FY2030 EPS Estimates for Immunovant Boosted by HC Wainwright

Immunovant, Inc. (NASDAQ:IMVT) – Research analysts at HC Wainwright upped their FY2030 earnings estimates for shares of Immunovant in a report issued on Tuesday, February 10th. HC Wainwright analyst D. Tsao now anticipates that the company will post earnings per share of $2.91 for the year, up from their prior forecast of $2.84. HC Wainwright currently has a “Buy” rating and a $35.00 target price on the stock. The consensus estimate for Immunovant’s current full-year earnings is ($2.69) per share.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings data on Friday, February 6th. The company reported ($0.61) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.11. During the same period last year, the firm earned ($0.76) earnings per share.

IMVT has been the subject of a number of other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Immunovant in a research report on Friday, January 9th. Wolfe Research upgraded shares of Immunovant from a “peer perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research report on Tuesday, January 6th. The Goldman Sachs Group boosted their price target on shares of Immunovant from $18.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, December 15th. Guggenheim increased their price objective on shares of Immunovant from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Truist Financial boosted their target price on Immunovant from $16.00 to $22.00 and gave the company a “hold” rating in a research report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.11.

Immunovant Stock Down 2.8%

Shares of Immunovant stock opened at $25.94 on Thursday. The firm has a market cap of $5.28 billion, a PE ratio of -9.64 and a beta of 0.54. Immunovant has a 52 week low of $12.72 and a 52 week high of $27.92. The business’s fifty day simple moving average is $25.86 and its 200-day simple moving average is $20.96.

Institutional Trading of Immunovant

A number of institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Immunovant by 8.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,971 shares of the company’s stock worth $708,000 after acquiring an additional 3,348 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Immunovant by 48.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,007,700 shares of the company’s stock worth $17,222,000 after purchasing an additional 329,354 shares during the last quarter. Strs Ohio acquired a new position in Immunovant in the first quarter valued at approximately $27,000. Aberdeen Group plc increased its stake in Immunovant by 3.1% in the second quarter. Aberdeen Group plc now owns 844,705 shares of the company’s stock valued at $13,515,000 after purchasing an additional 25,228 shares during the last quarter. Finally, TD Asset Management Inc raised its holdings in Immunovant by 5.5% during the second quarter. TD Asset Management Inc now owns 192,506 shares of the company’s stock worth $3,080,000 after purchasing an additional 10,108 shares in the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, COO Melanie Gloria sold 12,626 shares of Immunovant stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $23.62, for a total transaction of $298,226.12. Following the completion of the sale, the chief operating officer directly owned 173,511 shares of the company’s stock, valued at approximately $4,098,329.82. The trade was a 6.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew J. Fromkin sold 22,249 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $23.25, for a total transaction of $517,289.25. Following the transaction, the director owned 85,852 shares of the company’s stock, valued at approximately $1,996,059. The trade was a 20.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 63,868 shares of company stock valued at $1,538,470 over the last ninety days. 1.80% of the stock is currently owned by corporate insiders.

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.