Immunovant, Inc. (NASDAQ:IMVT) Receives Consensus Rating of "Moderate Buy" from Brokerages

Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the ten ratings firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $38.33.

Several equities analysts have recently commented on IMVT shares. Guggenheim restated a "buy" rating on shares of Immunovant in a research report on Thursday, March 20th. Jefferies Financial Group initiated coverage on Immunovant in a research report on Monday, March 3rd. They issued a "hold" rating and a $20.00 target price on the stock. Bank of America decreased their target price on Immunovant from $38.00 to $33.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. HC Wainwright reiterated a "buy" rating and issued a $51.00 target price on shares of Immunovant in a research report on Wednesday, March 19th. Finally, UBS Group reiterated a "neutral" rating and issued a $17.00 target price (down from $38.00) on shares of Immunovant in a research report on Tuesday, April 22nd.

Insiders Place Their Bets

In other Immunovant news, CTO Jay S. Stout sold 1,925 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $14.79, for a total transaction of $28,470.75. Following the sale, the chief technology officer now directly owns 209,243 shares of the company's stock, valued at $3,094,703.97. The trade was a 0.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Peter Salzmann sold 28,094 shares of the company'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 value of $364,941.06. Following the transaction, the chief executive officer now directly owns 1,186,512 shares in the company, valued at approximately $15,412,790.88. This represents a 2.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,682 shares of company stock valued at $753,419 over the last ninety days. 5.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. FNY Investment Advisers LLC bought a new position in shares of Immunovant during the first quarter valued at approximately $34,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Immunovant in the first quarter worth approximately $37,000. Headlands Technologies LLC bought a new position in Immunovant in the first quarter worth approximately $51,000. GF Fund Management CO. LTD. bought a new position in Immunovant in the fourth quarter worth approximately $76,000. Finally, KBC Group NV grew its stake in Immunovant by 60.1% in the fourth quarter. KBC Group NV now owns 3,099 shares of the company's stock worth $77,000 after purchasing an additional 1,163 shares in the last quarter. Institutional investors own 47.08% of the company's stock.

Immunovant Stock Performance

Shares of Immunovant stock traded down $0.10 during trading hours on Friday, hitting $14.46. The company's stock had a trading volume of 754,314 shares, compared to its average volume of 1,222,308. The business has a 50 day moving average price of $15.46 and a two-hundred day moving average price of $21.05. Immunovant has a 12-month low of $12.72 and a 12-month high of $34.47. The company has a market cap of $2.46 billion, a PE ratio of -5.52 and a beta of 0.75.

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.