Immunovant (NASDAQ:IMVT) Cut to “Peer Perform” at Wolfe Research

Wolfe Research lowered shares of Immunovant (NASDAQ:IMVT) from an outperform rating to a peer perform rating in a research report released on Friday, Marketbeat Ratings reports.

Other research analysts have also issued reports about the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunovant in a research report on Monday, September 9th. Raymond James reissued an “outperform” rating and issued a $36.00 price objective on shares of Immunovant in a research report on Thursday, October 10th. Wells Fargo & Company lowered their price objective on Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. HC Wainwright reissued a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a research report on Friday, November 8th. Finally, Oppenheimer lifted their price objective on Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.22.

Immunovant Trading Down 1.5 %

Shares of IMVT opened at $24.81 on Friday. The company has a market capitalization of $3.64 billion, a PE ratio of -11.18 and a beta of 0.64. Immunovant has a 12 month low of $23.88 and a 12 month high of $45.58. The stock’s 50-day moving average price is $27.64 and its two-hundred day moving average price is $28.71.

Immunovant (NASDAQ:IMVT) last announced its earnings results on Thursday, November 7th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.15). During the same period in the previous year, the business earned ($0.45) earnings per share. Equities research analysts predict that Immunovant will post -2.73 EPS for the current fiscal year.

Insider Buying and Selling at Immunovant

In other Immunovant news, CFO Eva Renee Barnett sold 5,162 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $29.56, for a total transaction of $152,588.72. Following the sale, the chief financial officer now owns 338,614 shares in the company, valued at $10,009,429.84. This represents a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Peter Salzmann sold 4,460 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $29.56, for a total value of $131,837.60. Following the sale, the chief executive officer now owns 1,003,884 shares in the company, valued at approximately $29,674,811.04. This represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,659 shares of company stock valued at $2,096,890. Company insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Immunovant

Several institutional investors have recently made changes to their positions in IMVT. KBC Group NV raised its position in shares of 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 buying an additional 612 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in 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 purchasing an additional 934 shares in the last quarter. Assetmark Inc. raised its position in 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 purchasing an additional 1,228 shares in the last quarter. Tyro Capital Management LLC raised its position in Immunovant by 0.6% during the third quarter. Tyro Capital Management LLC now owns 252,149 shares of the company’s stock valued at $7,189,000 after purchasing an additional 1,529 shares in the last quarter. Finally, Quest Partners LLC raised its position in Immunovant by 216.7% during the second quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock valued at $69,000 after purchasing an additional 1,786 shares in the last quarter. Hedge funds and other institutional investors 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.