Immunovant (NASDAQ:IMVT) Price Target Raised to $47.00

Immunovant (NASDAQ:IMVT – Free Report) had its target price upped by Wells Fargo & Company from $45.00 to $47.00 in a report issued on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other research firms also recently issued reports on IMVT. UBS Group reiterated a “buy” rating on shares of Immunovant in a report on Wednesday, September 23rd. Sanford C. Bernstein upgraded shares of Immunovant to a “hold” rating in a report on Wednesday, July 29th. HC Wainwright reaffirmed a “buy” rating on shares of Immunovant in a research report on Thursday, September 24th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunovant in a research note on Tuesday, August 25th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Immunovant in a research report on Friday, October 2nd. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $44.60.

View Our Latest Analysis on IMVT

Immunovant Stock Performance

Shares of Immunovant stock opened at $35.05 on Tuesday. The stock’s 50-day moving average is $32.74 and its 200-day moving average is $32.30. Immunovant has a one year low of $21.86 and a one year high of $45.42.

Immunovant (NASDAQ:IMVT – Get Free Report) last released its earnings results on Monday, November 9th. The company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.74) by $0.27. During the same period in the prior year, the firm posted ($0.73) earnings per share. Equities research analysts expect that Immunovant will post -2.78 EPS for the current year.

Insiders Place Their Bets

In other Immunovant news, CTO Jay S. Stout sold 3,809 shares of the company’s stock in a transaction on Wednesday, October 7th. The shares were sold at an average price of $32.06, for a total transaction of $122,116.54. Following the sale, the chief technology officer directly owned 201,532 shares of the company’s stock, valued at approximately $6,461,115.92. This represents a 1.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Tiago Girão sold 6,606 shares of the stock in a transaction on Wednesday, October 28th. The shares were sold at an average price of $28.50, for a total transaction of $188,271.00. Following the completion of the sale, the chief financial officer owned 234,192 shares of the company’s stock, valued at approximately $6,674,472. This represents a 2.74% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 27,430 shares of company stock valued at $895,852 in the last ninety days. 1.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IMVT. Gabelli Funds LLC bought a new position in Immunovant in the third quarter valued at approximately $338,000. First Trust Advisors LP raised its position in Immunovant by 22.6% during the third quarter. First Trust Advisors LP now owns 6,625 shares of the company’s stock valued at $224,000 after purchasing an additional 1,220 shares in the last quarter. Private Advisor Group LLC acquired a new position in Immunovant during the third quarter valued at approximately $488,000. Voya Investment Management LLC lifted its stake in Immunovant by 6.5% during the third quarter. Voya Investment Management LLC now owns 93,726 shares of the company’s stock worth $3,166,000 after purchasing an additional 5,733 shares during the last quarter. Finally, HighTower Advisors LLC lifted its stake in Immunovant by 0.8% during the third quarter. HighTower Advisors LLC now owns 56,541 shares of the company’s stock worth $1,910,000 after purchasing an additional 437 shares during the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Immunovant Company Profile

(Get Free Report)

Immunovant, Inc. is a clinical-stage biopharmaceutical company developing treatments for autoimmune diseases. Its research focuses on inhibiting the neonatal Fc receptor (FcRn), a pathway involved in maintaining levels of disease-causing antibodies. The company’s investigational medicines include batoclimab and IMVT-1402, both designed to reduce circulating antibodies. Immunovant has studied or evaluated these candidates for conditions including myasthenia gravis, Graves’ disease and other autoimmune disorders.

Further Reading

• Five stocks we like better than Immunovant
• Checkmate for AI Chips? NVIDIA’s Crisis Opens the Board
• Can NVIDIA Maintain Its Momentum Without Huang?
• Six Flags Lost $366 Million in Q3—Its Insiders Just Went Shopping
• What Went Wrong With Amprius Technologies’ Q3? Less Than You’d Think

Receive News & Ratings for Immunovant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Immunovant and related companies with MarketBeat.com's FREE daily email newsletter.