Immunovant, Inc. (NASDAQ:IMVT) Given Consensus Rating of “Moderate Buy” by Brokerages

Immunovant, Inc. (NASDAQ:IMVT) has received an average rating of “Moderate Buy” from the twelve research firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $28.7778.

Several research analysts have recently commented on the company. Truist Financial initiated coverage on Immunovant in a research report on Tuesday, October 14th. They issued a “hold” rating and a $16.00 target price for the company. Citigroup restated a “buy” rating on shares of Immunovant in a research note on Monday, August 11th. Bank of America lowered their target price on shares of Immunovant from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, August 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Immunovant in a research report on Tuesday, October 14th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $35.00 price target on shares of Immunovant in a report on Thursday, September 4th.

Immunovant Stock Performance

IMVT opened at $22.71 on Thursday. The company has a market capitalization of $3.98 billion, a P/E ratio of -8.00 and a beta of 0.56. The company has a 50-day moving average of $20.65 and a 200-day moving average of $17.59. Immunovant has a 1-year low of $12.72 and a 1-year high of $29.49.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.01). During the same period last year, the company earned ($0.74) EPS. As a group, sell-side analysts expect that Immunovant will post -2.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Melanie Gloria sold 12,626 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $23.62, for a total value of $298,226.12. Following the sale, the chief operating officer owned 173,511 shares of the company’s stock, valued at approximately $4,098,329.82. This trade represents a 6.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Douglas J. Hughes sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $23.24, for a total value of $348,600.00. Following the transaction, the director owned 120,773 shares of the company’s stock, valued at $2,806,764.52. This represents a 11.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 57,847 shares of company stock valued at $1,308,023 over the last 90 days. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Immunovant

A number of hedge funds have recently added to or reduced their stakes in IMVT. EFG Asset Management North America Corp. lifted its position in Immunovant by 76.2% in the 1st quarter. EFG Asset Management North America Corp. now owns 130,356 shares of the company’s stock valued at $2,226,000 after purchasing an additional 56,375 shares during the last quarter. Two Seas Capital LP grew its position in Immunovant by 8.7% in the 1st quarter. Two Seas Capital LP now owns 1,642,772 shares of the company’s stock worth $28,075,000 after purchasing an additional 131,158 shares during the last quarter. Woodline Partners LP increased its stake in shares of 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. Handelsbanken Fonder AB raised its holdings in shares of Immunovant by 13.9% during the second quarter. Handelsbanken Fonder AB now owns 23,800 shares of the company’s stock valued at $381,000 after buying an additional 2,900 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Immunovant by 438.2% during the first quarter. Cubist Systematic Strategies LLC now owns 58,122 shares of the company’s stock worth $993,000 after buying an additional 47,322 shares during the period. 47.08% of the stock is currently owned by institutional investors.

About Immunovant

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.