Immunovant, Inc. (NASDAQ:IMVT) Receives $33.60 Consensus PT from Analysts

Key Points

• The consensus rating for Immunovant, Inc. is a Moderate Buy from twelve analysts, with an average 1-year price target of $33.60.
• Insider trading reveals that key executives, including Michael Geffner and CTO Jay S. Stout, sold shares at an average price of $18.15 in July.
• Immunovant reported an EPS of ($0.60) for the last quarter, exceeding analysts' estimates and maintaining the same figure as the previous year.

Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) has been given an average recommendation of "Moderate Buy" by the twelve ratings firms that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $33.60.

A number of equities research analysts have recently weighed in on IMVT shares. JPMorgan Chase & Co. lowered their price target on Immunovant from $40.00 to $37.00 and set an "overweight" rating for the company in a report on Tuesday, August 12th. HC Wainwright reaffirmed a "buy" rating and set a $35.00 target price on shares of Immunovant in a research report on Thursday, September 4th. UBS Group upped their price target on Immunovant from $17.00 to $18.00 and gave the company a "neutral" rating in a research 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. Finally, Citigroup reissued a "buy" rating on shares of Immunovant in a report on Monday, August 11th.

Insider Transactions at Immunovant

In other Immunovant news, CTO Jay S. Stout sold 2,805 shares of Immunovant stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $18.15, for a total transaction of $50,910.75. Following the transaction, the chief technology officer owned 204,919 shares of the company's stock, valued at $3,719,279.85. This trade represents a 1.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Geffner sold 2,385 shares of Immunovant stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $18.15, for a total transaction of $43,287.75. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,869 shares of company stock worth $140,384. Corporate insiders own 1.80% of the company's stock.

Institutional Investors Weigh In On Immunovant

Several institutional investors have recently made changes to their positions in the company. Ameriprise Financial Inc. purchased a new position in shares of Immunovant in the 4th quarter worth approximately $221,000. Bank of America Corp DE lifted its stake in Immunovant by 50.4% during the 4th quarter. Bank of America Corp DE now owns 341,535 shares of the company's stock valued at $8,460,000 after acquiring an additional 114,511 shares during the period. ProShare Advisors LLC lifted its stake in shares of Immunovant by 18.8% in the 4th quarter. ProShare Advisors LLC now owns 23,300 shares of the company's stock valued at $577,000 after purchasing an additional 3,681 shares during the period. Two Sigma Advisers LP acquired a new position in shares of Immunovant in the 4th quarter valued at $270,000. Finally, Twinbeech Capital LP acquired a new position in shares of Immunovant in the 4th quarter valued at $314,000. Institutional investors own 47.08% of the company's stock.

Immunovant Stock Down 1.2%

Shares of NASDAQ IMVT traded down $0.19 during midday trading on Friday, reaching $15.40. 144,469 shares of the stock were exchanged, compared to its average volume of 1,488,194. The firm has a 50-day simple moving average of $16.03 and a two-hundred day simple moving average of $16.00. Immunovant has a twelve month low of $12.72 and a twelve month high of $32.10. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of -5.41 and a beta of 0.45.

Immunovant (NASDAQ:IMVT - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.69) by $0.09. During the same quarter in the previous year, the business earned ($0.60) earnings per share. Research analysts expect 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.