Immunovant (NASDAQ:IMVT) Given Buy Rating at Truist Financial

Truist Financial restated their buy rating on shares of Immunovant (NASDAQ:IMVT) in a report issued on Monday, Benzinga reports. The firm currently has a $48.00 price target on the stock.

IMVT has been the subject of several other reports. Cantor Fitzgerald reaffirmed an overweight rating on shares of Immunovant in a report on Friday, January 12th. Bank of America upped their price objective on shares of Immunovant from $49.00 to $51.00 and gave the stock a buy rating in a report on Thursday, December 21st. JPMorgan Chase & Co. initiated coverage on shares of Immunovant in a report on Tuesday, February 20th. They issued an overweight rating and a $51.00 price target for the company. Wolfe Research initiated coverage on shares of Immunovant in a report on Thursday, February 15th. They issued an outperform rating and a $55.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Immunovant in a report on Tuesday, December 12th. They issued a buy rating and a $50.00 price target for the company. Seventeen equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of Buy and a consensus target price of $48.00.

Immunovant Stock Down 0.6 %

Shares of IMVT opened at $32.31 on Monday. The company’s fifty day moving average is $35.39 and its 200-day moving average is $35.67. Immunovant has a 12 month low of $14.05 and a 12 month high of $45.58. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of -17.67 and a beta of 0.67.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings data on Monday, February 12th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.07. As a group, research analysts predict that Immunovant will post -1.7 earnings per share for the current fiscal year.

Insider Activity at Immunovant

In related news, CEO Peter Salzmann sold 3,824 shares of Immunovant stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $38.59, for a total transaction of $147,568.16. Following the completion of the transaction, the chief executive officer now directly owns 944,685 shares of the company’s stock, valued at approximately $36,455,394.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Julia G. Butchko sold 1,297 shares of Immunovant stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $38.59, for a total transaction of $50,051.23. Following the completion of the transaction, the insider now directly owns 409,963 shares of the company’s stock, valued at approximately $15,820,472.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Peter Salzmann sold 3,824 shares of Immunovant stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $38.59, for a total transaction of $147,568.16. Following the transaction, the chief executive officer now directly owns 944,685 shares of the company’s stock, valued at $36,455,394.15. The disclosure for this sale can be found here. Insiders sold 17,151 shares of company stock valued at $659,896 in the last ninety days. Insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Immunovant

A number of institutional investors have recently modified their holdings of the stock. FMR LLC raised its stake in shares of Immunovant by 47.5% in the third quarter. FMR LLC now owns 7,748,546 shares of the company’s stock worth $297,467,000 after acquiring an additional 2,494,678 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Immunovant by 14.0% in the third quarter. Vanguard Group Inc. now owns 6,233,146 shares of the company’s stock worth $239,290,000 after acquiring an additional 764,530 shares during the last quarter. BlackRock Inc. raised its stake in shares of Immunovant by 6.7% in the second quarter. BlackRock Inc. now owns 4,201,314 shares of the company’s stock worth $79,699,000 after acquiring an additional 264,133 shares during the last quarter. State Street Corp raised its stake in shares of Immunovant by 27.5% in the first quarter. State Street Corp now owns 3,967,605 shares of the company’s stock worth $61,538,000 after acquiring an additional 854,662 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Immunovant in the fourth quarter worth about $112,356,000. 47.08% of the stock is 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.