Immunovant (NASDAQ:IMVT) Now Covered by Analysts at Jefferies Financial Group

Stock analysts at Jefferies Financial Group assumed coverage on shares of Immunovant (NASDAQ:IMVT) in a note issued to investors on Monday. The firm set a “hold” rating and a $20.00 price target on the stock. Jefferies Financial Group’s price objective points to a potential downside of 2.91% from the stock’s current price.

Several other equities analysts also recently commented on the stock. Guggenheim lowered their target price on shares of Immunovant from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Bank of America dropped their price target on Immunovant from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. HC Wainwright reaffirmed a “buy” rating and set a $51.00 price objective on shares of Immunovant in a report on Friday, February 7th. Wolfe Research lowered shares of Immunovant from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, Wells Fargo & Company dropped their price objective on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Two investment analysts have 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, Immunovant has a consensus rating of “Moderate Buy” and an average price target of $43.55.

Immunovant Stock Performance

Shares of Immunovant stock opened at $20.60 on Monday. Immunovant has a fifty-two week low of $19.07 and a fifty-two week high of $38.31. The company has a market capitalization of $3.50 billion, a P/E ratio of -7.86 and a beta of 0.65. The company has a fifty day moving average of $22.49 and a 200 day moving average of $26.90.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings data on Monday, February 10th. The company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.08). Analysts forecast that Immunovant will post -2.69 EPS for the current year.

Insider Activity at Immunovant

In other Immunovant news, CTO Jay S. Stout sold 2,195 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $23.59, for a total transaction of $51,780.05. Following the sale, the chief technology officer now owns 139,991 shares of the company’s stock, valued at approximately $3,302,387.69. This trade represents a 1.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sciences Ltd. Roivant acquired 16,845,010 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were bought at an average price of $20.00 per share, with a total value of $336,900,200.00. Following the completion of the purchase, the director now directly owns 96,650,341 shares in the company, valued at $1,933,006,820. The trade was a 21.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 27,510 shares of company stock worth $656,886 over the last three months. 5.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Immunovant

A number of large investors have recently added to or reduced their stakes in IMVT. GF Fund Management CO. LTD. purchased a new stake in Immunovant during the fourth quarter valued at approximately $76,000. Two Seas Capital LP lifted its holdings in shares of Immunovant by 123.4% during the 4th quarter. Two Seas Capital LP now owns 1,511,614 shares of the company’s stock valued at $37,443,000 after purchasing an additional 835,000 shares during the last quarter. Vestal Point Capital LP acquired a new stake in shares of Immunovant in the 4th quarter worth $1,115,000. Twinbeech Capital LP acquired a new stake in shares of Immunovant in the 4th quarter worth $314,000. Finally, Two Sigma Advisers LP purchased a new position in Immunovant during the 4th quarter worth $270,000. 47.08% of the stock is currently owned by institutional investors.

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.