HC Wainwright Predicts Immunovant FY2030 Earnings

Immunovant, Inc. (NASDAQ:IMVT - Free Report) - Stock analysts at HC Wainwright issued their FY2030 earnings per share estimates for shares of 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 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, beating the consensus estimate of ($0.72) by $0.08. The firm had revenue of $0.16 million during the quarter. During the same period last year, the business posted ($0.52) EPS.

Several other research analysts have also weighed in on the company. Bank of America dropped their price target on Immunovant from $38.00 to $33.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. UBS Group reissued a "neutral" rating and set a $17.00 price target (down from $38.00) on shares of Immunovant in a research report on Tuesday, April 22nd. Guggenheim reissued a "buy" rating on shares of Immunovant in a research report on Thursday, March 20th. Cantor Fitzgerald raised Immunovant to a "strong-buy" rating in a research report on Tuesday, March 4th. Finally, Jefferies Financial Group started coverage on Immunovant in a research note on Monday, March 3rd. They issued a "hold" rating and a $20.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $38.33.

Immunovant Trading Up 4.4%

Shares of Immunovant stock traded up $0.68 on Monday, reaching $16.02. 1,885,615 shares of the company were exchanged, compared to its average volume of 1,198,220. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of -6.11 and a beta of 0.61. Immunovant has a fifty-two week low of $12.72 and a fifty-two week high of $34.47. The stock has a fifty day moving average price of $14.82 and a 200-day moving average price of $20.24.

Insider Buying and Selling at Immunovant

In related news, CEO Peter Salzmann sold 28,094 shares of the stock in a transaction dated Wednesday, April 9th. The stock was 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 directly owns 1,186,512 shares in the company, valued at approximately $15,412,790.88. This trade represents a 2.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrew J. Fromkin sold 8,000 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $19.60, for a total value of $156,800.00. Following the transaction, the director now owns 91,913 shares of the company's stock, valued at approximately $1,801,494.80. The trade was a 8.01% decrease in their ownership of the stock. 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

Large investors have recently bought and sold shares of the stock. Strs Ohio acquired a new position in Immunovant during the first quarter valued at approximately $27,000. FNY Investment Advisers LLC acquired a new position in Immunovant during the first quarter valued at approximately $34,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Immunovant during the first quarter valued at approximately $37,000. Headlands Technologies LLC acquired a new position in Immunovant during the first quarter valued at approximately $51,000. Finally, Covestor Ltd boosted its position in Immunovant by 187.5% during the first quarter. Covestor Ltd now owns 3,764 shares of the company's stock valued at $64,000 after purchasing an additional 2,455 shares during the last quarter. 47.08% of the stock is owned by institutional investors and hedge funds.

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.