Immunovant (NASDAQ:IMVT) Stock Rating Lowered by Wolfe Research

Immunovant (NASDAQ:IMVT) was downgraded by investment analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a research report issued on Friday, MarketBeat reports.

Other equities research analysts also recently issued research reports about the company. Raymond James restated an “outperform” rating and set a $36.00 target price on shares of Immunovant in a research report on Thursday, October 10th. Cantor Fitzgerald restated an “overweight” rating on shares of Immunovant in a research report on Monday, September 9th. Wells Fargo & Company reduced their target price on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Oppenheimer boosted their price target on shares of Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Finally, HC Wainwright restated a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Immunovant has an average rating of “Moderate Buy” and an average target price of $47.22.

Immunovant Trading Down 1.5 %

Shares of NASDAQ IMVT opened at $24.81 on Friday. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of -11.18 and a beta of 0.64. Immunovant has a one year low of $23.88 and a one year high of $45.58. The business has a fifty day simple moving average of $27.64 and a 200 day simple moving average of $28.68.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.15). During the same period in the previous year, the company earned ($0.45) EPS. On average, research analysts anticipate that Immunovant will post -2.73 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Eva Renee Barnett sold 5,162 shares of Immunovant stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $29.56, for a total value of $152,588.72. Following the transaction, the chief financial officer now owns 338,614 shares in the company, valued at approximately $10,009,429.84. This trade represents a 1.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider William L. Macias sold 3,188 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $28.79, for a total transaction of $91,782.52. Following the completion of the transaction, the insider now directly owns 365,144 shares of the company’s stock, valued at $10,512,495.76. This trade represents a 0.87 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,659 shares of company stock valued at $2,096,890. 5.90% of the stock is owned by company insiders.

Institutional Trading of Immunovant

A number of institutional investors and hedge funds have recently bought and sold shares of IMVT. FMR LLC grew its position in shares of Immunovant by 19.6% in the 3rd quarter. FMR LLC now owns 12,537,571 shares of the company’s stock valued at $357,446,000 after buying an additional 2,053,688 shares during the last quarter. Armistice Capital LLC lifted its stake in shares of Immunovant by 57.0% in the second 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. Baker BROS. Advisors LP boosted its holdings in Immunovant by 163.7% in the third quarter. Baker BROS. Advisors LP now owns 1,225,410 shares of the company’s stock valued at $34,936,000 after acquiring an additional 760,692 shares during the last quarter. Principal Financial Group Inc. increased its position in Immunovant by 69.9% during the 3rd quarter. Principal Financial Group Inc. now owns 951,124 shares of the company’s stock valued at $27,117,000 after purchasing an additional 391,436 shares during the period. Finally, State Street Corp raised its holdings in Immunovant by 11.2% during the 3rd quarter. State Street Corp now owns 3,022,342 shares of the company’s stock worth $86,167,000 after purchasing an additional 303,386 shares during the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.

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.