Immunovant, Inc. (NASDAQ:IMVT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Immunovant, Inc. (NASDAQ:IMVT) have received a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $28.7778.

A number of equities analysts have issued reports on the stock. HC Wainwright restated a “buy” rating and set a $35.00 target price on shares of Immunovant in a research report on Thursday, September 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Immunovant in a research report on Tuesday, October 14th. Truist Financial began coverage on Immunovant in a research note on Tuesday, October 14th. They issued a “hold” rating and a $16.00 target price on the stock. Bank of America lowered their target price on Immunovant from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, August 12th. Finally, Citigroup reissued a “buy” rating on shares of Immunovant in a report on Monday, August 11th.

Immunovant Stock Performance

IMVT opened at $22.71 on Thursday. The business’s fifty day moving average is $20.65 and its two-hundred day moving average is $17.59. The company has a market cap of $3.98 billion, a price-to-earnings ratio of -8.00 and a beta of 0.56. Immunovant has a one year low of $12.72 and a one year high of $29.49.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.01). During the same period last year, the business earned ($0.74) earnings per share. On average, analysts predict that Immunovant will post -2.69 EPS for the current fiscal year.

Insider Transactions at Immunovant

In other Immunovant news, COO Melanie Gloria sold 12,626 shares of Immunovant stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $23.62, for a total value of $298,226.12. Following the transaction, the chief operating officer owned 173,511 shares in the company, valued at $4,098,329.82. This trade represents a 6.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andrew J. Fromkin sold 22,249 shares of the company’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $23.25, for a total value of $517,289.25. Following the completion of the sale, the director directly owned 85,852 shares of the company’s stock, valued at $1,996,059. The trade was a 20.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 57,847 shares of company stock worth $1,308,023 in the last ninety days. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Immunovant

Several large investors have recently modified their holdings of IMVT. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Immunovant by 66.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,044 shares of the company’s stock worth $223,000 after acquiring an additional 5,200 shares in the last quarter. ABC Arbitrage SA grew its stake in Immunovant by 26.4% during the 1st quarter. ABC Arbitrage SA now owns 37,449 shares of the company’s stock valued at $640,000 after purchasing an additional 7,810 shares in the last quarter. Vanguard Group Inc. increased its holdings in Immunovant by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 6,936,859 shares of the company’s stock worth $118,551,000 after purchasing an additional 257,445 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Immunovant by 11.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 626,612 shares of the company’s stock valued at $10,709,000 after purchasing an additional 62,170 shares in the last quarter. Finally, Deutsche Bank AG raised its position in shares of Immunovant by 147.2% in the 1st quarter. Deutsche Bank AG now owns 411,509 shares of the company’s stock valued at $7,033,000 after purchasing an additional 245,037 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.

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.