovant

In related news, Director Andrew J. Fromkin sold 8,000 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $19.60, for a total transaction of $156,800.00. Following the completion of the transaction, the director now owns 91,913 shares in the company, valued at approximately $1,801,494.80. This represents a 8.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Peter Salzmann sold 8,321 shares of Immunovant stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $14.89, for a total transaction of $123,899.69. Following the completion of the sale, the chief executive officer now directly owns 1,178,191 shares in the company, valued at approximately $17,543,263.99. This represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,408 shares of company stock worth $690,207 in the last quarter. 5.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Immunovant

Large investors have recently modified their holdings of the stock. FNY Investment Advisers LLC bought a new position in Immunovant during the first quarter valued at $34,000. GF Fund Management CO. LTD. bought a new position in shares of Immunovant during the 4th quarter worth $76,000. KBC Group NV increased its holdings in Immunovant by 60.1% in the 4th quarter. KBC Group NV now owns 3,099 shares of the company’s stock worth $77,000 after acquiring an additional 1,163 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Immunovant by 21.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,928 shares of the company’s stock valued at $109,000 after acquiring an additional 1,037 shares during the period. Finally, Ameriprise Financial Inc. purchased a new stake in Immunovant during the fourth quarter valued at about $221,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

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 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.