Immunovant, Inc. (NASDAQ:IMVT) Forecasted to Post FY2024 Earnings of ($1.53) Per Share

Immunovant, Inc. (NASDAQ:IMVT – Get Rating) – Chardan Capital issued their FY2024 earnings per share estimates for shares of Immunovant in a research note issued to investors on Monday, May 22nd. Chardan Capital analyst M. Barcus expects that the company will earn ($1.53) per share for the year. The consensus estimate for Immunovant’s current full-year earnings is ($1.83) per share.

Immunovant (NASDAQ:IMVT – Get Rating) last released its quarterly earnings results on Monday, May 22nd. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.05).

Other equities research analysts have also issued research reports about the company. Cantor Fitzgerald initiated coverage on Immunovant in a research note on Wednesday, February 15th. They issued an “overweight” rating and a $30.00 target price on the stock. Piper Sandler started coverage on Immunovant in a research note on Friday, March 31st. They set an “overweight” rating and a $28.00 target price for the company. HC Wainwright raised their target price on shares of Immunovant from $26.00 to $27.00 in a report on Tuesday. Citigroup initiated coverage on shares of Immunovant in a research note on Tuesday, April 25th. They set a “buy” rating and a $28.00 price objective on the stock. Finally, SVB Leerink lifted their price target on shares of Immunovant from $14.00 to $21.00 and gave the stock an “outperform” rating in a research report on Monday, February 6th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.77.

Immunovant Stock Performance

Shares of IMVT stock opened at $21.07 on Thursday. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of -12.32 and a beta of 0.97. Immunovant has a 1 year low of $3.14 and a 1 year high of $24.18. The stock’s 50-day moving average is $17.05 and its two-hundred day moving average is $16.56.

Insider Transactions at Immunovant

In related news, CEO Peter Salzmann sold 3,395 shares of the firm’s stock in a transaction dated Tuesday, April 18th. The shares were sold at an average price of $15.27, for a total transaction of $51,841.65. Following the transaction, the chief executive officer now directly owns 1,234,369 shares of the company’s stock, valued at $18,848,814.63. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Eva Renee Barnett sold 3,423 shares of Immunovant stock in a transaction that occurred on Tuesday, April 18th. The shares were sold at an average price of $15.27, for a total transaction of $52,269.21. Following the sale, the chief financial officer now directly owns 352,588 shares in the company, valued at approximately $5,384,018.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Peter Salzmann sold 3,395 shares of the business’s stock in a transaction that occurred on Tuesday, April 18th. The stock was sold at an average price of $15.27, for a total transaction of $51,841.65. Following the completion of the transaction, the chief executive officer now owns 1,234,369 shares in the company, valued at approximately $18,848,814.63. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,871 shares of company stock worth $135,979. 3.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC acquired a new position in shares of Immunovant during the 3rd quarter valued at $33,000. Ensign Peak Advisors Inc raised its holdings in shares of Immunovant by 72.6% in the third quarter. Ensign Peak Advisors Inc now owns 6,350 shares of the company’s stock valued at $35,000 after purchasing an additional 2,670 shares during the last quarter. UBS Group AG raised its holdings in shares of Immunovant by 205.7% in the third quarter. UBS Group AG now owns 6,978 shares of the company’s stock valued at $39,000 after purchasing an additional 4,695 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Immunovant by 20.8% in the third quarter. Nisa Investment Advisors LLC now owns 5,800 shares of the company’s stock valued at $59,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Immunovant by 17.6% during the second quarter. Principal Financial Group Inc. now owns 15,327 shares of the company’s stock valued at $60,000 after buying an additional 2,293 shares during the period. Institutional investors and hedge funds own 32.77% of the company’s stock.

Immunovant Company Profile

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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 selectively binds to and inhibits the neonatal fragment crystallizable receptor, which is in Phase IIa clinical trials for the treatment of myasthenia gravis and thyroid eye disease, as well as completed initiation of Phase II clinical trials for the treatment of warm autoimmune hemolytic anemia.