The Goldman Sachs Group Upgrades Immunovant (NASDAQ:IMVT) to Hold

The Goldman Sachs Group upgraded shares of Immunovant (NASDAQ:IMVT - Free Report) to a hold rating in a research report report published on Thursday morning, MarketBeat Ratings reports. The Goldman Sachs Group currently has $18.00 target price on the stock.

Other research analysts also recently issued reports about the company. Bank of America cut their target price on Immunovant from $38.00 to $33.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. HC Wainwright reaffirmed a "buy" rating and set a $51.00 target price on shares of Immunovant in a report on Wednesday, March 19th. UBS Group reaffirmed a "neutral" rating and set a $17.00 target price (down from $38.00) on shares of Immunovant in a report on Tuesday, April 22nd. Finally, Guggenheim reaffirmed a "buy" rating on shares of Immunovant in a report on Thursday, March 20th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.30.

Immunovant Stock Up 3.2%

Shares of IMVT stock traded up $0.56 during trading hours on Thursday, reaching $18.06. The company's stock had a trading volume of 745,915 shares, compared to its average volume of 1,218,964. Immunovant has a fifty-two week low of $12.72 and a fifty-two week high of $34.47. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of -6.61 and a beta of 0.63. The firm's 50 day simple moving average is $15.44 and its 200-day simple moving average is $18.24.

Immunovant (NASDAQ:IMVT - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The company reported ($0.64) EPS for the quarter, beating analysts' consensus estimates of ($0.72) by $0.08. The firm had revenue of $0.16 million during the quarter. During the same period last year, the firm earned ($0.52) EPS. Sell-side analysts predict that Immunovant will post -2.69 earnings per share for the current year.

Insider Transactions at Immunovant

In related news, CFO Eva Renee Barnett sold 2,993 shares of the business's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $14.89, for a total value of $44,565.77. Following the completion of the sale, the chief financial officer directly owned 396,774 shares of the company's stock, valued at $5,907,964.86. The trade was a 0.75% decrease in their position. The sale was disclosed in a filing with the SEC, 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 value of $34,741.71. Following the completion of the sale, the insider directly owned 225,370 shares of the company's stock, valued at $3,333,222.30. The trade was a 1.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,588 shares of company stock valued at $231,678. 5.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Immunovant

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IMVT. Charles Schwab Investment Management Inc. increased its holdings in Immunovant by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 564,442 shares of the company's stock worth $13,981,000 after purchasing an additional 12,012 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Immunovant during the 4th quarter worth approximately $505,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Immunovant by 29.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,884 shares of the company's stock worth $5,843,000 after purchasing an additional 54,085 shares in the last quarter. Swiss National Bank increased its holdings in Immunovant by 1.2% during the 4th quarter. Swiss National Bank now owns 100,800 shares of the company's stock worth $2,497,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Intech Investment Management LLC increased its holdings in Immunovant by 44.1% during the 4th quarter. Intech Investment Management LLC now owns 31,439 shares of the company's stock worth $779,000 after purchasing an additional 9,614 shares in the last quarter. 47.08% of the stock is owned by 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.