Immunovant, Inc. (NASDAQ:IMVT) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Immunovant, Inc. (NASDAQ:IMVT) have received a consensus recommendation of “Moderate Buy” from the eleven analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $31.1111.

A number of analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immunovant in a research note on Friday, January 9th. The Goldman Sachs Group upped their price target on Immunovant from $18.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, December 15th. Truist Financial raised their price objective on Immunovant from $16.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, January 8th. HC Wainwright restated a “buy” rating and set a $35.00 price target on shares of Immunovant in a report on Tuesday, February 10th. Finally, Guggenheim raised their price target on Immunovant from $41.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, February 9th.

Immunovant Trading Up 0.9%

Shares of Immunovant stock opened at $26.60 on Tuesday. Immunovant has a 52 week low of $12.72 and a 52 week high of $27.92. The company’s 50-day moving average price is $26.19 and its two-hundred day moving average price is $21.44. The stock has a market cap of $5.41 billion, a PE ratio of -9.89 and a beta of 0.54.

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

Insider Buying and Selling

In other Immunovant news, Director Andrew J. Fromkin sold 22,249 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $23.25, for a total value of $517,289.25. Following the completion of the sale, the director owned 85,852 shares of the company’s stock, valued at $1,996,059. The trade was a 20.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $290,977.83. Following the transaction, the insider directly owned 149,930 shares in the company, valued at approximately $4,034,616.30. This represents a 6.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 51,242 shares of company stock valued at $1,240,244 in the last three months. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Immunovant

A number of institutional investors and hedge funds have recently modified their holdings of IMVT. Two Seas Capital LP lifted its position in Immunovant by 37.1% during the 2nd quarter. Two Seas Capital LP now owns 2,252,772 shares of the company’s stock worth $36,044,000 after acquiring an additional 610,000 shares during the last quarter. Capital Fund Management S.A. acquired a new stake in shares of Immunovant in the second quarter valued at about $888,000. Assenagon Asset Management S.A. bought a new position in shares of Immunovant in the third quarter worth about $3,308,000. SG Americas Securities LLC lifted its position in shares of Immunovant by 679.7% during the 3rd quarter. SG Americas Securities LLC now owns 62,598 shares of the company’s stock worth $1,009,000 after purchasing an additional 54,570 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Immunovant by 9.1% during the 2nd quarter. Geode Capital Management LLC now owns 1,825,602 shares of the company’s stock worth $29,213,000 after purchasing an additional 153,012 shares during the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.

About Immunovant

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.