Cantor Fitzgerald Estimates Immunovant FY2027 Earnings

Immunovant, Inc. (NASDAQ:IMVT - Free Report) - Equities researchers at Cantor Fitzgerald issued their FY2027 earnings per share (EPS) estimates for Immunovant in a report released on Monday, June 9th. Cantor Fitzgerald analyst P. Agrawal anticipates that the company will earn ($3.26) per share for the year. Cantor Fitzgerald currently has a "Strong-Buy" rating on the stock. The consensus estimate for Immunovant's current full-year earnings is ($2.69) per share.

Other analysts also recently issued research reports about the stock. Bank of America decreased their price objective on shares of Immunovant from $38.00 to $33.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. HC Wainwright restated a "buy" rating and issued a $51.00 price target on shares of Immunovant in a report on Wednesday, March 19th. Guggenheim reaffirmed a "buy" rating on shares of Immunovant in a research note on Thursday, March 20th. Jefferies Financial Group began coverage on Immunovant in a research report on Monday, March 3rd. They set a "hold" rating and a $20.00 target price on the stock. Finally, UBS Group restated a "neutral" rating and issued a $17.00 price target (down previously from $38.00) on shares of Immunovant in a research report on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $38.33.

Immunovant Trading Down 0.1%

Shares of IMVT traded down $0.01 during mid-day trading on Tuesday, hitting $16.73. The company's stock had a trading volume of 916,019 shares, compared to its average volume of 1,203,811. The firm has a market capitalization of $2.86 billion, a P/E ratio of -6.39 and a beta of 0.61. Immunovant has a 1-year low of $12.72 and a 1-year high of $34.47. The firm has a 50-day simple moving average of $14.84 and a 200 day simple moving average of $19.93.

Immunovant (NASDAQ:IMVT - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The company reported ($0.64) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.08. The company had revenue of $0.16 million during the quarter. During the same quarter in the previous year, the business earned ($0.52) EPS.

Insiders Place Their Bets

In related news, CEO Peter Salzmann sold 28,094 shares of the business's stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $12.99, for a total transaction of $364,941.06. Following the completion of the transaction, the chief executive officer now owns 1,186,512 shares in the company, valued at approximately $15,412,790.88. The trade was a 2.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jay S. Stout sold 1,925 shares of the firm's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $14.79, for a total transaction of $28,470.75. Following the completion of the transaction, the chief technology officer now directly owns 209,243 shares of the company's stock, valued at approximately $3,094,703.97. This trade represents a 0.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,682 shares of company stock valued at $596,619 in the last three months. Company insiders own 5.90% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of IMVT. FMR LLC lifted its holdings in Immunovant by 4.5% during the 4th quarter. FMR LLC now owns 13,097,915 shares of the company's stock worth $324,435,000 after purchasing an additional 560,344 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Immunovant by 3.9% in the first quarter. Vanguard Group Inc. now owns 6,936,859 shares of the company's stock valued at $118,551,000 after acquiring an additional 257,445 shares during the period. Deep Track Capital LP boosted its position in shares of Immunovant by 38.0% in the fourth quarter. Deep Track Capital LP now owns 6,000,000 shares of the company's stock valued at $148,620,000 after acquiring an additional 1,652,536 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in shares of Immunovant by 15.2% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,894,824 shares of the company's stock valued at $100,743,000 after acquiring an additional 777,590 shares in the last quarter. Finally, Baker BROS. Advisors LP raised its stake in Immunovant by 219.6% in the 1st quarter. Baker BROS. Advisors LP now owns 5,457,881 shares of the company's stock worth $93,275,000 after purchasing an additional 3,750,000 shares in the last quarter. Institutional investors and hedge funds own 47.08% of the company's stock.

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.