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

Shares of Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) have earned an average recommendation of "Moderate Buy" from the ten analysts that are currently covering the firm, Marketbeat reports. Two investment 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 12-month price target among brokerages that have updated their coverage on the stock in the last year is $38.33.

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

Immunovant Stock Down 1.8%

IMVT traded down $0.28 during trading on Thursday, reaching $15.66. The company had a trading volume of 1,085,179 shares, compared to its average volume of 1,214,520. The stock has a market cap of $2.68 billion, a P/E ratio of -5.98 and a beta of 0.61. The business has a 50 day simple moving average of $14.95 and a 200-day simple moving average of $19.69. Immunovant has a 52 week low of $12.72 and a 52 week high of $34.47.

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

Insider Buying and Selling at Immunovant

In related 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 completion of the sale, the chief technology officer now directly owns 209,243 shares in the company, valued at approximately $3,094,703.97. The trade was a 0.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Peter Salzmann sold 28,094 shares of the business's stock in a transaction that occurred on Wednesday, April 9th. The stock was 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. The trade was a 2.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,682 shares of company stock valued at $596,619. 5.90% of the stock is owned by company insiders.

Institutional Trading of Immunovant

Several large investors have recently made changes to their positions in the company. FMR LLC grew its holdings in Immunovant by 4.5% in the 4th quarter. FMR LLC now owns 13,097,915 shares of the company's stock valued at $324,435,000 after buying an additional 560,344 shares in the last quarter. Vanguard Group Inc. grew its holdings in Immunovant by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 6,936,859 shares of the company's stock valued at $118,551,000 after buying an additional 257,445 shares in the last quarter. Deep Track Capital LP grew its holdings in Immunovant by 38.0% in the 4th quarter. Deep Track Capital LP now owns 6,000,000 shares of the company's stock valued at $148,620,000 after buying an additional 1,652,536 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in Immunovant by 15.2% in 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 buying an additional 777,590 shares in the last quarter. Finally, Baker BROS. Advisors LP grew its holdings in Immunovant by 219.6% in the 1st quarter. Baker BROS. Advisors LP now owns 5,457,881 shares of the company's stock valued at $93,275,000 after buying an additional 3,750,000 shares in the last quarter. 47.08% of the stock is currently owned by hedge funds and other 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.