Immunovant, Inc. (IMVT) - What Are Investment Firms Saying About This Stock?

Key Points

• Analyst sentiment is moderately bullish: Eight of 12 analysts rate Immunovant a “buy,” three recommend holding, and one rates it a sell. The average 12-month price target is $44, above the reported $28.41 share price.
• Immunovant reported a quarterly loss of $0.75 per share, missing the $0.63 consensus estimate, while revenue of $7.09 million matched expectations. Analysts expect a full-year loss of approximately $2.96 per share.
• Institutional investors own 47.08% of the company, with several funds increasing their stakes. Recent insider stock sales were made to cover tax obligations tied to vested equity awards, and insiders retain a 1.90% ownership stake.

Shares of Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) have been given an average recommendation of "Moderate Buy" by the twelve research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $44.00.

A number of analysts have commented on IMVT shares. Sanford C. Bernstein upgraded shares of Immunovant to a "hold" rating in a research note on Wednesday, July 29th. UBS Group reaffirmed a "buy" rating on shares of Immunovant in a research report on Wednesday, September 23rd. HC Wainwright restated a "buy" rating on shares of Immunovant in a research report on Thursday, September 24th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Immunovant in a research note on Friday, October 2nd. Finally, JPMorgan Chase & Co. lifted their price target on Immunovant from $47.00 to $50.00 and gave the stock an "overweight" rating in a report on Tuesday, August 4th.

Immunovant Price Performance

Shares of NASDAQ IMVT opened at $28.41 on Friday. The business has a 50-day moving average of $35.98 and a 200-day moving average of $34.70. The stock has a market capitalization of $5.87 billion, a price-to-earnings ratio of -10.07 and a beta of 0.84. Immunovant has a fifty-two week low of $18.74 and a fifty-two week high of $45.42.

Immunovant (NASDAQ:IMVT - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.12). The company had revenue of $7.09 million during the quarter, compared to analysts' expectations of $7.09 million. During the same period in the previous year, the business earned ($0.71) earnings per share. On average, sell-side analysts expect that Immunovant will post -2.96 EPS for the current year.

Insider Transactions at Immunovant

In other news, CEO Eric Venker sold 3,506 shares of the company's stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $34.11, for a total transaction of $119,589.66. Following the completion of the sale, the chief executive officer directly owned 257,075 shares in the company, valued at approximately $8,768,828.25. This represents a 1.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Christopher Van Tuyl sold 2,846 shares of the stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $36.36, for a total transaction of $103,480.56. Following the sale, the insider owned 176,545 shares in the company, valued at $6,419,176.20. This represents a 1.59% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 17,824 shares of company stock worth $599,581. Corporate insiders own 1.90% of the company's stock.

Institutional Trading of Immunovant

Large investors have recently bought and sold shares of the business. Sterling Capital Management LLC lifted its stake in shares of Immunovant by 856.0% in the 3rd quarter. Sterling Capital Management LLC now owns 2,868 shares of the company's stock valued at $97,000 after acquiring an additional 2,568 shares during the last quarter. Inspire Investing LLC bought a new stake in Immunovant during the 3rd quarter worth approximately $413,000. GAMMA Investing LLC grew its holdings in Immunovant by 63.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,224 shares of the company's stock worth $41,000 after acquiring an additional 476 shares during the last quarter. Two Seas Capital LP grew its holdings in Immunovant by 46.5% during the 3rd quarter. Two Seas Capital LP now owns 4,612,692 shares of the company's stock worth $155,817,000 after acquiring an additional 1,464,187 shares during the last quarter. Finally, Engineers Gate Manager LP increased its position in Immunovant by 179.7% in the 2nd quarter. Engineers Gate Manager LP now owns 24,220 shares of the company's stock valued at $933,000 after acquiring an additional 15,560 shares during the period. 47.08% of the stock is owned by institutional investors and hedge funds.

About Immunovant

Immunovant, Inc NASDAQ: IMVT is a clinical-stage biopharmaceutical company developing medicines for autoimmune diseases. The company focuses on conditions in which disease-causing immunoglobulin G (IgG) antibodies contribute to tissue damage and other symptoms.

Immunovant's lead product candidate is batoclimab, also known as IMVT-1401, a fully human monoclonal antibody designed to inhibit the neonatal Fc receptor (FcRn). By reducing the circulation of pathogenic IgG antibodies, batoclimab is being evaluated as a potential treatment for autoimmune disorders, including generalized myasthenia gravis, thyroid eye disease and chronic inflammatory demyelinating polyneuropathy.

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