Leerink Partnrs Estimates Immunovant FY2030 Earnings

Immunovant, Inc. (NASDAQ:IMVT - Free Report) - Leerink Partnrs issued their FY2030 earnings per share estimates for shares of Immunovant in a research report issued on Thursday, May 29th. Leerink Partnrs analyst T. Smith forecasts that the company will post earnings per share of $1.06 for the year. The consensus estimate for Immunovant's current full-year earnings is ($2.69) per share.

Other research analysts have also issued reports about the stock. UBS Group reissued a "neutral" rating and set a $17.00 target price (down from $38.00) on shares of Immunovant in a research note on Tuesday, April 22nd. Jefferies Financial Group assumed coverage on shares of Immunovant in a report on Monday, March 3rd. They set a "hold" rating and a $20.00 price objective on the stock. Cantor Fitzgerald upgraded Immunovant to a "strong-buy" rating in a research note on Tuesday, March 4th. Guggenheim reaffirmed a "buy" rating on shares of Immunovant in a research note on Thursday, March 20th. Finally, Bank of America cut their price target on Immunovant from $38.00 to $33.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $38.33.

Immunovant Stock Performance

Shares of IMVT stock traded up $0.03 during trading hours on Monday, hitting $15.44. 1,037,570 shares of the company were exchanged, compared to its average volume of 1,197,264. The company has a 50 day simple moving average of $14.94 and a two-hundred day simple moving average of $20.31. The firm has a market cap of $2.62 billion, a P/E ratio of -5.89 and a beta of 0.75. Immunovant has a fifty-two week low of $12.72 and a fifty-two week high of $34.47.

Immunovant (NASDAQ:IMVT - Get Free Report) last issued its 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 during the quarter. During the same period in the prior year, the firm posted ($0.52) EPS.

Insiders Place Their Bets

In related news, CTO Jay S. Stout sold 1,925 shares of the company's stock in a transaction 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 owns 209,243 shares in the company, valued at approximately $3,094,703.97. This represents a 0.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Andrew J. Fromkin sold 8,000 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $19.60, for a total value of $156,800.00. Following the completion of the sale, the director now directly owns 91,913 shares of the company's stock, valued at $1,801,494.80. The trade was a 8.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,682 shares of company stock valued at $753,419. Corporate insiders own 5.90% of the company's stock.

Institutional Trading of Immunovant

Several institutional investors and hedge funds have recently made changes to their positions in IMVT. Mirae Asset Global Investments Co. Ltd. increased its stake in Immunovant by 21.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,928 shares of the company's stock valued at $109,000 after buying an additional 1,037 shares during the last quarter. KBC Group NV grew its holdings in shares of 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 acquiring an additional 1,163 shares in the last quarter. Rhumbline Advisers increased its position in shares of Immunovant by 1.5% during the fourth quarter. Rhumbline Advisers now owns 80,932 shares of the company's stock valued at $2,005,000 after acquiring an additional 1,188 shares during the last quarter. Swiss National Bank increased 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 valued at $2,497,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in Immunovant by 4.0% during the fourth quarter. Sei Investments Co. now owns 40,456 shares of the company's stock worth $1,002,000 after acquiring an additional 1,541 shares during the period. Hedge funds and other institutional investors own 47.08% of the company's stock.

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.