Immunovant's (IMVT) "Sell (D-)" Rating Reaffirmed at Weiss Ratings

Key Points

• Analysts at Weiss Ratings reaffirmed a "sell (D-)" rating for Immunovant (NASDAQ:IMVT) stock.
• Despite the sell rating, the average analyst rating for Immunovant is a "Moderate Buy" with a price target of $28.78.
• Insider trades show a decrease in ownership among company executives, with sales totaling $140,768 in the last three months.

Immunovant (NASDAQ:IMVT - Get Free Report)'s stock had its "sell (d-)" rating reissued by analysts at Weiss Ratings in a note issued to investors on Tuesday,Weiss Ratings reports.

IMVT has been the topic of several other reports. UBS Group raised their price objective on shares of Immunovant from $17.00 to $18.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. HC Wainwright restated a "buy" rating and set a $35.00 price objective on shares of Immunovant in a research report on Thursday, September 4th. The Goldman Sachs Group upgraded shares of Immunovant to a "hold" rating and set a $18.00 price objective on the stock in a research report on Thursday, July 10th. Citigroup reiterated a "buy" rating on shares of Immunovant in a report on Monday, August 11th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Immunovant from $37.00 to $33.00 and set an "overweight" rating on the stock in a report on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Immunovant presently has an average rating of "Moderate Buy" and an average price target of $28.78.

Immunovant Stock Performance

Shares of Immunovant stock traded up $0.12 on Tuesday, hitting $17.47. 444,537 shares of the company's stock were exchanged, compared to its average volume of 1,500,982. The company has a 50-day simple moving average of $15.76 and a 200-day simple moving average of $15.71. The stock has a market capitalization of $3.05 billion, a PE ratio of -6.13 and a beta of 0.48. Immunovant has a 1 year low of $12.72 and a 1 year high of $32.10.

Immunovant (NASDAQ:IMVT - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.09. During the same quarter in the prior year, the company earned ($0.60) EPS. On average, analysts expect that Immunovant will post -2.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other Immunovant news, insider Michael Geffner sold 2,385 shares of Immunovant stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $18.15, for a total value of $43,287.75. Following the completion of the transaction, the insider directly owned 221,825 shares of the company's stock, valued at $4,026,123.75. This trade represents a 1.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Jay S. Stout sold 2,805 shares of Immunovant stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $18.15, for a total transaction of $50,910.75. Following the completion of the transaction, the chief technology officer directly owned 204,919 shares of the company's stock, valued at $3,719,279.85. The trade was a 1.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,047 shares of company stock valued at $140,768 over the last three months. Corporate insiders own 1.80% of the company's stock.

Hedge Funds Weigh In On Immunovant

A number of large investors have recently made changes to their positions in IMVT. GAMMA Investing LLC boosted its stake in shares of Immunovant by 3,816.8% during the 1st quarter. GAMMA Investing LLC now owns 5,366 shares of the company's stock worth $920,000 after purchasing an additional 5,229 shares during the period. Rhumbline Advisers boosted its stake in shares of Immunovant by 3.2% during the 1st quarter. Rhumbline Advisers now owns 83,555 shares of the company's stock worth $1,428,000 after purchasing an additional 2,623 shares during the period. FNY Investment Advisers LLC purchased a new position in shares of Immunovant during the 1st quarter worth about $34,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Immunovant by 21.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,928 shares of the company's stock worth $109,000 after purchasing an additional 1,037 shares during the period. Finally, Teacher Retirement System of Texas boosted its stake in shares of Immunovant by 19.2% during the 1st quarter. Teacher Retirement System of Texas now owns 18,122 shares of the company's stock worth $310,000 after purchasing an additional 2,919 shares during the period. 47.08% of the stock is owned by hedge funds and other 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.

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