Immunovant, Inc. (NASDAQ:IMVT) Receives $38.33 Average Price Target from Brokerages

Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the ten brokerages that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $38.33.

IMVT has been the topic of a number of research analyst reports. UBS Group reissued a "neutral" rating and issued a $17.00 price target (down previously from $38.00) on shares of Immunovant in a report on Tuesday, April 22nd. Jefferies Financial Group assumed 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. Cantor Fitzgerald upgraded Immunovant to a "strong-buy" rating in a research report on Tuesday, March 4th. HC Wainwright reiterated a "buy" rating and issued a $51.00 price objective on shares of Immunovant in a report on Wednesday, March 19th. Finally, Guggenheim reiterated a "buy" rating on shares of Immunovant in a research report on Thursday, March 20th.

Immunovant Trading Down 3.9%

Shares of NASDAQ IMVT traded down $0.59 during midday trading on Friday, hitting $14.41. 1,074,370 shares of the company's stock were exchanged, compared to its average volume of 1,220,305. The business's fifty day moving average price is $15.76 and its two-hundred day moving average price is $21.31. The company has a market cap of $2.45 billion, a price-to-earnings ratio of -5.50 and a beta of 0.75. Immunovant has a 12-month low of $12.72 and a 12-month high of $34.47.

Insider Activity

In other Immunovant news, CEO Peter Salzmann sold 28,094 shares of the firm's stock in a transaction 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 sale, the chief executive officer now owns 1,186,512 shares of the company's stock, valued at $15,412,790.88. This trade represents a 2.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Geffner sold 2,349 shares of the business's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $14.79, for a total transaction of $34,741.71. Following the completion of the transaction, the insider now owns 225,370 shares in the company, valued at $3,333,222.30. The trade was a 1.03% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,682 shares of company stock valued at $753,419. Insiders own 5.90% of the company's stock.

Institutional Trading of Immunovant

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

Immunovant Company Profile

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.