Immunovant (NASDAQ:IMVT) Now Covered by Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Immunovant (NASDAQ:IMVT) in a research report issued on Monday. The firm set a “hold” rating and a $20.00 price target on the stock. Jefferies Financial Group’s price objective suggests a potential downside of 2.91% from the stock’s current price.

Several other equities analysts also recently weighed in on the stock. Wolfe Research downgraded shares of Immunovant from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Bank of America cut their price objective on shares of Immunovant from $48.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. Cantor Fitzgerald upgraded shares of Immunovant to a “strong-buy” rating in a research report on Thursday, January 30th. HC Wainwright reaffirmed a “buy” rating and set a $51.00 price target on shares of Immunovant in a research report on Friday, February 7th. Finally, Guggenheim decreased their price objective on Immunovant from $46.00 to $44.00 and set a “buy” rating for the company in a report on Monday, February 10th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.55.

Immunovant Trading Up 1.7 %

NASDAQ IMVT opened at $20.60 on Monday. The stock has a market cap of $3.50 billion, a P/E ratio of -7.86 and a beta of 0.65. Immunovant has a 12-month low of $19.07 and a 12-month high of $38.31. The company has a fifty day simple moving average of $22.49 and a two-hundred day simple moving average of $26.90.

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

Insider Buying and Selling

In other Immunovant news, CTO Jay S. Stout sold 2,195 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $23.59, for a total value of $51,780.05. Following the transaction, the chief technology officer now directly owns 139,991 shares of the company’s stock, valued at $3,302,387.69. This trade represents a 1.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider William L. Macias sold 2,383 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $23.83, for a total value of $56,786.89. Following the completion of the sale, the insider now owns 359,408 shares of the company’s stock, valued at $8,564,692.64. This trade represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,510 shares of company stock worth $656,886. 5.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Immunovant by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock worth $148,000 after buying an additional 934 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Immunovant by 69.9% in the 3rd quarter. Principal Financial Group Inc. now owns 951,124 shares of the company’s stock valued at $27,117,000 after purchasing an additional 391,436 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Immunovant by 73.8% in the 3rd quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock valued at $82,000 after purchasing an additional 1,228 shares during the last quarter. GSA Capital Partners LLP grew its holdings in shares of Immunovant by 66.2% during the 3rd quarter. GSA Capital Partners LLP now owns 24,634 shares of the company’s stock worth $702,000 after purchasing an additional 9,810 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Immunovant by 7.4% during the 3rd quarter. Victory Capital Management Inc. now owns 335,360 shares of the company’s stock worth $9,561,000 after purchasing an additional 22,990 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.