Brokerages Set Immunovant, Inc. (NASDAQ:IMVT) Target Price at $28.78

by · The Cerbat Gem

Immunovant, Inc. (NASDAQ:IMVT – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $28.7778.

IMVT has been the topic of a number of research analyst reports. Bank of America decreased their price objective on shares of Immunovant from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, August 12th. Truist Financial initiated coverage on Immunovant in a report on Tuesday, October 14th. They set a “hold” rating and a $16.00 price objective on the stock. JPMorgan Chase & Co. lowered their target price on Immunovant from $37.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, September 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immunovant in a report on Tuesday, October 14th. Finally, Citigroup reissued a “buy” rating on shares of Immunovant in a report on Monday, August 11th.

View Our Latest Stock Report on IMVT

Immunovant Trading Down 0.3%

Shares of Immunovant stock opened at $22.84 on Thursday. Immunovant has a 1-year low of $12.72 and a 1-year high of $29.49. The firm’s 50-day moving average price is $20.93 and its two-hundred day moving average price is $17.70. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of -8.04 and a beta of 0.56.

Immunovant (NASDAQ:IMVT – Get Free Report) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.01). During the same period last year, the company posted ($0.74) earnings per share. As a group, equities research analysts predict that Immunovant will post -2.69 EPS for the current year.

Insider Transactions at Immunovant

In other Immunovant news, insider Michael Geffner sold 2,595 shares of the stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $19.03, for a total value of $49,382.85. Following the transaction, the insider owned 217,958 shares of the company’s stock, valued at approximately $4,147,740.74. This represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Andrew J. Fromkin sold 22,249 shares of Immunovant stock in a transaction that occurred 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 directly owned 85,852 shares in the company, valued at $1,996,059. The trade was a 20.58% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 57,847 shares of company stock valued at $1,308,023. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Immunovant

Several institutional investors and hedge funds have recently made changes to their positions in the company. Strs Ohio bought a new position in Immunovant during the first quarter worth about $27,000. Aster Capital Management DIFC Ltd acquired a new stake in Immunovant during the 3rd quarter worth approximately $33,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Immunovant in the first quarter valued at approximately $37,000. Farther Finance Advisors LLC boosted its holdings in shares of Immunovant by 142,750.0% in the second quarter. Farther Finance Advisors LLC now owns 2,857 shares of the company’s stock valued at $46,000 after buying an additional 2,855 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Immunovant by 138.9% during the third quarter. PNC Financial Services Group Inc. now owns 2,831 shares of the company’s stock worth $46,000 after acquiring an additional 1,646 shares during the period. Institutional investors and hedge funds own 47.08% of the company’s stock.

Immunovant Company Profile

(Get Free Report)

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.

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