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

Shares of Immunovant, Inc. (NASDAQ:IMVT) have been given a consensus recommendation of “Buy” by the seventeen analysts that are presently covering the firm, Marketbeat reports. Seventeen analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have covered the stock in the last year is $48.00.

A number of research firms have recently issued reports on IMVT. The Goldman Sachs Group assumed coverage on Immunovant in a report on Wednesday, March 13th. They issued a “buy” rating and a $50.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunovant in a research report on Friday, January 12th. JPMorgan Chase & Co. assumed coverage on shares of Immunovant in a research report on Tuesday, February 20th. They set an “overweight” rating and a $51.00 price objective on the stock. HC Wainwright lifted their target price on shares of Immunovant from $47.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, December 21st. Finally, Truist Financial restated a “buy” rating and set a $48.00 price target on shares of Immunovant in a report on Monday, March 25th.

Immunovant Stock Down 4.5 %

IMVT opened at $29.35 on Friday. The business has a fifty day simple moving average of $33.67 and a 200-day simple moving average of $36.38. The firm has a market cap of $4.26 billion, a PE ratio of -15.95 and a beta of 0.65. Immunovant has a fifty-two week low of $14.11 and a fifty-two week high of $45.58.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings data on Monday, February 12th. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.07. On average, equities research analysts anticipate that Immunovant will post -1.7 EPS for the current fiscal year.

Insider Activity

In related news, CFO Eva Renee Barnett sold 3,689 shares of Immunovant stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $31.18, for a total value of $115,023.02. Following the transaction, the chief financial officer now owns 371,709 shares in the company, valued at approximately $11,589,886.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Peter Salzmann sold 4,807 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $31.18, for a total value of $149,882.26. Following the completion of the sale, the chief executive officer now directly owns 1,086,958 shares of the company’s stock, valued at $33,891,350.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Eva Renee Barnett sold 3,689 shares of the business’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $31.18, for a total transaction of $115,023.02. Following the transaction, the chief financial officer now directly owns 371,709 shares in the company, valued at approximately $11,589,886.62. The disclosure for this sale can be found here. Insiders have sold a total of 18,064 shares of company stock valued at $612,982 over the last 90 days. 4.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Immunovant

Several institutional investors and hedge funds have recently added to or reduced their stakes in IMVT. Swiss National Bank grew its holdings in shares of Immunovant by 7.2% during the 1st quarter. Swiss National Bank now owns 95,100 shares of the company’s stock worth $524,000 after purchasing an additional 6,400 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Immunovant by 205.6% during the first quarter. JPMorgan Chase & Co. now owns 461,582 shares of the company’s stock worth $2,543,000 after buying an additional 310,520 shares in the last quarter. MetLife Investment Management LLC boosted its stake in Immunovant by 423.9% during the first quarter. MetLife Investment Management LLC now owns 25,184 shares of the company’s stock worth $139,000 after buying an additional 20,377 shares in the last quarter. BlackRock Inc. increased its holdings in Immunovant by 0.9% in the 1st quarter. BlackRock Inc. now owns 3,353,866 shares of the company’s stock valued at $18,479,000 after buying an additional 28,865 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Immunovant by 148.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 690,965 shares of the company’s stock valued at $3,807,000 after buying an additional 412,997 shares in the last quarter. 47.08% of the stock is currently owned by 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.