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

Shares of Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) have been given an average recommendation of "Moderate Buy" by the ten brokerages that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $38.33.

A number of research firms recently weighed in on IMVT. Guggenheim reaffirmed a "buy" rating on shares of Immunovant in a report on Thursday, March 20th. UBS Group reissued a "neutral" rating and issued a $17.00 price target (down previously from $38.00) on shares of Immunovant in a research note on Tuesday, April 22nd. HC Wainwright reissued a "buy" rating and issued a $51.00 price target on shares of Immunovant in a research note on Wednesday, March 19th. Finally, Bank of America cut their price target on shares of Immunovant from $38.00 to $33.00 and set a "buy" rating for the company in a research note on Thursday, March 20th.

Immunovant Stock Performance

Immunovant stock opened at $16.80 on Monday. Immunovant has a fifty-two week low of $12.72 and a fifty-two week high of $34.47. The stock has a market cap of $2.87 billion, a PE ratio of -6.13 and a beta of 0.63. The firm's 50-day simple moving average is $15.33 and its 200 day simple moving average is $18.38.

Immunovant (NASDAQ:IMVT - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported ($0.64) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.08. The firm had revenue of $0.16 million for the quarter. During the same quarter in the previous year, the business posted ($0.52) EPS. As a group, analysts predict that Immunovant will post -2.69 EPS for the current fiscal year.

Insider Activity

In related news, CTO Jay S. Stout sold 1,925 shares of the stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $14.79, for a total value of $28,470.75. Following the completion of the transaction, the chief technology officer directly owned 209,243 shares in the company, valued at $3,094,703.97. This trade represents a 0.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Eva Renee Barnett sold 2,993 shares of the stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $14.89, for a total transaction of $44,565.77. Following the completion of the transaction, the chief financial officer owned 396,774 shares of the company's stock, valued at approximately $5,907,964.86. The trade was a 0.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,682 shares of company stock worth $596,619. 5.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. FMR LLC grew its position in Immunovant by 4.5% during the 4th quarter. FMR LLC now owns 13,097,915 shares of the company's stock valued at $324,435,000 after purchasing an additional 560,344 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Immunovant by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 6,936,859 shares of the company's stock valued at $118,551,000 after acquiring an additional 257,445 shares during the last quarter. Deep Track Capital LP boosted its holdings in shares of Immunovant by 38.0% during the 4th quarter. Deep Track Capital LP now owns 6,000,000 shares of the company's stock valued at $148,620,000 after acquiring an additional 1,652,536 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Immunovant by 15.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,894,824 shares of the company's stock valued at $100,743,000 after acquiring an additional 777,590 shares during the last quarter. Finally, Baker BROS. Advisors LP boosted its holdings in shares of Immunovant by 219.6% during the 1st quarter. Baker BROS. Advisors LP now owns 5,457,881 shares of the company's stock valued at $93,275,000 after acquiring an additional 3,750,000 shares during the last quarter. 47.08% of the stock is currently owned by institutional investors.

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.

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