Immunovant (NASDAQ:IMVT) Price Target Raised to $28.00

by · The Cerbat Gem

Immunovant (NASDAQ:IMVT – Free Report) had its target price lifted by The Goldman Sachs Group from $18.00 to $28.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities research analysts also recently issued research reports about the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immunovant in a research report on Tuesday, October 14th. Truist Financial initiated coverage on shares of Immunovant in a report on Tuesday, October 14th. They issued a “hold” rating and a $16.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Immunovant from $37.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, September 30th. Finally, HC Wainwright restated a “buy” rating and issued a $35.00 target price on shares of Immunovant in a research note on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.89.

Check Out Our Latest Research Report on IMVT

Immunovant Stock Up 1.4%

Shares of IMVT stock opened at $26.98 on Monday. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of -9.50 and a beta of 0.56. Immunovant has a 52-week low of $12.72 and a 52-week high of $28.00. The company’s 50 day moving average is $22.31 and its 200 day moving average is $18.29.

Immunovant (NASDAQ:IMVT – Get Free Report) last announced its earnings results on Monday, November 10th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.01). During the same quarter last year, the company earned ($0.74) earnings per share. Analysts anticipate that Immunovant will post -2.69 EPS for the current fiscal year.

Insider Activity at Immunovant

In other news, Director Douglas J. Hughes sold 15,000 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $23.24, for a total transaction of $348,600.00. Following the sale, the director directly owned 120,773 shares of the company’s stock, valued at $2,806,764.52. The trade was a 11.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Jay S. Stout sold 2,520 shares of the company’s stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $19.03, for a total value of $47,955.60. Following the completion of the transaction, the chief technology officer directly owned 200,814 shares in the company, valued at approximately $3,821,490.42. The trade was a 1.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 57,847 shares of company stock worth $1,308,023 in the last 90 days. 1.80% of the stock is owned by insiders.

Institutional Trading of Immunovant

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

About Immunovant

(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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