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

Shares of Immunovant, Inc. (NASDAQ:IMVT) have received a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $43.55.

A number of equities analysts have recently issued reports on IMVT shares. Jefferies Financial Group started coverage on shares of Immunovant in a research note on Monday. They set a “hold” rating and a $20.00 price objective on the stock. Cantor Fitzgerald upgraded shares of Immunovant to a “strong-buy” rating in a research note on Thursday, January 30th. Guggenheim dropped their price objective on shares of Immunovant from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Wolfe Research downgraded shares of Immunovant from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Finally, HC Wainwright reiterated a “buy” rating and set a $51.00 price objective on shares of Immunovant in a research note on Friday, February 7th.

Immunovant Stock Performance

Shares of NASDAQ:IMVT opened at $18.44 on Tuesday. The firm has a market cap of $3.13 billion, a PE ratio of -7.04 and a beta of 0.65. The firm’s 50 day simple moving average is $22.34 and its 200-day simple moving average is $26.81. Immunovant has a one year low of $18.13 and a one year high of $35.97.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings data on Monday, February 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.08). Equities research analysts predict that Immunovant will post -2.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Jay S. Stout sold 2,195 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $23.59, for a total transaction of $51,780.05. Following the sale, the chief technology officer now directly owns 139,991 shares of the company’s stock, valued at $3,302,387.69. The trade was a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Peter Salzmann sold 5,105 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $24.10, for a total transaction of $123,030.50. Following the sale, the chief executive officer now directly owns 972,992 shares in the company, valued at $23,449,107.20. This trade represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,510 shares of company stock valued at $656,886. 5.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Immunovant

A number of large investors have recently made changes to their positions in the stock. FMR LLC lifted its position in Immunovant by 19.6% during the third quarter. FMR LLC now owns 12,537,571 shares of the company’s stock valued at $357,446,000 after purchasing an additional 2,053,688 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in Immunovant by 53.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,117,234 shares of the company’s stock valued at $126,754,000 after purchasing an additional 1,786,217 shares during the period. Deep Track Capital LP lifted its position in Immunovant by 38.0% during the fourth quarter. Deep Track Capital LP now owns 6,000,000 shares of the company’s stock valued at $148,620,000 after purchasing an additional 1,652,536 shares during the period. JPMorgan Chase & Co. lifted its position in Immunovant by 405.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,153,338 shares of the company’s stock valued at $28,568,000 after purchasing an additional 925,081 shares during the period. Finally, Two Seas Capital LP lifted its position in Immunovant by 123.4% during the fourth quarter. Two Seas Capital LP now owns 1,511,614 shares of the company’s stock valued at $37,443,000 after purchasing an additional 835,000 shares during the period. 47.08% of the stock is owned by hedge funds and other 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.