Shares of Immunovant, Inc. (NASDAQ:IMVT – Get Free Report) have earned an average rating of “Buy” from the seventeen research firms that are covering the firm, MarketBeat.com reports. Seventeen equities research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $48.00.
A number of equities analysts recently issued reports on IMVT shares. The Goldman Sachs Group started coverage on shares of Immunovant in a research note on Wednesday, March 13th. They issued a “buy” rating and a $50.00 price target for the company. Wolfe Research initiated coverage on Immunovant in a research note on Thursday, February 15th. They issued an “outperform” rating and a $55.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a research note on Friday, January 12th. Truist Financial reissued a “buy” rating and set a $48.00 price objective on shares of Immunovant in a research report on Monday, March 25th. Finally, Oppenheimer assumed coverage on shares of Immunovant in a report on Thursday, March 28th. They set an “outperform” rating and a $50.00 target price on the stock.
Read Our Latest Stock Report on Immunovant
Insider Transactions at Immunovant
Institutional Trading of Immunovant
A number of hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in shares of Immunovant by 5.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 192,214 shares of the company’s stock valued at $7,379,000 after purchasing an additional 9,648 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Immunovant by 2.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,401 shares of the company’s stock worth $1,436,000 after buying an additional 1,059 shares during the last quarter. TD Asset Management Inc bought a new stake in Immunovant during the third quarter valued at approximately $1,198,000. Allspring Global Investments Holdings LLC increased its holdings in Immunovant by 56.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,206 shares of the company’s stock valued at $238,000 after buying an additional 2,228 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings in Immunovant by 96.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 3,360 shares of the company’s stock valued at $129,000 after buying an additional 1,651 shares during the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.
Immunovant Stock Performance
Shares of IMVT stock opened at $29.58 on Wednesday. Immunovant has a fifty-two week low of $17.53 and a fifty-two week high of $45.58. The firm has a market cap of $4.30 billion, a P/E ratio of -16.08 and a beta of 0.70. The business’s 50 day moving average price is $30.89 and its 200-day moving average price is $35.39.
Immunovant (NASDAQ:IMVT – Get Free Report) last released its quarterly earnings results on Monday, February 12th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.07. As a group, equities analysts predict that Immunovant will post -1.7 EPS for the current year.
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.
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