Immunovant (NASDAQ:IMVT) Issues Earnings Results

Immunovant (NASDAQ:IMVT) announced its quarterly earnings data on Thursday. The company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.12), FiscalAI reports. The business had revenue of $7.09 million during the quarter, compared to analyst estimates of $7.09 million. During the same period last year, the firm earned ($0.71) EPS.

Here are the key takeaways from Immunovant’s conference call:

• Brexpiprazole’s potential dermatomyositis launch remains on track for late September following priority review, with commercial and patient-support teams in place. Management emphasized a “slow and steady” rollout focused on building access and a broader multi-indication franchise rather than maximizing early sales.
• Roivant has begun enrolling the phase III cutaneous sarcoidosis study after strong phase II results, while the lichen planus program is also enrolling well. Top-line readouts are expected in the second half of 2026 for brexpocitinib in non-infectious uveitis and povorcitinib in PH-ILD, with additional proof-of-concept data in cutaneous lupus.
• Roivant received approximately $950 million from its Moderna settlement, including roughly $772 million attributable to Genevant and Arbutus. Additional potential proceeds include about $1.3 billion from the ongoing ’498 appeal and further litigation against Pfizer and BioNTech.
• The company reported nearly $4 billion in cash before the settlement proceeds and repurchased approximately $200 million of shares during the quarter. Management said buybacks will continue under existing authorizations, citing attractive share-retirement economics.
• Management highlighted substantial execution and clinical risk in the upcoming catalysts: PH-ILD’s key question is whether povorcitinib’s pulmonary vascular effects translate from PAH, while placebo-response variability remains a concern for the NIU study. Roivant expects to provide a fuller update on difficult-to-treat rheumatoid arthritis after randomized-withdrawal data and an FDA discussion later this year.

Immunovant Trading Up 0.5%

IMVT traded up $0.21 during trading on Friday, hitting $39.95. 906,196 shares of the company’s stock traded hands, compared to its average volume of 922,481. The company’s 50 day simple moving average is $37.23 and its two-hundred day simple moving average is $30.59. Immunovant has a 12-month low of $14.32 and a 12-month high of $41.23. The stock has a market capitalization of $8.25 billion, a price-to-earnings ratio of -14.17 and a beta of 0.77.

Insiders Place Their Bets

In other news, COO Melanie Gloria sold 2,036 shares of the business’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $39.55, for a total value of $80,523.80. Following the completion of the transaction, the chief operating officer owned 222,357 shares in the company, valued at $8,794,219.35. The trade was a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Atul Pande sold 1,500 shares of the company’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $38.01, for a total value of $57,015.00. Following the transaction, the director directly owned 116,731 shares in the company, valued at approximately $4,436,945.31. The trade was a 1.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 324,810 shares of company stock worth $11,350,166. 1.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Immunovant

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. RTW Investments LP purchased a new stake in shares of Immunovant during the 4th quarter valued at about $80,781,000. Morgan Stanley raised its holdings in shares of Immunovant by 147.4% during the fourth quarter. Morgan Stanley now owns 4,846,385 shares of the company’s stock valued at $123,195,000 after purchasing an additional 2,887,359 shares during the last quarter. ADAR1 Capital Management LLC lifted its position in Immunovant by 319.0% during the third quarter. ADAR1 Capital Management LLC now owns 2,241,753 shares of the company’s stock valued at $36,137,000 after purchasing an additional 1,706,687 shares during the period. Logos Global Management LP boosted its holdings in Immunovant by 400.0% in the fourth quarter. Logos Global Management LP now owns 1,375,000 shares of the company’s stock worth $34,952,000 after purchasing an additional 1,100,000 shares during the last quarter. Finally, State Street Corp boosted its holdings in Immunovant by 30.9% in the fourth quarter. State Street Corp now owns 3,786,926 shares of the company’s stock worth $96,264,000 after purchasing an additional 894,308 shares during the last quarter. Institutional investors own 47.08% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IMVT. Truist Financial raised their price target on Immunovant from $23.00 to $30.00 and gave the company a “hold” rating in a report on Friday, May 22nd. Bank of America upped their price target on shares of Immunovant from $32.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. The Goldman Sachs Group increased their price objective on shares of Immunovant from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, April 15th. Citigroup raised their price objective on shares of Immunovant from $57.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Finally, HC Wainwright lifted their target price on shares of Immunovant from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $44.00.

About Immunovant

Immunovant Inc is a clinical-stage biopharmaceutical company focused on the development of novel monoclonal antibody therapies that target the neonatal Fc receptor (FcRn) to treat severe autoimmune diseases. By inhibiting FcRn, Immunovant’s approach is designed to reduce levels of pathogenic immunoglobulin G (IgG) antibodies, which play a central role in the pathology of disorders such as myasthenia gravis and immune thrombocytopenia.

The company’s lead asset, efgartigimod, is an engineered Fc fragment that selectively binds to FcRn, accelerating the degradation of circulating IgG.