Immunovant, Inc. (NASDAQ:IMVT) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Immunovant, Inc. (NASDAQ:IMVT) have received a consensus rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $43.55.

Several research firms have commented on IMVT. Jefferies Financial Group began coverage on shares of Immunovant in a report on Monday. They set a “hold” rating and a $20.00 price objective for the company. Wells Fargo & Company dropped their price objective on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Wolfe Research downgraded shares of Immunovant from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Cantor Fitzgerald raised shares of Immunovant to a “strong-buy” rating in a report on Thursday, January 30th. Finally, Guggenheim dropped their price objective on shares of Immunovant from $46.00 to $44.00 and set a “buy” rating for the company in a report on Monday, February 10th.

Immunovant Stock Performance

Shares of Immunovant stock opened at $18.44 on Tuesday. The company has a market capitalization of $3.13 billion, a P/E ratio of -7.04 and a beta of 0.65. The company has a fifty day moving average of $22.34 and a 200 day moving average of $26.81. Immunovant has a fifty-two week low of $18.13 and a fifty-two week high of $35.97.

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

Insider Activity at Immunovant

In related news, CEO Peter Salzmann sold 5,105 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $24.10, for a total value of $123,030.50. Following the sale, the chief executive officer now directly owns 972,992 shares of the company’s stock, valued at $23,449,107.20. This represents a 0.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael Geffner sold 2,657 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $23.59, for a total transaction of $62,678.63. Following the completion of the sale, the insider now directly owns 132,314 shares in the company, valued at $3,121,287.26. This trade represents a 1.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,510 shares of company stock valued at $656,886. Insiders own 5.90% of the company’s stock.

Institutional Trading of Immunovant

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. KBC Group NV raised its position in Immunovant by 46.2% in 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 period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Immunovant by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock worth $148,000 after acquiring an additional 934 shares during the period. Rhumbline Advisers increased its position in shares of Immunovant by 1.5% during the fourth quarter. Rhumbline Advisers now owns 80,932 shares of the company’s stock worth $2,005,000 after acquiring an additional 1,188 shares during the period. Swiss National Bank increased its position in shares of Immunovant by 1.2% during the fourth quarter. Swiss National Bank now owns 100,800 shares of the company’s stock worth $2,497,000 after acquiring an additional 1,200 shares during the period. Finally, Assetmark Inc. increased its position in shares of Immunovant by 73.8% during the third quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock worth $82,000 after acquiring an additional 1,228 shares during the period. 47.08% of the stock is owned by hedge funds and other institutional investors.

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.