Immunovant (NASDAQ:IMVT) Given “Buy” Rating at HC Wainwright

Immunovant (NASDAQ:IMVT)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $51.00 target price on the stock. HC Wainwright’s price target points to a potential upside of 67.82% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Raymond James reiterated an “outperform” rating and issued a $36.00 price target on shares of Immunovant in a research note on Thursday, October 10th. JPMorgan Chase & Co. lowered their target price on Immunovant from $51.00 to $46.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Oppenheimer boosted their price target on Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. UBS Group lowered their price objective on Immunovant from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Immunovant in a research report on Monday, September 9th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Immunovant has a consensus rating of “Buy” and a consensus target price of $48.10.

Immunovant Trading Up 1.5 %

IMVT stock opened at $30.39 on Friday. Immunovant has a 1-year low of $24.67 and a 1-year high of $45.58. The business’s 50 day simple moving average is $29.79 and its 200 day simple moving average is $28.95. The firm has a market capitalization of $4.45 billion, a PE ratio of -15.51 and a beta of 0.66.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.07). During the same quarter in the previous year, the business posted ($0.57) EPS. As a group, sell-side analysts predict that Immunovant will post -2.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Jay S. Stout sold 2,740 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $29.53, for a total value of $80,912.20. Following the completion of the transaction, the chief technology officer now directly owns 142,186 shares in the company, valued at approximately $4,198,752.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Immunovant news, insider Mark S. Levine sold 4,361 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $29.53, for a total transaction of $128,780.33. Following the completion of the transaction, the insider now owns 322,878 shares of the company’s stock, valued at approximately $9,534,587.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Jay S. Stout sold 2,740 shares of Immunovant stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $29.53, for a total transaction of $80,912.20. Following the sale, the chief technology officer now directly owns 142,186 shares in the company, valued at $4,198,752.58. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,277 shares of company stock worth $941,919 over the last ninety days. Corporate insiders own 5.90% of the company’s stock.

Institutional Trading of Immunovant

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Armistice Capital LLC grew its position in Immunovant by 57.0% during the 2nd quarter. Armistice Capital LLC now owns 3,396,909 shares of the company’s stock worth $89,678,000 after acquiring an additional 1,232,909 shares during the last quarter. Vanguard Group Inc. boosted its position in Immunovant by 11.2% during the 1st quarter. Vanguard Group Inc. now owns 6,478,304 shares of the company’s stock worth $209,314,000 after buying an additional 650,506 shares during the period. Alpine Global Management LLC grew its holdings in Immunovant by 34.6% during the 1st quarter. Alpine Global Management LLC now owns 1,882,704 shares of the company’s stock worth $60,830,000 after acquiring an additional 484,332 shares during the last quarter. Principal Financial Group Inc. increased its position in Immunovant by 69.9% in the 3rd quarter. Principal Financial Group Inc. now owns 951,124 shares of the company’s stock valued at $27,117,000 after acquiring an additional 391,436 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Immunovant by 16.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,862,043 shares of the company’s stock worth $60,163,000 after purchasing an additional 259,481 shares during the period. Institutional investors own 47.08% of the company’s stock.

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.