Immunovant (NASDAQ:IMVT) Announces Earnings Results, Misses Estimates By $0.15 EPS

Immunovant (NASDAQ:IMVT) posted its quarterly earnings results on Thursday. The company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.15), Briefing.com reports. During the same period in the previous year, the business posted ($0.45) EPS.

Immunovant Stock Performance

Shares of Immunovant stock traded up $0.78 on Friday, reaching $30.71. The company had a trading volume of 427,601 shares, compared to its average volume of 1,078,288. The firm’s 50 day moving average price is $29.79 and its two-hundred day moving average price is $28.95. The firm has a market cap of $4.49 billion, a PE ratio of -15.75 and a beta of 0.66. Immunovant has a 52-week low of $24.67 and a 52-week high of $45.58.

Insider Activity

In related news, insider William L. Macias sold 3,188 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $28.79, for a total transaction of $91,782.52. Following the sale, the insider now directly owns 365,144 shares of the company’s stock, valued at $10,512,495.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Immunovant news, CEO Peter Salzmann sold 4,460 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $29.56, for a total transaction of $131,837.60. Following the completion of the transaction, the chief executive officer now owns 1,003,884 shares in the company, valued at $29,674,811.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider William L. Macias sold 3,188 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $28.79, for a total transaction of $91,782.52. Following the transaction, the insider now owns 365,144 shares of the company’s stock, valued at $10,512,495.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,277 shares of company stock valued at $941,919. Company insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on IMVT. UBS Group lowered their price target on shares of Immunovant from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. HC Wainwright restated a “buy” rating and set a $51.00 price target on shares of Immunovant in a research report on Friday. Oppenheimer boosted their target price on shares of Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. decreased their target price on shares of Immunovant from $51.00 to $46.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Finally, Raymond James reiterated an “outperform” rating and issued a $36.00 target price on shares of Immunovant in a report on Thursday, October 10th. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $48.10.

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.