Immunovant, Inc. (NASDAQ:IMVT) Receives Consensus Rating of “Buy” from Analysts

Shares of Immunovant, Inc. (NASDAQ:IMVT) have received an average rating of “Buy” from the seventeen brokerages that are presently covering the stock, Marketbeat.com reports. Seventeen 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.

IMVT has been the subject of a number of recent research reports. Cantor Fitzgerald restated an “overweight” rating on shares of Immunovant in a research note on Friday, January 12th. Wolfe Research started coverage on Immunovant in a research note on Thursday, February 15th. They issued an “outperform” rating and a $55.00 price target for the company. Truist Financial reaffirmed a “buy” rating and set a $48.00 price target on shares of Immunovant in a research report on Monday, March 25th. JPMorgan Chase & Co. started coverage on Immunovant in a report on Tuesday, February 20th. They issued an “overweight” rating and a $51.00 price objective for the company. Finally, Oppenheimer initiated 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.

Insider Transactions at Immunovant

In related news, CEO Peter Salzmann sold 34,079 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $29.06, for a total value of $990,335.74. Following the transaction, the chief executive officer now directly owns 1,052,879 shares in the company, valued at $30,596,663.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Eva Renee Barnett sold 12,253 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $29.06, for a total transaction of $356,072.18. Following the sale, the chief financial officer now directly owns 359,456 shares of the company’s stock, valued at approximately $10,445,791.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Peter Salzmann sold 34,079 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $29.06, for a total value of $990,335.74. Following the completion of the transaction, the chief executive officer now directly owns 1,052,879 shares of the company’s stock, valued at approximately $30,596,663.74. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,087 shares of company stock valued at $2,235,935. 4.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Immunovant

Large investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Immunovant by 51.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 65,091 shares of the company’s stock worth $2,103,000 after acquiring an additional 22,226 shares during the period. Los Angeles Capital Management LLC lifted its stake in Immunovant by 185.4% during the first quarter. Los Angeles Capital Management LLC now owns 14,371 shares of the company’s stock worth $464,000 after purchasing an additional 9,335 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Immunovant by 75.0% in the 4th quarter. Wellington Management Group LLP now owns 295,020 shares of the company’s stock valued at $12,429,000 after purchasing an additional 126,412 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Immunovant by 119.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,602,562 shares of the company’s stock valued at $67,517,000 after purchasing an additional 872,520 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of Immunovant in the 4th quarter valued at $369,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Immunovant Stock Performance

Shares of Immunovant stock opened at $28.22 on Friday. The firm has a market cap of $4.10 billion, a PE ratio of -15.34 and a beta of 0.65. The business’s 50 day simple moving average is $33.00 and its 200 day simple moving average is $36.05. Immunovant has a 52-week low of $15.08 and a 52-week high of $45.58.

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

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.