Immunovant (NASDAQ:IMVT) Rating Increased to Hold at The Goldman Sachs Group

Immunovant (NASDAQ:IMVT - Get Free Report) was upgraded by investment analysts at The Goldman Sachs Group to a "hold" rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The firm currently has a $18.00 price target on the stock. The Goldman Sachs Group's target price would suggest a potential upside of 2.86% from the company's previous close.

A number of other research firms also recently weighed in on IMVT. 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. Bank of America dropped their price objective on Immunovant from $38.00 to $33.00 and set a "buy" rating for the company in a report on Thursday, March 20th. HC Wainwright restated a "buy" rating and set a $51.00 target price on shares of Immunovant in a report on Wednesday, March 19th. Finally, Guggenheim restated a "buy" rating on shares of Immunovant in a research report on Thursday, March 20th. Three equities 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $36.30.

Immunovant Trading Up 1.2%

Shares of NASDAQ:IMVT opened at $17.50 on Thursday. Immunovant has a 1-year low of $12.72 and a 1-year high of $34.47. The stock has a market capitalization of $2.99 billion, a P/E ratio of -6.39 and a beta of 0.63. The business has a 50-day moving average price of $15.44 and a two-hundred day moving average price of $18.24.

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

Insiders Place Their Bets

In related news, CFO Eva Renee Barnett sold 2,993 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 396,774 shares of the company's stock, valued at approximately $5,907,964.86. This represents a 0.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Peter Salzmann sold 8,321 shares of Immunovant stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $14.89, for a total transaction of $123,899.69. Following the completion of the transaction, the chief executive officer directly owned 1,178,191 shares in the company, valued at approximately $17,543,263.99. The trade was a 0.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,588 shares of company stock valued at $231,678 in the last three months. Insiders own 5.90% of the company's stock.

Institutional Investors Weigh In On Immunovant

Several large investors have recently made changes to their positions in IMVT. Charles Schwab Investment Management Inc. lifted its position in Immunovant by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 564,442 shares of the company's stock valued at $13,981,000 after acquiring an additional 12,012 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Immunovant in the fourth quarter valued at about $505,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Immunovant by 29.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,884 shares of the company's stock valued at $5,843,000 after purchasing an additional 54,085 shares in the last quarter. Swiss National Bank boosted its position in shares of Immunovant by 1.2% during the fourth quarter. Swiss National Bank now owns 100,800 shares of the company's stock worth $2,497,000 after buying an additional 1,200 shares during the period. Finally, Intech Investment Management LLC grew its holdings in shares of Immunovant by 44.1% during the fourth quarter. Intech Investment Management LLC now owns 31,439 shares of the company's stock worth $779,000 after buying an additional 9,614 shares in the last quarter. Institutional investors own 47.08% of the company's stock.

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.