Immunovant, Inc. (NASDAQ:IMVT) Receives Consensus Rating of “Moderate Buy” from Analysts

Immunovant, Inc. (NASDAQ:IMVT) has received a consensus rating of “Moderate Buy” from the twelve brokerages that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $35.20.

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Immunovant from $40.00 to $37.00 and set an “overweight” rating for the company in a report on Tuesday, August 12th. Bank of America cut their price objective on shares of Immunovant from $33.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, August 12th. Citigroup reaffirmed a “buy” rating on shares of Immunovant in a report on Monday, August 11th. UBS Group upped their price target on shares of Immunovant from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, July 28th. Finally, The Goldman Sachs Group raised shares of Immunovant to a “hold” rating and set a $18.00 price target for the company in a report on Thursday, July 10th.

Insider Buying and Selling

In other news, CTO Jay S. Stout sold 2,805 shares of the company’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $18.15, for a total transaction of $50,910.75. Following the completion of the sale, the chief technology officer owned 204,919 shares of the company’s stock, valued at approximately $3,719,279.85. This represents a 1.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael Geffner sold 2,385 shares of the company’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $18.15, for a total transaction of $43,287.75. Following the sale, the insider directly owned 221,825 shares of the company’s stock, valued at approximately $4,026,123.75. This trade represents a 1.06% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,869 shares of company stock valued at $140,384. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Immunovant

A number of institutional investors have recently added to or reduced their stakes in IMVT. Strs Ohio acquired a new position in Immunovant during the 1st quarter worth approximately $27,000. FNY Investment Advisers LLC acquired a new position in Immunovant during the 1st quarter worth approximately $34,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Immunovant during the 1st quarter worth approximately $37,000. Farther Finance Advisors LLC increased its position in Immunovant by 142,750.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,857 shares of the company’s stock valued at $46,000 after acquiring an additional 2,855 shares during the period. Finally, Headlands Technologies LLC acquired a new position in Immunovant in the 1st quarter valued at approximately $51,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Immunovant Stock Down 2.3%

NASDAQ IMVT opened at $14.89 on Tuesday. The company has a market capitalization of $2.60 billion, a P/E ratio of -5.22 and a beta of 0.66. Immunovant has a 12-month low of $12.72 and a 12-month high of $34.47. The firm has a 50-day moving average price of $16.37 and a two-hundred day moving average price of $16.60.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.09. During the same quarter in the prior year, the company posted ($0.60) earnings per share. Equities analysts expect that Immunovant will post -2.69 EPS for the current year.

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.