Immunovant (NASDAQ:IMVT - Get Free Report) had its target price raised by Oppenheimer from $47.00 to $53.00 in a report released on Wednesday, MarketBeat.com reports. The brokerage presently has an "outperform" rating on the stock. Oppenheimer's target price would indicate a potential upside of 76.55% from the stock's current price.
Other research analysts also recently issued research reports about the company. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Immunovant in a research note on Monday, September 9th. JPMorgan Chase & Co. cut their price target on Immunovant from $51.00 to $46.00 and set an "overweight" rating for the company in a research note on Thursday, August 8th. HC Wainwright reissued a "buy" rating and issued a $51.00 target price on shares of Immunovant in a research note on Monday, September 30th. Finally, UBS Group cut their target price on shares of Immunovant from $42.00 to $41.00 and set a "buy" rating for the company in a research note on Tuesday, August 13th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $49.73.
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Immunovant Price Performance
Shares of NASDAQ IMVT traded up $0.41 during trading on Wednesday, hitting $30.02. 513,897 shares of the company were exchanged, compared to its average volume of 1,120,743. The company has a market cap of $4.39 billion, a price-to-earnings ratio of -15.58 and a beta of 0.66. Immunovant has a 1 year low of $24.67 and a 1 year high of $45.58. The firm's fifty day moving average price is $29.86 and its 200 day moving average price is $29.07.
Immunovant (NASDAQ:IMVT - Get Free Report) last issued its 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 in the prior year, the firm posted ($0.57) EPS. On average, research analysts forecast that Immunovant will post -2.43 earnings per share for the current year.
Insider Activity
In other news, insider Mark S. Levine sold 2,505 shares of the company's stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $29.69, for a total transaction of $74,373.45. Following the completion of the transaction, the insider now owns 337,409 shares of the company's stock, valued at $10,017,673.21. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Mark S. Levine sold 2,505 shares of the company's stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $29.69, for a total transaction of $74,373.45. Following the completion of the transaction, the insider now owns 337,409 shares of the company's stock, valued at $10,017,673.21. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael Geffner sold 3,456 shares of the company's stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $27.76, for a total transaction of $95,938.56. Following the transaction, the insider now directly owns 138,160 shares of the company's stock, valued at approximately $3,835,321.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,582 shares of company stock valued at $598,980 in the last 90 days. 5.90% of the stock is currently owned by insiders.
Institutional Trading of Immunovant
Institutional investors have recently modified their holdings of the company. Octagon Capital Advisors LP boosted its holdings in Immunovant by 127.3% in the 4th quarter. Octagon Capital Advisors LP now owns 273,289 shares of the company's stock worth $11,514,000 after acquiring an additional 1,273,289 shares during the period. Armistice Capital LLC boosted its holdings in Immunovant by 57.0% in 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 period. Vanguard Group Inc. boosted its holdings in Immunovant by 11.2% in the 1st quarter. Vanguard Group Inc. now owns 6,478,304 shares of the company's stock worth $209,314,000 after acquiring an additional 650,506 shares during the period. Alpine Global Management LLC boosted its holdings in Immunovant by 34.6% in 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 period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Immunovant by 16.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,862,043 shares of the company's stock worth $60,163,000 after acquiring an additional 259,481 shares during the period. Hedge funds and other institutional investors own 47.08% of the company's stock.
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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