FY2031 EPS Estimates for Immunovant Reduced by HC Wainwright

Immunovant, Inc. (NASDAQ:IMVT) – Analysts at HC Wainwright lowered their FY2031 EPS estimates for Immunovant in a report released on Friday, August 7th. HC Wainwright analyst D. Tsao now expects that the company will post earnings of $3.80 per share for the year, down from their previous estimate of $4.13. HC Wainwright has a “Buy” rating and a $40.00 price objective on the stock. The consensus estimate for Immunovant’s current full-year earnings is ($2.72) per share.

Several other equities research analysts also recently commented on the company. Guggenheim upped their target price on Immunovant from $44.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Truist Financial lifted their price target on Immunovant from $23.00 to $30.00 and gave the stock a “hold” rating in a research note on Friday, May 22nd. Citigroup boosted their price objective on Immunovant from $57.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. JPMorgan Chase & Co. upped their price objective on shares of Immunovant from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Immunovant in a report on Monday, July 6th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Immunovant has an average rating of “Moderate Buy” and an average price target of $44.00.

Immunovant Stock Up 4.5%

Shares of NASDAQ IMVT opened at $43.71 on Monday. The stock has a market capitalization of $9.03 billion, a price-to-earnings ratio of -15.50 and a beta of 0.77. The stock’s fifty day simple moving average is $38.45 and its 200 day simple moving average is $31.27. Immunovant has a 52-week low of $14.47 and a 52-week high of $43.89.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.12). The firm had revenue of $7.09 million during the quarter, compared to the consensus estimate of $7.09 million. During the same period in the previous year, the business earned ($0.71) EPS.

Insider Buying and Selling

In other news, COO Melanie Gloria sold 2,036 shares of Immunovant stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $39.55, for a total transaction of $80,523.80. Following the transaction, the chief operating officer owned 222,357 shares in the company, valued at approximately $8,794,219.35. The trade was a 0.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Eric Venker sold 3,092 shares of Immunovant stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $38.48, for a total value of $118,980.16. Following the transaction, the chief executive officer owned 254,280 shares in the company, valued at $9,784,694.40. This represents a 1.20% decrease in their position. 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 three months, insiders have sold 324,810 shares of company stock valued at $11,350,166. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Immunovant

Several hedge funds have recently bought and sold shares of the business. Empowered Funds LLC boosted its position in Immunovant by 2.7% during the 1st quarter. Empowered Funds LLC now owns 14,556 shares of the company’s stock worth $362,000 after acquiring an additional 381 shares during the period. Wellington Management Group LLP increased its holdings in shares of Immunovant by 2.7% in the 4th quarter. Wellington Management Group LLP now owns 28,847 shares of the company’s stock valued at $733,000 after purchasing an additional 755 shares during the period. Royal Bank of Canada lifted its position in shares of Immunovant by 20.7% in the fourth quarter. Royal Bank of Canada now owns 4,549 shares of the company’s stock worth $116,000 after purchasing an additional 780 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Immunovant by 2.6% in the second quarter. The Manufacturers Life Insurance Company now owns 36,124 shares of the company’s stock worth $578,000 after purchasing an additional 900 shares in the last quarter. Finally, Geneos Wealth Management Inc. acquired a new stake in shares of Immunovant during the fourth quarter worth approximately $25,000. 47.08% of the stock is owned by hedge funds and other institutional investors.

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.