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

Shares of Immunovant, Inc. (NASDAQ:IMVT) have earned an average rating of “Buy” from the seventeen research firms that are covering the firm, MarketBeat.com reports. Seventeen equities research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $48.00.

A number of equities analysts recently issued reports on IMVT shares. The Goldman Sachs Group started coverage on shares of Immunovant in a research note on Wednesday, March 13th. They issued a “buy” rating and a $50.00 price target for the company. Wolfe Research initiated coverage on Immunovant in a research note on Thursday, February 15th. They issued an “outperform” rating and a $55.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a research note on Friday, January 12th. Truist Financial reissued a “buy” rating and set a $48.00 price objective on shares of Immunovant in a research report on Monday, March 25th. Finally, Oppenheimer assumed coverage on shares of Immunovant in a report on Thursday, March 28th. They set an “outperform” rating and a $50.00 target price on the stock.

Insider Transactions at Immunovant

In related news, insider Michael Geffner sold 3,261 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $28.90, for a total transaction of $94,242.90. Following the sale, the insider now directly owns 141,616 shares of the company’s stock, valued at $4,092,702.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Immunovant news, insider Julia G. Butchko sold 1,053 shares of Immunovant stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $31.18, for a total value of $32,832.54. Following the completion of the sale, the insider now owns 461,742 shares of the company’s stock, valued at approximately $14,397,115.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael Geffner sold 3,261 shares of the stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $28.90, for a total value of $94,242.90. Following the transaction, the insider now directly owns 141,616 shares in the company, valued at $4,092,702.40. The disclosure for this sale can be found here. Insiders sold 81,560 shares of company stock worth $2,424,601 over the last quarter. 4.80% of the stock is currently owned by insiders.

Institutional Trading of Immunovant

A number of hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in shares of Immunovant by 5.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 192,214 shares of the company’s stock valued at $7,379,000 after purchasing an additional 9,648 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Immunovant by 2.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,401 shares of the company’s stock worth $1,436,000 after buying an additional 1,059 shares during the last quarter. TD Asset Management Inc bought a new stake in Immunovant during the third quarter valued at approximately $1,198,000. Allspring Global Investments Holdings LLC increased its holdings in Immunovant by 56.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,206 shares of the company’s stock valued at $238,000 after buying an additional 2,228 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings in Immunovant by 96.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 3,360 shares of the company’s stock valued at $129,000 after buying an additional 1,651 shares during the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Immunovant Stock Performance

Shares of IMVT stock opened at $29.58 on Wednesday. Immunovant has a fifty-two week low of $17.53 and a fifty-two week high of $45.58. The firm has a market cap of $4.30 billion, a P/E ratio of -16.08 and a beta of 0.70. The business’s 50 day moving average price is $30.89 and its 200-day moving average price is $35.39.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings results on Monday, February 12th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.07. As a group, equities analysts predict that Immunovant will post -1.7 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.