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

Shares of Immunovant, Inc. (NASDAQ:IMVT) have received an average rating of “Buy” from the ten research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $41.00.

A number of equities analysts have recently issued reports on IMVT shares. Guggenheim reaffirmed a “buy” rating on shares of Immunovant in a research report on Thursday, March 20th. Wolfe Research lowered Immunovant from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Jefferies Financial Group initiated coverage on Immunovant in a report on Monday, March 3rd. They issued a “hold” rating and a $20.00 price target for the company. Bank of America cut their price objective 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. Finally, Cantor Fitzgerald upgraded shares of Immunovant to a “strong-buy” rating in a research note on Tuesday, March 4th.

Immunovant Price Performance

IMVT opened at $14.58 on Friday. The firm has a market capitalization of $2.48 billion, a PE ratio of -5.56 and a beta of 0.81. The business’s 50-day moving average is $19.60 and its two-hundred day moving average is $24.77. Immunovant has a 1 year low of $14.16 and a 1 year high of $34.47.

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

Insider Transactions at Immunovant

In other news, CEO Peter Salzmann sold 8,767 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $23.83, for a total transaction of $208,917.61. Following the sale, the chief executive officer now owns 964,225 shares of the company’s stock, valued at $22,977,481.75. This trade represents a 0.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sciences Ltd. Roivant purchased 16,845,010 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were purchased at an average cost of $20.00 per share, for a total transaction of $336,900,200.00. Following the completion of the acquisition, the director now directly owns 96,650,341 shares of the company’s stock, valued at $1,933,006,820. This represents a 21.11 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 35,510 shares of company stock worth $813,686 over the last 90 days. 5.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. GF Fund Management CO. LTD. purchased a new position in shares of Immunovant in the 4th quarter valued at about $76,000. KBC Group NV increased its position in shares of Immunovant by 60.1% in the fourth quarter. KBC Group NV now owns 3,099 shares of the company’s stock valued at $77,000 after buying an additional 1,163 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in shares of Immunovant during the 4th quarter worth approximately $221,000. KLP Kapitalforvaltning AS acquired a new stake in Immunovant in the 4th quarter valued at $268,000. Finally, Aigen Investment Management LP acquired a new position in Immunovant during the fourth quarter worth $270,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

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.