Immunovant (NASDAQ:IMVT) Earns “Outperform” Rating from Raymond James

by · The Cerbat Gem

Raymond James reaffirmed their outperform rating on shares of Immunovant (NASDAQ:IMVT – Free Report) in a research note published on Thursday, Marketbeat.com reports. The firm currently has a $36.00 price target on the stock.

IMVT has been the subject of several other reports. UBS Group lowered their price target on Immunovant from $42.00 to $41.00 and set a buy rating for the company in a research report on Tuesday, August 13th. HC Wainwright restated a buy rating and set a $51.00 price target on shares of Immunovant in a research report on Monday, September 30th. Oppenheimer increased their price objective on Immunovant from $47.00 to $53.00 and gave the company an outperform rating in a research note on Wednesday. JPMorgan Chase & Co. reduced their price objective on Immunovant from $51.00 to $46.00 and set an overweight rating on the stock in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald reiterated an overweight rating on shares of Immunovant in a research note on Monday, September 9th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of Buy and an average price target of $48.58.

Read Our Latest Research Report on Immunovant

Immunovant Stock Performance

Shares of Immunovant stock opened at $30.40 on Thursday. Immunovant has a fifty-two week low of $24.67 and a fifty-two week high of $45.58. The stock has a 50 day moving average of $29.95 and a 200 day moving average of $29.06. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of -15.75 and a beta of 0.66.

Immunovant (NASDAQ:IMVT – Get Free Report) last released its quarterly earnings results 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 period last year, the firm posted ($0.57) earnings per share. Analysts forecast that Immunovant will post -2.43 EPS for the current year.

Insider Buying and Selling at Immunovant

In other Immunovant news, CEO Peter Salzmann sold 8,685 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $29.69, for a total value of $257,857.65. Following the sale, the chief executive officer now directly owns 1,023,412 shares in the company, valued at $30,385,102.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Immunovant news, insider Mark S. Levine sold 2,505 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $29.69, for a total value of $74,373.45. Following the sale, the insider now directly owns 337,409 shares in the company, valued at $10,017,673.21. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Peter Salzmann sold 8,685 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $29.69, for a total value of $257,857.65. Following the completion of the sale, the chief executive officer now directly owns 1,023,412 shares of the company’s stock, valued at $30,385,102.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,204 shares of company stock worth $883,407 over the last ninety days. Corporate insiders own 5.90% of the company’s stock.

Institutional Trading of Immunovant

Several institutional investors and hedge funds have recently made changes to their positions in IMVT. Octagon Capital Advisors LP lifted its holdings in shares of Immunovant by 127.3% in the 4th quarter. Octagon Capital Advisors LP now owns 273,289 shares of the company’s stock valued at $11,514,000 after purchasing an additional 1,273,289 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Immunovant by 75.0% in the 4th quarter. Wellington Management Group LLP now owns 295,020 shares of the company’s stock valued at $12,429,000 after purchasing an additional 126,412 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of Immunovant by 185.4% in the 1st quarter. Los Angeles Capital Management LLC now owns 14,371 shares of the company’s stock valued at $464,000 after purchasing an additional 9,335 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Immunovant by 51.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 65,091 shares of the company’s stock valued at $2,103,000 after acquiring an additional 22,226 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its position in Immunovant by 66.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 27,936 shares of the company’s stock valued at $903,000 after acquiring an additional 11,202 shares during the period. 47.08% of the stock is owned by hedge funds and other institutional investors.

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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