Immunovant (NASDAQ:IMVT) Price Target Raised to $30.00 at Truist Financial

Immunovant (NASDAQ:IMVT) had its target price hoisted by Truist Financial from $23.00 to $30.00 in a research note issued to investors on Friday,Benzinga reports. Truist Financial currently has a hold rating on the stock.

A number of other equities research analysts have also recently weighed in on IMVT. Sanford C. Bernstein assumed coverage on Immunovant in a research note on Friday, March 20th. They issued a “market perform” rating and a $28.00 price objective for the company. Bank of America lifted their price target on Immunovant from $32.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday. Guggenheim lifted their price target on Immunovant from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, February 9th. HC Wainwright boosted their target price on Immunovant from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday. Finally, The Goldman Sachs Group upped their price objective on Immunovant from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, April 15th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Immunovant currently has a consensus rating of “Hold” and a consensus target price of $35.33.

Immunovant Trading Up 0.1%

Shares of IMVT opened at $34.15 on Friday. Immunovant has a 12 month low of $13.79 and a 12 month high of $36.28. The stock’s 50 day moving average is $26.82 and its two-hundred day moving average is $25.91. The firm has a market cap of $7.01 billion, a P/E ratio of -12.28 and a beta of 0.70.

Immunovant (NASDAQ:IMVT) last released its earnings results on Wednesday, May 20th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.13). During the same quarter last year, the firm posted ($0.64) earnings per share. Equities research analysts forecast that Immunovant will post -2.6 EPS for the current year.

Insider Activity at Immunovant

In other Immunovant news, CFO Tiago Girao sold 25,760 shares of the stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $29.62, for a total transaction of $763,011.20. Following the transaction, the chief financial officer owned 247,596 shares of the company’s stock, valued at $7,333,793.52. This represents a 9.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Jay S. Stout sold 10,132 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $24.83, for a total value of $251,577.56. Following the completion of the transaction, the chief technology officer directly owned 254,439 shares in the company, valued at $6,317,720.37. This trade represents a 3.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 78,141 shares of company stock worth $2,115,713. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Immunovant

Several institutional investors and hedge funds have recently bought and sold shares of the company. Empowered Funds LLC raised its stake in Immunovant by 2.7% during the first quarter. Empowered Funds LLC now owns 14,556 shares of the company’s stock valued at $362,000 after buying an additional 381 shares in the last quarter. Arizona State Retirement System boosted its stake in Immunovant by 2.2% in the third quarter. Arizona State Retirement System now owns 20,234 shares of the company’s stock valued at $326,000 after acquiring an additional 430 shares during the period. Wellington Management Group LLP boosted its stake in Immunovant by 2.7% in the fourth quarter. Wellington Management Group LLP now owns 28,847 shares of the company’s stock valued at $733,000 after acquiring an additional 755 shares during the period. Royal Bank of Canada boosted its stake in Immunovant by 20.7% in the fourth quarter. Royal Bank of Canada now owns 4,549 shares of the company’s stock valued at $116,000 after acquiring an additional 780 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in Immunovant by 2.6% in the second quarter. The Manufacturers Life Insurance Company now owns 36,124 shares of the company’s stock valued at $578,000 after acquiring an additional 900 shares during the period. Institutional investors and hedge funds own 47.08% of the company’s stock.

Key Stories Impacting Immunovant

Here are the key news stories impacting Immunovant this week:

• Positive Sentiment: Immunovant reported strong Week 16 data from its rheumatoid arthritis study of IMVT-1402, with response rates that investors viewed as supportive of the drug’s potential and the company’s broader autoimmune pipeline. Article Title
• Positive Sentiment: The company said its cutaneous lupus proof-of-concept trial is fully enrolled and expects topline results in the second half of 2026, giving shareholders another potential catalyst. Article Title
• Positive Sentiment: Immunovant highlighted about $902 million in cash at quarter-end, which should help fund development of IMVT-1402 and reduce near-term financing concerns. Article Title
• Neutral Sentiment: Truist raised its price target on IMVT to $30 from $23, but kept a Hold rating, suggesting analysts are acknowledging improved prospects while still seeing limited upside from current levels. Article Title
• Neutral Sentiment: The company posted a quarterly loss of $0.73 per share, wider than the $0.60 consensus estimate, though that earnings miss was largely overshadowed by the clinical update. Article Title
• Negative Sentiment: Director Atul Pande sold 6,000 shares in a pre-arranged 10b5-1 transaction, which may slightly temper sentiment even though the sale was planned in advance. Article Title

Immunovant Company Profile

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.