Shares of Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) dropped 2.8% during mid-day trading on Monday . The stock traded as low as $30.33 and last traded at $30.59. Approximately 69,917 shares were traded during trading, a decline of 94% from the average daily volume of 1,235,007 shares. The stock had previously closed at $31.48.
Wall Street Analyst Weigh In
IMVT has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Immunovant in a research report on Tuesday, December 12th. They set a "buy" rating and a $50.00 price target for the company. Truist Financial reiterated a "buy" rating and issued a $48.00 target price on shares of Immunovant in a report on Monday, March 25th. JPMorgan Chase & Co. assumed coverage on Immunovant in a report on Tuesday, February 20th. They issued an "overweight" rating and a $51.00 target price for the company. The Goldman Sachs Group assumed coverage on Immunovant in a report on Wednesday, March 13th. They issued a "buy" rating and a $50.00 target price for the company. Finally, Bank of America lifted their price target on Immunovant from $49.00 to $51.00 and gave the stock a "buy" rating in a report on Thursday, December 21st. Seventeen equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Immunovant presently has a consensus rating of "Buy" and a consensus target price of $48.00.
Read Our Latest Analysis on Immunovant
Immunovant Stock Performance
The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of -16.80 and a beta of 0.65. The firm has a fifty day moving average of $34.30 and a 200-day moving average of $36.25.
Immunovant (NASDAQ:IMVT - Get Free Report) last announced its quarterly earnings results on Monday, February 12th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.07. On average, analysts predict that Immunovant, Inc. will post -1.7 EPS for the current year.
Insider Activity at Immunovant
In related news, CFO Eva Renee Barnett sold 3,515 shares of the stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $41.83, for a total value of $147,032.45. Following the completion of the sale, the chief financial officer now directly owns 323,350 shares in the company, valued at approximately $13,525,730.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Mark S. Levine sold 3,027 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $37.92, for a total transaction of $114,783.84. Following the transaction, the insider now owns 304,102 shares of the company's stock, valued at $11,531,547.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Eva Renee Barnett sold 3,515 shares of the stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $41.83, for a total transaction of $147,032.45. Following the transaction, the chief financial officer now directly owns 323,350 shares in the company, valued at approximately $13,525,730.50. The disclosure for this sale can be found here. In the last three months, insiders sold 12,030 shares of company stock worth $462,277. Corporate insiders own 4.80% of the company's stock.
Hedge Funds Weigh In On Immunovant
Several large investors have recently modified their holdings of the stock. Headlands Technologies LLC bought a new position in Immunovant in the fourth quarter worth about $27,000. Comerica Bank bought a new position in Immunovant in the third quarter worth about $26,000. KBC Group NV bought a new position in Immunovant in the fourth quarter worth about $56,000. Assetmark Inc. bought a new position in Immunovant in the fourth quarter worth about $61,000. Finally, Barclays PLC increased its stake in shares of Immunovant by 2,558.1% in the second quarter. Barclays PLC now owns 2,286 shares of the company's stock valued at $43,000 after purchasing an additional 2,200 shares during the period. Institutional investors own 47.08% of the company's stock.
About Immunovant
(
Get Free Report)
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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