Immunovant (NASDAQ:IMVT) Releases Earnings Results

Immunovant (NASDAQ:IMVT) posted its quarterly earnings results on Monday. The company reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.08), Zacks reports.

Immunovant Stock Performance

Shares of IMVT stock opened at $19.34 on Wednesday. Immunovant has a fifty-two week low of $19.09 and a fifty-two week high of $39.55. The company has a 50 day moving average price of $24.57 and a 200 day moving average price of $27.73.

Analyst Ratings Changes

IMVT has been the topic of several recent analyst reports. Cantor Fitzgerald upgraded shares of Immunovant to a “strong-buy” rating in a report on Thursday, January 30th. Wolfe Research cut Immunovant from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Guggenheim lowered their price objective on Immunovant from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Monday. Wells Fargo & Company reduced their target price on Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, Bank of America lowered their price target on Immunovant from $48.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $46.73.

Insiders Place Their Bets

In other Immunovant news, insider Michael Geffner sold 2,657 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $23.59, for a total value of $62,678.63. Following the sale, the insider now owns 132,314 shares of the company’s stock, valued at $3,121,287.26. This trade represents a 1.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Jay S. Stout sold 2,195 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $23.59, for a total value of $51,780.05. Following the transaction, the chief technology officer now directly owns 139,991 shares of the company’s stock, valued at approximately $3,302,387.69. This represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,892 shares of company stock worth $1,811,857 in the last ninety days. 5.90% of the stock is owned by corporate insiders.

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.