Immunovant, Inc. (NASDAQ:IMVT) Receives $49.09 Average Price Target from Analysts

Immunovant, Inc. (NASDAQ:IMVT) has earned a consensus rating of “Buy” from the twelve brokerages that are currently covering the firm, Marketbeat.com reports. Twelve analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $48.58.

IMVT has been the subject of several analyst reports. HC Wainwright reissued a “buy” rating and issued a $51.00 target price on shares of Immunovant in a research note on Monday, September 30th. Oppenheimer boosted their price objective on shares of Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday. Raymond James reiterated an “outperform” rating and issued a $36.00 target price on shares of Immunovant in a research note on Thursday. JPMorgan Chase & Co. lowered their price target on Immunovant from $51.00 to $46.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunovant in a research note on Monday, September 9th.

Immunovant Price Performance

Shares of NASDAQ:IMVT opened at $30.40 on Friday. The stock has a market capitalization of $4.45 billion, a PE ratio of -15.75 and a beta of 0.66. The company’s 50-day moving average price is $29.95 and its two-hundred day moving average price is $29.08. Immunovant has a one year low of $24.67 and a one year high of $45.58.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.07). During the same quarter in the previous year, the business earned ($0.57) earnings per share. On average, analysts anticipate that Immunovant will post -2.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Immunovant

In related news, CEO Peter Salzmann sold 8,685 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $29.69, for a total value of $257,857.65. Following the completion of the sale, the chief executive officer now directly owns 1,023,412 shares in the company, valued at approximately $30,385,102.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Immunovant news, CFO Eva Renee Barnett sold 3,123 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $29.69, for a total transaction of $92,721.87. Following the completion of the transaction, the chief financial officer now owns 347,544 shares of the company’s stock, valued at approximately $10,318,581.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Peter Salzmann sold 8,685 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $29.69, for a total transaction of $257,857.65. Following the completion of the sale, the chief executive officer now owns 1,023,412 shares in the company, valued at $30,385,102.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,204 shares of company stock valued at $883,407 in the last ninety days. 5.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Immunovant

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Boxer Capital LLC grew its stake in shares of Immunovant by 33.3% in the fourth quarter. Boxer Capital LLC now owns 1,000,000 shares of the company’s stock worth $42,130,000 after purchasing an additional 250,000 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Immunovant by 198.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 311,525 shares of the company’s stock valued at $8,224,000 after purchasing an additional 207,003 shares during the period. ADAR1 Capital Management LLC bought a new stake in shares of Immunovant during the 4th quarter valued at about $5,651,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Immunovant by 98.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 71,788 shares of the company’s stock valued at $2,319,000 after purchasing an additional 35,589 shares in the last quarter. Finally, Lighthouse Investment Partners LLC acquired a new stake in Immunovant during the fourth quarter worth approximately $3,631,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

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.