Immunovant, Inc. (NASDAQ:IMVT) Given Consensus Recommendation of “Buy” by Brokerages

Immunovant, Inc. (NASDAQ:IMVT) has received a consensus rating of “Buy” from the seventeen analysts that are covering the firm, MarketBeat reports. Seventeen investment analysts have rated the stock with a buy rating. The average 12-month price target among brokers that have covered the stock in the last year is $48.75.

Several research firms recently commented on IMVT. HC Wainwright reiterated a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a report on Thursday, May 30th. The Goldman Sachs Group began coverage on shares of Immunovant in a research report on Wednesday, March 13th. They set a “buy” rating and a $50.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a research report on Tuesday, June 18th. Oppenheimer lowered their price target on Immunovant from $50.00 to $46.00 and set an “outperform” rating on the stock in a report on Monday, June 3rd. Finally, Truist Financial reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Immunovant in a report on Monday, March 25th.

Immunovant Stock Up 4.2 %

Shares of IMVT opened at $27.51 on Thursday. Immunovant has a twelve month low of $18.16 and a twelve month high of $45.58. The company has a market capitalization of $4.02 billion, a P/E ratio of -14.48 and a beta of 0.67. The firm has a 50 day moving average of $27.86 and a 200 day moving average of $33.27.

Immunovant (NASDAQ:IMVT) last posted its earnings results on Wednesday, May 29th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.08). During the same period last year, the company earned ($0.46) earnings per share. On average, sell-side analysts expect that Immunovant will post -2.11 EPS for the current year.

Insider Activity at Immunovant

In other Immunovant news, insider Julia G. Butchko sold 1,053 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $31.18, for a total transaction of $32,832.54. Following the sale, the insider now directly owns 461,742 shares of the company’s stock, valued at $14,397,115.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Immunovant news, insider Julia G. Butchko sold 1,053 shares of the stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $31.18, for a total transaction of $32,832.54. Following the completion of the sale, the insider now directly owns 461,742 shares of the company’s stock, valued at approximately $14,397,115.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Peter Salzmann sold 34,079 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $29.06, for a total transaction of $990,335.74. Following the completion of the transaction, the chief executive officer now directly owns 1,052,879 shares in the company, valued at approximately $30,596,663.74. The disclosure for this sale can be found here. In the last quarter, insiders have sold 99,948 shares of company stock worth $2,936,889. 5.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Immunovant

Large investors have recently made changes to their positions in the company. Rhumbline Advisers increased its position in Immunovant by 3.3% in the third quarter. Rhumbline Advisers now owns 74,565 shares of the company’s stock worth $2,863,000 after purchasing an additional 2,367 shares during the last quarter. Invesco Ltd. grew its stake in shares of Immunovant by 957.8% in the 3rd quarter. Invesco Ltd. now owns 239,055 shares of the company’s stock worth $9,177,000 after buying an additional 216,455 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in shares of Immunovant in the 3rd quarter worth about $395,000. Trexquant Investment LP purchased a new stake in shares of Immunovant during the 3rd quarter valued at about $2,987,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Immunovant by 442.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 9,628 shares of the company’s stock valued at $370,000 after acquiring an additional 7,852 shares during the last quarter. 47.08% of the stock is owned by institutional investors.

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.