Immunovant’s (IMVT) “Buy” Rating Reiterated at HC Wainwright

Immunovant (NASDAQ:IMVT)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They presently have a $51.00 price objective on the stock. HC Wainwright’s target price indicates a potential upside of 174.21% from the company’s previous close.

A number of other research firms also recently weighed in on IMVT. Wells Fargo & Company dropped their price target on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Cantor Fitzgerald upgraded Immunovant to a “strong-buy” rating in a research report on Tuesday, March 4th. Bank of America decreased their price objective on Immunovant from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Guggenheim reissued a “buy” rating on shares of Immunovant in a research note on Monday, March 10th. Finally, Jefferies Financial Group began coverage on Immunovant in a research note on Monday, March 3rd. They set a “hold” rating and a $20.00 price objective on the stock. One analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $42.90.

Immunovant Stock Down 1.0 %

IMVT stock traded down $0.19 during trading on Wednesday, hitting $18.60. The company had a trading volume of 5,999,834 shares, compared to its average volume of 1,055,972. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of -7.08 and a beta of 0.68. The firm has a 50-day moving average price of $21.12 and a 200-day moving average price of $25.88. Immunovant has a 12 month low of $15.02 and a 12 month high of $35.97.

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

Insiders Place Their Bets

In other news, insider William L. Macias sold 2,383 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $23.83, for a total transaction of $56,786.89. Following the sale, the insider now owns 359,408 shares in the company, valued at $8,564,692.64. This represents a 0.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Andrew J. Fromkin sold 8,000 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $19.60, for a total transaction of $156,800.00. Following the completion of the transaction, the director now directly owns 91,913 shares of the company’s stock, valued at $1,801,494.80. This represents a 8.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,510 shares of company stock valued at $813,686 in the last quarter. 5.90% of the stock is currently owned by insiders.

Institutional Trading of Immunovant

A number of large investors have recently added to or reduced their stakes in IMVT. KBC Group NV increased its stake in shares of Immunovant by 46.2% during the 3rd quarter. KBC Group NV now owns 1,936 shares of the company’s stock worth $55,000 after purchasing an additional 612 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in Immunovant during the fourth quarter worth approximately $76,000. Ameriprise Financial Inc. bought a new stake in Immunovant in the fourth quarter valued at approximately $221,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Immunovant in the fourth quarter valued at approximately $268,000. Finally, Aigen Investment Management LP bought a new position in shares of Immunovant during the 4th quarter worth approximately $270,000. Institutional investors and hedge funds 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.