Immunovant, Inc. (NASDAQ:IMVT) Receives $48.75 Consensus PT from Brokerages

Shares of Immunovant, Inc. (NASDAQ:IMVT) have received an average rating of “Buy” from the seventeen ratings firms that are presently covering the firm, MarketBeat.com reports. Seventeen investment analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $48.75.

IMVT has been the topic of a number of recent research reports. 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 on the stock. Truist Financial restated a “buy” rating and set a $48.00 price objective on shares of Immunovant in a report on Monday, March 25th. Oppenheimer decreased their target price on shares of Immunovant from $50.00 to $46.00 and set an “outperform” rating for the company in a report on Monday, June 3rd. HC Wainwright restated a “buy” rating and set a $51.00 price target on shares of Immunovant in a report on Thursday, May 30th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a research note on Tuesday, June 18th.

Immunovant Trading Up 4.2 %

NASDAQ:IMVT opened at $27.51 on Thursday. The company has a 50-day moving average of $27.86 and a 200-day moving average of $33.27. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of -14.48 and a beta of 0.67. Immunovant has a twelve month low of $18.16 and a twelve month high of $45.58.

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

Insider Buying and Selling at Immunovant

In other news, insider Michael Geffner sold 3,261 shares of Immunovant stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $28.90, for a total transaction of $94,242.90. Following the completion of the sale, the insider now directly owns 141,616 shares in the company, valued at approximately $4,092,702.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Immunovant news, insider Julia G. Butchko sold 1,053 shares of the stock in a transaction 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 transaction, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Geffner sold 3,261 shares of the business’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $28.90, for a total value of $94,242.90. Following the completion of the sale, the insider now directly owns 141,616 shares of the company’s stock, valued at approximately $4,092,702.40. The disclosure for this sale can be found here. Insiders have sold 99,948 shares of company stock worth $2,936,889 over the last 90 days. 5.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Immunovant

Several institutional investors and hedge funds have recently added to or reduced their stakes in IMVT. Headlands Technologies LLC bought a new position in shares of Immunovant in the fourth quarter valued at approximately $27,000. Assetmark Inc. bought a new position in Immunovant in the 4th quarter worth $61,000. EntryPoint Capital LLC lifted its position in Immunovant by 288.8% during the 1st quarter. EntryPoint Capital LLC now owns 2,912 shares of the company’s stock worth $94,000 after acquiring an additional 2,163 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in Immunovant during the fourth quarter valued at about $212,000. Finally, CoreCap Advisors LLC grew its position in shares of Immunovant by 11.2% in the fourth quarter. CoreCap Advisors LLC now owns 6,407 shares of the company’s stock valued at $270,000 after purchasing an additional 647 shares during the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.

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.