Analysts Set Expectations for Immunovant FY2030 Earnings

Immunovant, Inc. (NASDAQ:IMVT - Free Report) - Investment analysts at HC Wainwright issued their FY2030 earnings per share estimates for Immunovant in a research report issued to clients and investors on Friday, May 30th. HC Wainwright analyst D. Tsao forecasts that the company will post earnings of $1.77 per share for the year. HC Wainwright currently has a "Buy" rating and a $51.00 price objective on the stock. The consensus estimate for Immunovant's current full-year earnings is ($2.69) per share.

Immunovant (NASDAQ:IMVT - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The company reported ($0.64) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.08. The firm had revenue of $0.16 million during the quarter. During the same period in the prior year, the business posted ($0.52) earnings per share.

Other analysts have also issued research reports about the stock. Bank of America lowered their price target on shares of Immunovant from $38.00 to $33.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. Cantor Fitzgerald raised shares of Immunovant to a "strong-buy" rating in a report on Tuesday, March 4th. Guggenheim restated a "buy" rating on shares of Immunovant in a research report on Thursday, March 20th. Jefferies Financial Group assumed coverage on Immunovant in a report on Monday, March 3rd. They issued a "hold" rating and a $20.00 price target for the company. Finally, UBS Group reiterated a "neutral" rating and issued a $17.00 price target (down from $38.00) on shares of Immunovant in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Immunovant presently has an average rating of "Moderate Buy" and an average price target of $38.33.

Immunovant Price Performance

NASDAQ:IMVT traded up $0.03 on Monday, reaching $15.44. 1,037,570 shares of the company's stock were exchanged, compared to its average volume of 1,197,264. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of -5.89 and a beta of 0.75. The stock has a fifty day simple moving average of $14.94 and a 200-day simple moving average of $20.31. Immunovant has a 52 week low of $12.72 and a 52 week high of $34.47.

Insider Transactions at Immunovant

In other Immunovant news, insider Michael Geffner sold 2,349 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $14.79, for a total value of $34,741.71. Following the sale, the insider now owns 225,370 shares of the company's stock, valued at $3,333,222.30. This trade represents a 1.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Jay S. Stout sold 1,925 shares of Immunovant stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $14.79, for a total value of $28,470.75. Following the sale, the chief technology officer now 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. Over the last quarter, insiders have sold 51,682 shares of company stock valued at $753,419. 5.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IMVT. ABC Arbitrage SA purchased a new position in Immunovant in the 4th quarter worth approximately $734,000. Vanguard Group Inc. raised its position in shares of Immunovant by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 6,679,414 shares of the company's stock valued at $165,449,000 after buying an additional 20,614 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Immunovant by 50.4% during the 4th quarter. Bank of America Corp DE now owns 341,535 shares of the company's stock worth $8,460,000 after acquiring an additional 114,511 shares during the last quarter. Rhumbline Advisers grew its position in Immunovant by 1.5% in the fourth quarter. Rhumbline Advisers now owns 80,932 shares of the company's stock worth $2,005,000 after acquiring an additional 1,188 shares in the last quarter. Finally, Sei Investments Co. increased its stake in Immunovant by 4.0% in the fourth quarter. Sei Investments Co. now owns 40,456 shares of the company's stock valued at $1,002,000 after acquiring an additional 1,541 shares during the last quarter. 47.08% of the stock is currently owned by institutional investors.

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.