Immunovant (NASDAQ:IMVT) Issues Earnings Results, Misses Expectations By $0.15 EPS

Immunovant (NASDAQ:IMVT) issued its quarterly earnings results on Thursday. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.15), Briefing.com reports. During the same period in the prior year, the firm earned ($0.45) EPS.

Immunovant Stock Up 2.2 %

NASDAQ:IMVT traded up $0.67 during trading hours on Friday, reaching $30.60. 406,472 shares of the stock were exchanged, compared to its average volume of 1,078,191. Immunovant has a twelve month low of $24.67 and a twelve month high of $45.58. The business has a 50-day moving average of $29.79 and a two-hundred day moving average of $28.95. The company has a market capitalization of $4.48 billion, a price-to-earnings ratio of -15.75 and a beta of 0.66.

Analyst Upgrades and Downgrades

IMVT has been the subject of a number of research reports. HC Wainwright reissued a “buy” rating and set a $51.00 target price on shares of Immunovant in a research note on Friday. Oppenheimer boosted their price objective on Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Cantor Fitzgerald restated an “overweight” rating on shares of Immunovant in a research report on Monday, September 9th. Raymond James reiterated an “outperform” rating and issued a $36.00 target price on shares of Immunovant in a research report on Thursday, October 10th. Finally, UBS Group reduced 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. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $48.10.

Insider Activity

In related news, CTO Jay S. Stout sold 2,740 shares of the firm’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 $80,912.20. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Immunovant news, CTO Jay S. Stout sold 2,740 shares of the business’s stock in a transaction 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 owns 142,186 shares in the company, valued at $4,198,752.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Peter Salzmann sold 9,095 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $28.79, for a total value of $261,845.05. Following the sale, the chief executive officer now owns 994,789 shares in the company, valued at approximately $28,639,975.31. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,277 shares of company stock valued at $941,919. 5.90% of the stock is currently owned by corporate insiders.

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.