Immunovant, Inc. (NASDAQ:IMVT) Receives $48.00 Average PT from Brokerages

Shares of Immunovant, Inc. (NASDAQ:IMVT) have earned an average recommendation of “Buy” from the seventeen analysts that are covering the company, Marketbeat.com reports. Seventeen equities research analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have issued a report on the stock in the last year is $48.00.

IMVT has been the subject of a number of research reports. HC Wainwright lifted their price objective on shares of Immunovant from $47.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, December 21st. The Goldman Sachs Group started coverage on shares of Immunovant in a report on Wednesday, March 13th. They set a “buy” rating and a $50.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunovant in a report on Friday, January 12th. JPMorgan Chase & Co. started coverage on shares of Immunovant in a report on Tuesday, February 20th. They set an “overweight” rating and a $51.00 price target for the company. Finally, Oppenheimer started coverage on shares of Immunovant in a report on Thursday, March 28th. They set an “outperform” rating and a $50.00 price target for the company.

Insiders Place Their Bets

In other Immunovant news, CEO Peter Salzmann sold 4,807 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $31.18, for a total transaction of $149,882.26. Following the sale, the chief executive officer now directly owns 1,086,958 shares of the company’s stock, valued at approximately $33,891,350.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Eva Renee Barnett sold 2,930 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $36.15, for a total transaction of $105,919.50. Following the transaction, the chief financial officer now directly owns 320,420 shares in the company, valued at approximately $11,583,183. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Peter Salzmann sold 4,807 shares of the stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $31.18, for a total transaction of $149,882.26. Following the transaction, the chief executive officer now owns 1,086,958 shares in the company, valued at $33,891,350.44. The disclosure for this sale can be found here. Insiders have sold 18,064 shares of company stock valued at $612,982 in the last ninety days. Insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Comerica Bank purchased a new position in shares of Immunovant during the 3rd quarter worth about $26,000. Headlands Technologies LLC purchased a new position in Immunovant in the fourth quarter valued at approximately $27,000. Ensign Peak Advisors Inc raised its holdings in 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 buying an additional 2,670 shares during the period. UBS Group AG raised its holdings in 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 buying an additional 4,695 shares during the period. Finally, Barclays PLC raised its holdings in Immunovant by 2,558.1% in the second quarter. Barclays PLC now owns 2,286 shares of the company’s stock valued at $43,000 after buying an additional 2,200 shares during the period. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Immunovant Stock Performance

Shares of IMVT stock opened at $30.47 on Friday. The stock has a market capitalization of $4.43 billion, a P/E ratio of -16.56 and a beta of 0.65. The company has a 50 day moving average price of $33.54 and a 200 day moving average price of $36.26. Immunovant has a fifty-two week low of $14.59 and a fifty-two week high of $45.58.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings data on Monday, February 12th. The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.07. On average, research analysts forecast that Immunovant will post -1.7 EPS for the current fiscal year.

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.