HC Wainwright Estimates Immunovant FY2030 Earnings

Immunovant, Inc. (NASDAQ:IMVT) – Equities research analysts at HC Wainwright issued their FY2030 EPS estimates for Immunovant in a research report issued on Friday, May 30th. HC Wainwright analyst D. Tsao expects that the company will post earnings per share of $1.77 for the year. HC Wainwright currently has a “Buy” rating and a $51.00 price target on the stock. The consensus estimate for Immunovant’s current full-year earnings is ($2.69) per share.

IMVT has been the subject of several other reports. UBS Group restated a “neutral” rating and set a $17.00 target price (down from $38.00) on shares of Immunovant in a report on Tuesday, April 22nd. Bank of America dropped their target price on shares of Immunovant from $38.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, March 20th. Guggenheim restated a “buy” rating on shares of Immunovant in a report on Thursday, March 20th. Jefferies Financial Group assumed coverage on shares of Immunovant in a report on Monday, March 3rd. They set a “hold” rating and a $20.00 target price for the company. Finally, Cantor Fitzgerald upgraded shares of Immunovant to a “strong-buy” rating in a report on Tuesday, March 4th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $38.33.

Immunovant Trading Down 0.1%

NASDAQ:IMVT opened at $14.87 on Monday. The firm has a 50-day moving average price of $14.99 and a two-hundred day moving average price of $20.38. Immunovant has a twelve month low of $12.72 and a twelve month high of $34.47. The company has a market capitalization of $2.53 billion, a P/E ratio of -5.68 and a beta of 0.75.

Immunovant (NASDAQ:IMVT) last posted its earnings results on Thursday, May 29th. The company reported ($0.64) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.08. The business had revenue of $0.16 million for the quarter. During the same period in the prior year, the business earned ($0.52) EPS.

Insider Transactions at Immunovant

In related news, insider Michael Geffner sold 2,349 shares of the business’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $14.79, for a total value of $34,741.71. Following the completion of the sale, the insider now directly owns 225,370 shares in the company, valued at approximately $3,333,222.30. The trade was a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrew J. Fromkin sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $19.60, for a total transaction of $156,800.00. Following the completion of the sale, the director now owns 91,913 shares of the company’s stock, valued at approximately $1,801,494.80. The trade was a 8.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,682 shares of company stock worth $753,419 over the last ninety days. 5.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Immunovant

A number of institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers grew its holdings in Immunovant by 3.2% in the first quarter. Rhumbline Advisers now owns 83,555 shares of the company’s stock valued at $1,428,000 after purchasing an additional 2,623 shares during the period. Strs Ohio purchased a new stake in Immunovant in the first quarter valued at approximately $27,000. Woodline Partners LP grew its holdings in Immunovant by 133.0% in the first quarter. Woodline Partners LP now owns 1,497,869 shares of the company’s stock valued at $25,599,000 after purchasing an additional 855,143 shares during the period. Goldman Sachs Group Inc. grew its holdings in Immunovant by 48.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,007,700 shares of the company’s stock valued at $17,222,000 after purchasing an additional 329,354 shares during the period. Finally, Two Seas Capital LP lifted its position in Immunovant by 8.7% during the first quarter. Two Seas Capital LP now owns 1,642,772 shares of the company’s stock valued at $28,075,000 after buying an additional 131,158 shares in the last quarter. 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.