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

Immunovant, Inc. (NASDAQ:IMVT) has been given an average rating of “Moderate Buy” by the twelve ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $28.7778.

Several equities analysts have commented on IMVT shares. HC Wainwright reiterated a “buy” rating and issued a $35.00 price target on shares of Immunovant in a research note on Thursday, September 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Immunovant in a report on Tuesday, October 14th. JPMorgan Chase & Co. dropped their target price on shares of Immunovant from $37.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 30th. UBS Group lifted their price target on shares of Immunovant from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, July 28th. Finally, Citigroup restated a “buy” rating on shares of Immunovant in a research note on Monday, August 11th.

Insider Activity

In related news, CTO Jay S. Stout sold 2,520 shares of the company’s stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $19.03, for a total value of $47,955.60. Following the completion of the sale, the chief technology officer directly owned 200,814 shares of the company’s stock, valued at $3,821,490.42. This represents a 1.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Geffner sold 2,595 shares of the firm’s stock in a transaction that occurred on Wednesday, October 22nd. The stock was sold at an average price of $19.03, for a total value of $49,382.85. Following the transaction, the insider owned 217,958 shares in the company, valued at $4,147,740.74. This represents a 1.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 7,972 shares of company stock valued at $143,908 over the last three months. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Immunovant

A number of hedge funds have recently modified their holdings of the business. EFG Asset Management North America Corp. raised its position in Immunovant by 76.2% in the 1st quarter. EFG Asset Management North America Corp. now owns 130,356 shares of the company’s stock valued at $2,226,000 after purchasing an additional 56,375 shares during the last quarter. Two Seas Capital LP grew its position in Immunovant by 8.7% during the 1st quarter. Two Seas Capital LP now owns 1,642,772 shares of the company’s stock worth $28,075,000 after purchasing an additional 131,158 shares during the last quarter. Woodline Partners LP increased its stake in Immunovant by 133.0% in the first quarter. Woodline Partners LP now owns 1,497,869 shares of the company’s stock valued at $25,599,000 after purchasing an additional 855,143 shares during the period. Teacher Retirement System of Texas increased its stake in Immunovant by 19.2% in the first quarter. Teacher Retirement System of Texas now owns 18,122 shares of the company’s stock valued at $310,000 after purchasing an additional 2,919 shares during the period. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of Immunovant by 438.2% in the first quarter. Cubist Systematic Strategies LLC now owns 58,122 shares of the company’s stock valued at $993,000 after buying an additional 47,322 shares during the last quarter. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Immunovant Price Performance

Immunovant stock opened at $23.35 on Friday. The stock’s fifty day moving average is $17.94 and its two-hundred day moving average is $16.51. The stock has a market cap of $4.07 billion, a PE ratio of -8.19 and a beta of 0.60. Immunovant has a 1-year low of $12.72 and a 1-year high of $31.65.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings data on Monday, August 11th. The company reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.09. During the same period in the previous year, the company posted ($0.60) earnings per share. On average, research analysts expect that Immunovant will post -2.69 earnings per share for the current fiscal year.

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.