Immunovant (NASDAQ:IMVT) Releases Earnings Results

Immunovant (NASDAQ:IMVT) issued its quarterly earnings data on Monday. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.08), Zacks reports.

Immunovant Trading Down 0.9 %

IMVT stock opened at $19.34 on Wednesday. Immunovant has a 12-month low of $19.09 and a 12-month high of $39.55. The business’s 50-day moving average is $24.57 and its 200 day moving average is $27.73.

Insider Buying and Selling at Immunovant

In related news, insider Michael Geffner sold 2,657 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $23.59, for a total transaction of $62,678.63. Following the completion of the sale, the insider now owns 132,314 shares of the company’s stock, valued at approximately $3,121,287.26. This represents a 1.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sciences Ltd. Roivant acquired 16,845,010 shares of the business’s stock in a transaction on Monday, January 13th. The stock was acquired at an average price of $20.00 per share, with a total value of $336,900,200.00. Following the acquisition, the director now owns 96,650,341 shares in the company, valued at $1,933,006,820. The trade was a 21.11 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 72,892 shares of company stock valued at $1,811,857 over the last quarter. 5.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

IMVT has been the subject of a number of analyst reports. Wolfe Research downgraded Immunovant from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. HC Wainwright reiterated a “buy” rating and issued a $51.00 target price on shares of Immunovant in a research note on Friday, February 7th. Wells Fargo & Company dropped their price target on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Bank of America decreased their price objective on shares of Immunovant from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Finally, Cantor Fitzgerald upgraded Immunovant to a “strong-buy” rating in a research report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $46.73.

About Immunovant

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.