Immunovant (NASDAQ:IMVT) Given “Neutral” Rating at UBS Group

Immunovant (NASDAQ:IMVT)‘s stock had its “neutral” rating reaffirmed by equities research analysts at UBS Group in a research note issued on Tuesday,Benzinga reports. They currently have a $17.00 price objective on the stock, down from their previous price objective of $38.00. UBS Group’s price target points to a potential upside of 17.57% from the stock’s previous close.

IMVT has been the topic of several other reports. HC Wainwright reaffirmed a “buy” rating and set a $51.00 price objective on shares of Immunovant in a report on Wednesday, March 19th. Cantor Fitzgerald raised shares of Immunovant to a “strong-buy” rating in a research note on Tuesday, March 4th. Bank of America reduced their target price on shares of Immunovant from $38.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Guggenheim reissued a “buy” rating on shares of Immunovant in a research note on Thursday, March 20th. Finally, Jefferies Financial Group assumed coverage on Immunovant in a report on Monday, March 3rd. They issued a “hold” rating and a $20.00 target price for the company. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.33.

Immunovant Trading Down 4.6 %

Shares of IMVT opened at $14.46 on Tuesday. Immunovant has a 12-month low of $12.72 and a 12-month high of $34.47. The company has a market capitalization of $2.46 billion, a PE ratio of -5.52 and a beta of 0.81. The business’s 50 day moving average is $17.96 and its 200 day moving average is $23.45.

Immunovant (NASDAQ:IMVT) last issued its earnings results on Monday, February 10th. The company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.08). Equities research analysts predict that Immunovant will post -2.69 earnings per share for the current year.

Insider Buying and Selling at Immunovant

In other news, CEO Peter Salzmann sold 28,094 shares of the company’s stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $12.99, for a total value of $364,941.06. Following the transaction, the chief executive officer now directly owns 1,186,512 shares in the company, valued at approximately $15,412,790.88. This represents a 2.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Eva Renee Barnett sold 2,993 shares of Immunovant stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $14.89, for a total transaction of $44,565.77. Following the sale, the chief financial officer now owns 396,774 shares of the company’s stock, valued at $5,907,964.86. The trade was a 0.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,260 shares of company stock valued at $804,665 in the last quarter. 5.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. KBC Group NV grew its position in shares of Immunovant by 60.1% during the 4th quarter. KBC Group NV now owns 3,099 shares of the company’s stock worth $77,000 after buying an additional 1,163 shares in the last quarter. Rhumbline Advisers grew its holdings in Immunovant by 1.5% during the 4th quarter. Rhumbline Advisers now owns 80,932 shares of the company’s stock worth $2,005,000 after acquiring an additional 1,188 shares in the last quarter. Swiss National Bank increased its position in Immunovant by 1.2% during the 4th quarter. Swiss National Bank now owns 100,800 shares of the company’s stock valued at $2,497,000 after purchasing an additional 1,200 shares during the period. Tyro Capital Management LLC raised its holdings in shares of Immunovant by 0.6% in the 3rd quarter. Tyro Capital Management LLC now owns 252,149 shares of the company’s stock valued at $7,189,000 after purchasing an additional 1,529 shares in the last quarter. Finally, Sei Investments Co. lifted its position in shares of Immunovant by 4.0% in the 4th quarter. Sei Investments Co. now owns 40,456 shares of the company’s stock worth $1,002,000 after purchasing an additional 1,541 shares during the period. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

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.