Immunovant (NASDAQ:IMVT) Receives New Coverage from Analysts at Oppenheimer

Oppenheimer initiated coverage on shares of Immunovant (NASDAQ:IMVT) in a report issued on Thursday morning, MarketBeat.com reports. The brokerage issued an outperform rating and a $50.00 price objective on the stock.

A number of other research analysts also recently issued reports on IMVT. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Immunovant in a research report on Tuesday, December 12th. They set a buy rating and a $50.00 target price for the company. Wolfe Research initiated coverage on shares of Immunovant in a research report on Thursday, February 15th. They issued an outperform rating and a $55.00 price objective for the company. The Goldman Sachs Group initiated coverage on shares of Immunovant in a research report on Wednesday, March 13th. They issued a buy rating and a $50.00 price objective for the company. Truist Financial reiterated a buy rating and issued a $48.00 price objective on shares of Immunovant in a research report on Monday. Finally, 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 research report on Thursday, December 21st. Seventeen analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of $48.00.

Immunovant Trading Down 0.6 %

NASDAQ IMVT opened at $32.31 on Thursday. Immunovant has a 12-month low of $14.05 and a 12-month high of $45.58. The firm’s fifty day simple moving average is $35.39 and its two-hundred day simple moving average is $35.67. The firm has a market capitalization of $4.69 billion, a P/E 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) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.07. As a group, sell-side analysts predict that Immunovant will post -1.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Immunovant

In other Immunovant news, CFO Eva Renee Barnett sold 3,515 shares of the business’s stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $41.83, for a total value of $147,032.45. Following the transaction, the chief financial officer now directly owns 323,350 shares in the company, valued at approximately $13,525,730.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Eva Renee Barnett sold 3,515 shares of the company’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $41.83, for a total value of $147,032.45. Following the transaction, the chief financial officer now directly owns 323,350 shares in the company, valued at approximately $13,525,730.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Peter Salzmann sold 3,824 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The stock was 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 owns 944,685 shares in the company, valued at $36,455,394.15. The disclosure for this sale can be found here. Insiders have sold 17,151 shares of company stock worth $659,896 in the last ninety days. 4.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Immunovant

Large investors have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System lifted its holdings in Immunovant by 3.0% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 15,774 shares of the company’s stock worth $606,000 after buying an additional 460 shares in the last quarter. Rhumbline Advisers lifted its holdings in Immunovant by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 72,198 shares of the company’s stock worth $1,370,000 after buying an additional 550 shares in the last quarter. Alps Advisors Inc. lifted its holdings in Immunovant by 0.6% during the 3rd quarter. Alps Advisors Inc. now owns 96,434 shares of the company’s stock worth $3,702,000 after buying an additional 578 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Immunovant during the 4th quarter worth approximately $27,000. Finally, CoreCap Advisors LLC lifted its holdings in Immunovant by 11.2% during the 4th quarter. CoreCap Advisors LLC now owns 6,407 shares of the company’s stock worth $270,000 after buying an additional 647 shares in 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.