Analysts Set Immunovant, Inc. (NASDAQ:IMVT) Price Target at $47.22

Immunovant, Inc. (NASDAQ:IMVT) has received an average recommendation of “Moderate Buy” from the eleven analysts that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $47.00.

A number of equities analysts have issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a report on Friday, November 8th. Oppenheimer increased their price objective on Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Raymond James reiterated an “outperform” rating and issued a $36.00 price objective on shares of Immunovant in a report on Thursday, October 10th. Bank of America decreased their price objective on Immunovant from $48.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Wolfe Research downgraded Immunovant from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd.

Insider Buying and Selling

In other Immunovant news, Director Sciences Ltd. Roivant acquired 16,845,010 shares of Immunovant stock in a transaction that occurred on Monday, January 13th. The stock was bought at an average cost of $20.00 per share, for a total transaction of $336,900,200.00. Following the acquisition, the director now owns 96,650,341 shares of the company’s stock, valued at $1,933,006,820. This represents a 21.11 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider William L. Macias sold 2,383 shares of Immunovant stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $23.83, for a total value of $56,786.89. Following the completion of the sale, the insider now owns 359,408 shares of the company’s stock, valued at $8,564,692.64. The trade was a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,141 shares of company stock worth $1,907,091. 5.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. KBC Group NV boosted its position in Immunovant by 46.2% in the third quarter. KBC Group NV now owns 1,936 shares of the company’s stock worth $55,000 after purchasing an additional 612 shares during the last quarter. Quest Partners LLC boosted its position in Immunovant by 216.7% in the second quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock worth $69,000 after purchasing an additional 1,786 shares during the last quarter. Assetmark Inc. boosted its position in Immunovant by 73.8% in the third quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock worth $82,000 after purchasing an additional 1,228 shares during the last quarter. Headlands Technologies LLC purchased a new position in Immunovant in the second quarter worth about $77,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position 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 worth $148,000 after purchasing an additional 934 shares during the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

Immunovant Stock Up 0.3 %

Shares of IMVT stock opened at $23.86 on Monday. The stock has a fifty day moving average of $26.53 and a 200 day moving average of $28.50. Immunovant has a 52 week low of $22.41 and a 52 week high of $41.38. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of -10.75 and a beta of 0.66.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.15). During the same period last year, the company posted ($0.45) earnings per share. Equities research analysts anticipate that Immunovant will post -2.75 earnings per share for the current year.

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.