Immunovant (NASDAQ:IMVT) PT Raised to $53.00

Immunovant (NASDAQ:IMVT) had its target price upped by Oppenheimer from $47.00 to $53.00 in a research note released on Wednesday morning, MarketBeat reports. Oppenheimer currently has an outperform rating on the stock.

A number of other research analysts also recently weighed in on the company. Cantor Fitzgerald restated an overweight rating on shares of Immunovant in a research note on Monday, September 9th. HC Wainwright reiterated a buy rating and set a $51.00 target price on shares of Immunovant in a research note on Monday, September 30th. UBS Group reduced their target price on Immunovant from $42.00 to $41.00 and set a buy rating for the company in a research note on Tuesday, August 13th. Finally, JPMorgan Chase & Co. reduced their target price on Immunovant from $51.00 to $46.00 and set an overweight rating for the company in a research note on Thursday, August 8th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of Buy and an average target price of $48.58.

Immunovant Stock Up 1.6 %

IMVT stock opened at $30.40 on Wednesday. The business has a 50 day moving average price of $29.95 and a two-hundred day moving average price of $29.06. The company has a market cap of $4.45 billion, a price-to-earnings ratio of -15.75 and a beta of 0.66. Immunovant has a twelve month low of $24.67 and a twelve month high of $45.58.

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

Insiders Place Their Bets

In other Immunovant news, CTO Jay S. Stout sold 2,813 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $27.76, for a total value of $78,088.88. Following the completion of the transaction, the chief technology officer now owns 144,926 shares of the company’s stock, valued at $4,023,145.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CTO Jay S. Stout sold 2,813 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $27.76, for a total value of $78,088.88. Following the completion of the sale, the chief technology officer now owns 144,926 shares of the company’s stock, valued at approximately $4,023,145.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Eva Renee Barnett sold 5,162 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $29.56, for a total value of $152,588.72. Following the completion of the sale, the chief financial officer now directly owns 338,614 shares of the company’s stock, valued at approximately $10,009,429.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,204 shares of company stock valued at $883,407 in the last 90 days. Corporate insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Immunovant

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Immunovant by 11.2% during the 1st quarter. Vanguard Group Inc. now owns 6,478,304 shares of the company’s stock valued at $209,314,000 after purchasing an additional 650,506 shares in the last quarter. Armistice Capital LLC boosted its position in shares of Immunovant by 57.0% during the 2nd quarter. Armistice Capital LLC now owns 3,396,909 shares of the company’s stock valued at $89,678,000 after purchasing an additional 1,232,909 shares in the last quarter. Alpine Global Management LLC boosted its holdings in Immunovant by 34.6% in the first quarter. Alpine Global Management LLC now owns 1,882,704 shares of the company’s stock worth $60,830,000 after acquiring an additional 484,332 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in 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 acquiring an additional 259,481 shares in the last quarter. Finally, Boxer Capital LLC boosted its holdings in 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 acquiring an additional 250,000 shares in the last quarter. 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.