Immunovant, Inc. (NASDAQ:IMVT) Receives $47.89 Consensus Target Price from Brokerages

Shares of Immunovant, Inc. (NASDAQ:IMVT) have earned an average rating of “Buy” from the ten ratings firms that are currently covering the company, Marketbeat reports. Ten equities research analysts have rated the stock with a buy rating. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $47.22.

A number of brokerages have weighed in on IMVT. HC Wainwright reaffirmed a “buy” rating and set a $51.00 target price on shares of Immunovant in a research note on Friday, November 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunovant in a research note on Monday, September 9th. Oppenheimer increased their target price on Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Wells Fargo & Company dropped their price target on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Raymond James restated an “outperform” rating and set a $36.00 price objective on shares of Immunovant in a research note on Thursday, October 10th.

Immunovant Stock Up 0.8 %

NASDAQ IMVT opened at $25.86 on Thursday. The firm has a market capitalization of $3.80 billion, a PE ratio of -11.65 and a beta of 0.64. The stock’s 50 day moving average is $28.53 and its 200 day moving average is $28.74. Immunovant has a twelve month low of $24.61 and a twelve month high of $45.58.

Immunovant (NASDAQ:IMVT) last announced its earnings results on Thursday, November 7th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.15). During the same quarter in the previous year, the company posted ($0.45) EPS. On average, research analysts anticipate that Immunovant will post -2.73 earnings per share for the current year.

Insider Activity

In related news, CTO Jay S. Stout sold 2,740 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $29.53, for a total value of $80,912.20. Following the transaction, the chief technology officer now owns 142,186 shares of the company’s stock, valued at approximately $4,198,752.58. This trade represents a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 approximately $10,512,495.76. This represents a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,659 shares of company stock valued at $2,096,890 over the last three months. Insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. KBC Group NV increased its stake in shares of 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Immunovant by 21.4% in the third 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 in the last quarter. Assetmark Inc. increased its position in Immunovant by 73.8% in the third quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock worth $82,000 after buying an additional 1,228 shares in the last quarter. Tyro Capital Management LLC lifted its position in shares of Immunovant by 0.6% during the 3rd quarter. Tyro Capital Management LLC now owns 252,149 shares of the company’s stock valued at $7,189,000 after buying an additional 1,529 shares in the last quarter. Finally, Quest Partners LLC lifted its position in shares of Immunovant by 216.7% during the 2nd quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock valued at $69,000 after buying 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.