Immunovant, Inc. (NASDAQ:IMVT) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Immunovant, Inc. has received a consensus rating of "Moderate Buy" from eleven research firms, with an average target price of $36.40.
• Insider transactions showed that CTO Jay S. Stout and another insider sold a total of 5,190 shares recently, indicating a 1.35% and 1.06% decrease in their respective holdings.
• Institutional investors now own 47.08% of Immunovant's stock, with significant investments from firms like JPMorgan Chase, which increased its stake by 405.3%.

Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) has been assigned an average rating of "Moderate Buy" from the eleven research firms that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $36.40.

A number of equities research analysts have weighed in on IMVT shares. UBS Group lifted their target price on Immunovant from $17.00 to $18.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. The Goldman Sachs Group upgraded Immunovant to a "hold" rating and set a $18.00 target price on the stock in a research note on Thursday, July 10th.

Insider Buying and Selling

In other news, CTO Jay S. Stout sold 2,805 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $18.15, for a total value of $50,910.75. Following the completion of the transaction, the chief technology officer owned 204,919 shares of the company's stock, valued at approximately $3,719,279.85. This represents a 1.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Geffner sold 2,385 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $18.15, for a total value of $43,287.75. Following the completion of the transaction, the insider directly owned 221,825 shares of the company's stock, valued at $4,026,123.75. This represents a 1.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,869 shares of company stock valued at $140,384 in the last ninety days. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Immunovant

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new position in shares of Immunovant in the 4th quarter worth $505,000. Sei Investments Co. increased its stake in Immunovant by 4.0% in the 4th quarter. Sei Investments Co. now owns 40,456 shares of the company's stock worth $1,002,000 after acquiring an additional 1,541 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Immunovant during the fourth quarter worth approximately $268,000. Vanguard Group Inc. grew its stake in shares of Immunovant by 0.3% during the fourth 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 during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Immunovant by 405.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,153,338 shares of the company's stock worth $28,568,000 after purchasing an additional 925,081 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company's stock.

Immunovant Price Performance

NASDAQ:IMVT traded down $0.37 during trading hours on Friday, hitting $15.71. The company's stock had a trading volume of 1,534,963 shares, compared to its average volume of 1,297,988. The stock has a fifty day simple moving average of $16.41 and a 200-day simple moving average of $17.47. The company has a market capitalization of $2.69 billion, a P/E ratio of -5.73 and a beta of 0.66. Immunovant has a twelve month low of $12.72 and a twelve month high of $34.47.

Immunovant (NASDAQ:IMVT - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported ($0.64) EPS 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 in the previous year, the company earned ($0.52) EPS. On average, equities analysts predict that Immunovant will post -2.69 EPS for the current fiscal year.

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.