Immunovant (NASDAQ:IMVT) Given Neutral Rating at UBS Group

Immunovant (NASDAQ:IMVT - Get Free Report)'s stock had its "neutral" rating reiterated by equities researchers at UBS Group in a report released on Tuesday, Marketbeat Ratings reports. They presently have a $17.00 price target on the stock, down from their prior price target of $38.00. UBS Group's target price suggests a potential upside of 15.49% from the company's current price.

Other research analysts have also recently issued research reports about the stock. Guggenheim reaffirmed a "buy" rating on shares of Immunovant in a research report on Thursday, March 20th. Jefferies Financial Group assumed coverage on shares of Immunovant in a report on Monday, March 3rd. They issued a "hold" rating and a $20.00 price objective on the stock. Cantor Fitzgerald raised shares of Immunovant to a "strong-buy" rating in a research report on Tuesday, March 4th. 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 research report on Thursday, March 20th. Finally, Wolfe Research lowered Immunovant from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $38.33.

Immunovant Price Performance

Shares of IMVT stock traded down $0.35 during trading on Tuesday, hitting $14.72. 1,152,850 shares of the stock traded hands, compared to its average volume of 1,199,411. Immunovant has a 52-week low of $12.72 and a 52-week high of $34.47. The firm has a market capitalization of $2.50 billion, a P/E ratio of -5.62 and a beta of 0.81. The firm's fifty day moving average price is $17.50 and its 200-day moving average price is $23.07.

Immunovant (NASDAQ:IMVT - Get Free Report) last posted its earnings results on Monday, February 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.08). As a group, equities research analysts expect that Immunovant will post -2.69 earnings per share for the current year.

Insiders Place Their Bets

In other Immunovant news, Director Andrew J. Fromkin sold 8,000 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $19.60, for a total value of $156,800.00. Following the sale, the director now owns 91,913 shares of the company's stock, valued at $1,801,494.80. This trade represents a 8.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Geffner sold 2,349 shares of Immunovant 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 transaction, the insider now owns 225,370 shares of the company's stock, valued at $3,333,222.30. The trade was a 1.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,682 shares of company stock worth $753,419 over the last 90 days. Corporate insiders own 5.90% of the company's stock.

Institutional Trading of Immunovant

Several hedge funds have recently added to or reduced their stakes in IMVT. Geode Capital Management LLC grew its holdings in Immunovant by 6.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,510,926 shares of the company's stock worth $43,085,000 after acquiring an additional 96,924 shares in the last quarter. Tyro Capital Management LLC lifted its position in shares of Immunovant by 0.6% during the 3rd quarter. Tyro Capital Management LLC now owns 252,149 shares of the company's stock worth $7,189,000 after purchasing an additional 1,529 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Immunovant by 69.9% during the third quarter. Principal Financial Group Inc. now owns 951,124 shares of the company's stock worth $27,117,000 after purchasing an additional 391,436 shares in the last quarter. KBC Group NV increased its holdings in Immunovant by 60.1% in the fourth quarter. KBC Group NV now owns 3,099 shares of the company's stock valued at $77,000 after buying an additional 1,163 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its stake in Immunovant by 10.6% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 31,124 shares of the company's stock valued at $771,000 after buying an additional 2,973 shares in the last quarter. Institutional investors and hedge funds 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.