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

Shares of Immunovant, Inc. (NASDAQ:IMVT) have received a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $32.50.

IMVT has been the topic of a number of research analyst reports. Guggenheim increased their target price on Immunovant from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, February 9th. The Goldman Sachs Group boosted their price target on Immunovant from $18.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, December 15th. HC Wainwright reissued a “buy” rating and set a $35.00 price target on shares of Immunovant in a research report on Tuesday, February 10th. Wolfe Research raised shares of Immunovant from a “peer perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a report on Tuesday, January 6th. Finally, Truist Financial boosted their target price on shares of Immunovant from $16.00 to $22.00 and gave the company a “hold” rating in a research note on Thursday, January 8th.

Insider Transactions at Immunovant

In related news, insider Tuyl Christopher Van sold 10,813 shares of the stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $26.91, for a total transaction of $290,977.83. Following the sale, the insider owned 149,930 shares in the company, valued at $4,034,616.30. This represents a 6.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Jay S. Stout sold 1,977 shares of the firm’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $26.03, for a total transaction of $51,461.31. Following the completion of the transaction, the chief technology officer directly owned 197,634 shares in the company, valued at $5,144,413.02. This represents a 0.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 13,993 shares of company stock worth $374,355. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Immunovant

Institutional investors have recently made changes to their positions in the stock. Two Seas Capital LP lifted its holdings in shares of Immunovant by 37.1% in the 2nd quarter. Two Seas Capital LP now owns 2,252,772 shares of the company’s stock worth $36,044,000 after purchasing an additional 610,000 shares during the last quarter. Capital Fund Management S.A. bought a new position in Immunovant during the 2nd quarter worth $888,000. Assenagon Asset Management S.A. bought a new position in Immunovant during the 3rd quarter worth $3,308,000. SG Americas Securities LLC increased its position in Immunovant by 679.7% in the third quarter. SG Americas Securities LLC now owns 62,598 shares of the company’s stock worth $1,009,000 after buying an additional 54,570 shares during the period. Finally, Aberdeen Group plc increased its position in Immunovant by 16.2% in the third quarter. Aberdeen Group plc now owns 981,804 shares of the company’s stock worth $15,827,000 after buying an additional 137,099 shares during the period. 47.08% of the stock is owned by institutional investors.

Immunovant Stock Performance

Shares of Immunovant stock opened at $24.41 on Friday. Immunovant has a 1 year low of $12.72 and a 1 year high of $29.25. The firm’s 50-day simple moving average is $26.29 and its 200-day simple moving average is $22.58. The firm has a market cap of $4.97 billion, a PE ratio of -9.07 and a beta of 0.62.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings results on Friday, February 6th. The company reported ($0.61) EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.11. During the same period last year, the company earned ($0.76) earnings per share. On average, equities analysts predict that Immunovant will post -2.69 earnings per share for the current year.

Immunovant Company Profile

Immunovant Inc is a clinical-stage biopharmaceutical company focused on the development of novel monoclonal antibody therapies that target the neonatal Fc receptor (FcRn) to treat severe autoimmune diseases. By inhibiting FcRn, Immunovant’s approach is designed to reduce levels of pathogenic immunoglobulin G (IgG) antibodies, which play a central role in the pathology of disorders such as myasthenia gravis and immune thrombocytopenia.

The company’s lead asset, efgartigimod, is an engineered Fc fragment that selectively binds to FcRn, accelerating the degradation of circulating IgG.