Immunovant (NASDAQ:IMVT) Stock Price Up 5.7%

Immunovant, Inc. (NASDAQ:IMVT) shot up 5.7% on Tuesday . The stock traded as high as $29.23 and last traded at $29.23. 466,351 shares were traded during trading, a decline of 61% from the average session volume of 1,189,679 shares. The stock had previously closed at $27.65.

Analyst Ratings Changes

Several research firms recently weighed in on IMVT. HC Wainwright restated a “buy” rating and set a $51.00 price target on shares of Immunovant in a research report on Thursday, May 30th. Oppenheimer decreased their price target on Immunovant from $50.00 to $46.00 and set an “outperform” rating for the company in a research note on Monday, June 3rd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunovant in a research report on Tuesday, June 18th. Truist Financial restated a “buy” rating and issued a $48.00 price target on shares of Immunovant in a research report on Monday, March 25th. Finally, The Goldman Sachs Group began coverage on Immunovant in a research report on Wednesday, March 13th. They issued a “buy” rating and a $50.00 price target for the company. Sixteen research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $48.75.

Immunovant Stock Down 0.0 %

The business has a 50 day moving average of $27.82 and a 200 day moving average of $32.58. The company has a market capitalization of $4.44 billion, a P/E ratio of -15.97 and a beta of 0.67.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings results on Wednesday, May 29th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.08). During the same quarter in the prior year, the company earned ($0.46) earnings per share. On average, research analysts anticipate that Immunovant, Inc. will post -2.11 EPS for the current year.

Insider Activity

In other news, CEO Peter Salzmann sold 34,079 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $29.06, for a total value of $990,335.74. Following the completion of the sale, the chief executive officer now directly owns 1,052,879 shares of the company’s stock, valued at approximately $30,596,663.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Peter Salzmann sold 34,079 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $29.06, for a total value of $990,335.74. Following the completion of the sale, the chief executive officer now directly owns 1,052,879 shares of the company’s stock, valued at approximately $30,596,663.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Eva Renee Barnett sold 12,253 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $29.06, for a total value of $356,072.18. Following the completion of the sale, the chief financial officer now directly owns 359,456 shares of the company’s stock, valued at $10,445,791.36. The disclosure for this sale can be found here. Insiders sold 101,292 shares of company stock valued at $2,944,809 in the last ninety days. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Immunovant

Several hedge funds and other institutional investors have recently modified their holdings of the business. Headlands Technologies LLC purchased a new stake in shares of Immunovant in the fourth quarter worth approximately $27,000. CoreCap Advisors LLC increased 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 purchasing an additional 647 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Immunovant by 10.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,370 shares of the company’s stock worth $437,000 after purchasing an additional 951 shares during the period. DNB Asset Management AS increased its holdings in Immunovant by 10.3% during the 2nd quarter. DNB Asset Management AS now owns 10,290 shares of the company’s stock worth $271,000 after purchasing an additional 958 shares during the period. Finally, Bamco Inc. NY increased its holdings in Immunovant by 1.7% during the 1st quarter. Bamco Inc. NY now owns 60,000 shares of the company’s stock worth $1,939,000 after purchasing an additional 1,000 shares during the period. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Immunovant Company Profile

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.