Immunovant (NASDAQ:IMVT) Earns Hold Rating from Analysts at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Immunovant (NASDAQ:IMVT) in a report published on Monday, Marketbeat reports. The firm issued a hold rating and a $20.00 price objective on the stock.

A number of other research analysts have also weighed in on the company. Wolfe Research lowered Immunovant from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Bank of America cut their price objective on Immunovant from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Guggenheim cut their price objective on Immunovant from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Cantor Fitzgerald raised shares of Immunovant to a “strong-buy” rating in a report on Thursday, January 30th. Finally, Wells Fargo & Company lowered their price target on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.55.

Immunovant Stock Performance

Shares of IMVT stock opened at $19.42 on Monday. The firm has a market capitalization of $3.30 billion, a PE ratio of -7.41 and a beta of 0.68. The stock has a fifty day simple moving average of $22.06 and a two-hundred day simple moving average of $26.68. Immunovant has a 52-week low of $17.65 and a 52-week high of $35.97.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings data on Monday, February 10th. The company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.08). On average, sell-side analysts forecast that Immunovant will post -2.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other Immunovant news, CEO Peter Salzmann sold 5,105 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $24.10, for a total value of $123,030.50. Following the completion of the sale, the chief executive officer now owns 972,992 shares of the company’s stock, valued at $23,449,107.20. This trade represents a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Jay S. Stout sold 2,195 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $23.59, for a total transaction of $51,780.05. Following the completion of the sale, the chief technology officer now directly owns 139,991 shares of the company’s stock, valued at approximately $3,302,387.69. The trade was a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,510 shares of company stock valued at $656,886 over the last 90 days. Insiders own 5.90% of the company’s stock.

Institutional Trading of Immunovant

Several institutional investors have recently added to or reduced their stakes in IMVT. KBC Group NV lifted its stake in Immunovant by 46.2% in the third quarter. KBC Group NV now owns 1,936 shares of the company’s stock worth $55,000 after purchasing an additional 612 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Immunovant during the fourth quarter valued at approximately $76,000. Assetmark Inc. raised its stake in shares of Immunovant by 73.8% during the third quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock valued at $82,000 after acquiring an additional 1,228 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Immunovant by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock valued at $148,000 after acquiring an additional 934 shares in the last quarter. Finally, Ameriprise Financial Inc. bought a new stake in shares of Immunovant during the fourth quarter valued at approximately $221,000. Institutional investors own 47.08% of the company’s stock.

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.