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

Shares of Immunovant, Inc. (NASDAQ:IMVT) have been assigned a consensus rating of “Buy” from the fifteen ratings firms that are presently covering the company, Marketbeat.com reports. Fifteen equities research analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $49.73.

A number of brokerages recently commented on IMVT. HC Wainwright restated a “buy” rating and issued a $51.00 target price on shares of Immunovant in a research note on Thursday, May 30th. Oppenheimer dropped their price objective on shares of Immunovant from $50.00 to $46.00 and set an “outperform” rating for the company in a research note on Monday, June 3rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunovant in a research report on Tuesday, June 18th.

Immunovant Stock Performance

NASDAQ IMVT opened at $29.10 on Monday. Immunovant has a twelve month low of $18.82 and a twelve month high of $45.58. The stock has a market cap of $4.25 billion, a PE ratio of -15.32 and a beta of 0.67. The firm has a 50-day simple moving average of $27.59 and a 200 day simple moving average of $31.60.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings data 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 in the prior year, the company posted ($0.46) earnings per share. Research analysts forecast that Immunovant will post -2.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Immunovant

In other news, CFO Eva Renee Barnett sold 4,042 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $29.65, for a total transaction of $119,845.30. Following the sale, the chief financial officer now owns 355,414 shares in the company, valued at $10,538,025.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Immunovant news, CFO Eva Renee Barnett sold 4,042 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $29.65, for a total value of $119,845.30. Following the completion of the sale, the chief financial officer now owns 355,414 shares in the company, valued at approximately $10,538,025.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Julia G. Butchko sold 3,247 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $29.65, for a total transaction of $96,273.55. Following the completion of the transaction, the insider now directly owns 448,380 shares of the company’s stock, valued at $13,294,467. The disclosure for this sale can be found here. Insiders have sold 54,927 shares of company stock worth $1,599,990 over the last three months. Company insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IMVT. Bank of New York Mellon Corp raised its position in shares of Immunovant by 12.6% during the second quarter. Bank of New York Mellon Corp now owns 250,339 shares of the company’s stock worth $6,609,000 after acquiring an additional 27,960 shares during the last quarter. EFG Asset Management North America Corp. boosted its holdings in Immunovant by 23.4% in the second quarter. EFG Asset Management North America Corp. now owns 58,070 shares of the company’s stock valued at $1,531,000 after acquiring an additional 11,000 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Immunovant by 198.0% in the second quarter. Assenagon Asset Management S.A. now owns 311,525 shares of the company’s stock worth $8,224,000 after purchasing an additional 207,003 shares during the period. SG Americas Securities LLC raised its holdings in Immunovant by 638.7% during the 2nd quarter. SG Americas Securities LLC now owns 30,702 shares of the company’s stock worth $811,000 after purchasing an additional 26,546 shares during the last quarter. Finally, DNB Asset Management AS lifted its position in Immunovant by 10.3% during the 2nd quarter. DNB Asset Management AS now owns 10,290 shares of the company’s stock valued at $271,000 after purchasing an additional 958 shares during the period. 47.08% of the stock is currently owned by institutional investors.

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.