Immunovant (NASDAQ:IMVT) Research Coverage Started at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Immunovant (NASDAQ:IMVT) in a report published on Monday, MarketBeat.com reports. The firm issued a hold rating and a $20.00 price target on the stock.

Several other analysts also recently weighed in on IMVT. Guggenheim cut their price target on Immunovant from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Wolfe Research cut Immunovant from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Wells Fargo & Company lowered their price objective on Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Cantor Fitzgerald raised Immunovant to a “strong-buy” rating in a research report on Thursday, January 30th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a research report on Friday, February 7th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.55.

Immunovant Stock Up 5.0 %

Immunovant stock opened at $19.42 on Monday. The company has a market capitalization of $3.30 billion, a P/E ratio of -7.41 and a beta of 0.68. The stock’s 50 day moving average is $22.06 and its 200 day moving average is $26.68. Immunovant has a twelve month low of $17.65 and a twelve month high of $35.97.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings results on Monday, February 10th. The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.08). As a group, equities analysts expect that Immunovant will post -2.69 EPS for the current year.

Insider Activity

In other news, CTO Jay S. Stout sold 2,195 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $23.59, for a total transaction of $51,780.05. Following the transaction, the chief technology officer now directly owns 139,991 shares of the company’s stock, valued at $3,302,387.69. This represents a 1.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Eva Renee Barnett sold 2,298 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $23.83, for a total value of $54,761.34. Following the transaction, the chief financial officer now directly owns 324,766 shares in the company, valued at $7,739,173.78. The trade was a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,510 shares of company stock valued at $656,886 in the last ninety days. 5.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Immunovant

Several hedge funds and other institutional investors have recently modified their holdings of IMVT. KBC Group NV increased its stake in shares of Immunovant by 46.2% in the 3rd quarter. KBC Group NV now owns 1,936 shares of the company’s stock worth $55,000 after purchasing an additional 612 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Immunovant in the 4th quarter worth $76,000. Assetmark Inc. increased its stake in shares of Immunovant by 73.8% in the 3rd quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock worth $82,000 after purchasing an additional 1,228 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Immunovant by 21.4% in the 3rd 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 in the last quarter. Finally, Ameriprise Financial Inc. purchased a new stake in Immunovant in the 4th quarter worth $221,000. 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.