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

Immunovant, Inc. (NASDAQ:IMVT) has earned a consensus rating of “Buy” from the seventeen analysts that are presently covering the firm, Marketbeat reports. Seventeen analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $48.75.

A number of brokerages recently commented on IMVT. The Goldman Sachs Group initiated coverage on shares of Immunovant in a research note on Wednesday, March 13th. They set a “buy” rating and a $50.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a report on Tuesday, June 18th. Oppenheimer decreased their price objective on Immunovant from $50.00 to $46.00 and set an “outperform” rating on the stock in a research note on Monday, June 3rd. HC Wainwright restated a “buy” rating and issued a $51.00 target price on shares of Immunovant in a research note on Thursday, May 30th. Finally, Truist Financial reiterated a “buy” rating and set a $48.00 price target on shares of Immunovant in a research report on Monday, March 25th.

Immunovant Trading Down 1.2 %

Shares of NASDAQ IMVT opened at $26.20 on Thursday. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of -13.79 and a beta of 0.67. The stock has a fifty day simple moving average of $27.74 and a two-hundred day simple moving average of $33.01. Immunovant has a 1-year low of $18.16 and a 1-year high of $45.58.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings results on Wednesday, May 29th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.08). During the same period in the prior year, the company posted ($0.46) earnings per share. Analysts forecast that Immunovant will post -2.11 EPS for the current year.

Insider Buying and Selling

In other Immunovant news, insider Michael Geffner sold 3,261 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $28.90, for a total transaction of $94,242.90. Following the sale, the insider now owns 141,616 shares in the company, valued at $4,092,702.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Immunovant news, insider Michael Geffner sold 3,261 shares of the stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $28.90, for a total transaction of $94,242.90. Following the transaction, the insider now directly owns 141,616 shares in the company, valued at $4,092,702.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Julia G. Butchko sold 1,053 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $31.18, for a total transaction of $32,832.54. Following the completion of the sale, the insider now owns 461,742 shares of the company’s stock, valued at $14,397,115.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 99,948 shares of company stock worth $2,936,889. Corporate insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Castleark Management LLC bought a new position in Immunovant during the 1st quarter worth approximately $2,599,000. Bamco Inc. NY grew its holdings in shares of Immunovant by 1.7% in the first quarter. Bamco Inc. NY now owns 60,000 shares of the company’s stock worth $1,939,000 after purchasing an additional 1,000 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Immunovant by 16.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,862,043 shares of the company’s stock worth $60,163,000 after buying an additional 259,481 shares during the period. Tyro Capital Management LLC increased its stake in shares of Immunovant by 117.0% in the first quarter. Tyro Capital Management LLC now owns 97,667 shares of the company’s stock worth $3,156,000 after buying an additional 52,667 shares during the period. Finally, Alpine Global Management LLC raised its holdings in Immunovant by 34.6% during the 1st quarter. Alpine Global Management LLC now owns 1,882,704 shares of the company’s stock valued at $60,830,000 after buying an additional 484,332 shares during the last quarter. Hedge funds and other 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.