Immunovant (NASDAQ:IMVT – Free Report) had its price objective lifted by Wells Fargo & Company from $33.00 to $48.00 in a report released on Wednesday, MarketBeat.com reports. They currently have an overweight rating on the stock.
Several other research firms have also issued reports on IMVT. Guggenheim reaffirmed a buy rating and set a $32.00 price target on shares of Immunovant in a research report on Friday, September 22nd. HC Wainwright reaffirmed a buy rating and set a $29.00 price target on shares of Immunovant in a research report on Friday, August 11th. Cantor Fitzgerald reaffirmed an overweight rating and set a $30.00 price target on shares of Immunovant in a research report on Monday, September 18th. Citigroup upped their price target on shares of Immunovant from $28.00 to $33.00 and gave the stock a buy rating in a research report on Friday, August 11th. Finally, Truist Financial reaffirmed a buy rating and set a $30.00 price target on shares of Immunovant in a research report on Tuesday. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Immunovant has a consensus rating of Buy and an average target price of $34.83.
Check Out Our Latest Report on IMVT
Immunovant Stock Down 3.5 %
Immunovant (NASDAQ:IMVT – Get Free Report) last announced its quarterly earnings data on Thursday, August 10th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.03). On average, equities analysts predict that Immunovant will post -1.91 earnings per share for the current fiscal year.
Insider Activity at Immunovant
In related news, CEO Peter Salzmann sold 56,774 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $22.02, for a total value of $1,250,163.48. Following the transaction, the chief executive officer now directly owns 969,965 shares in the company, valued at $21,358,629.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Immunovant news, CEO Peter Salzmann sold 56,774 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $22.02, for a total transaction of $1,250,163.48. Following the sale, the chief executive officer now directly owns 969,965 shares in the company, valued at $21,358,629.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Julia G. Butchko sold 1,470 shares of the stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $19.73, for a total transaction of $29,003.10. Following the sale, the insider now owns 428,593 shares in the company, valued at $8,456,139.89. The disclosure for this sale can be found here. Over the last three months, insiders have sold 299,614 shares of company stock worth $6,457,305. Corporate insiders own 4.80% of the company’s stock.
Institutional Investors Weigh In On Immunovant
A number of large investors have recently bought and sold shares of IMVT. FMR LLC grew its stake in Immunovant by 66.7% during the first quarter. FMR LLC now owns 4,146,969 shares of the company’s stock worth $64,319,000 after buying an additional 1,658,836 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Immunovant by 281.2% in the first quarter. Federated Hermes Inc. now owns 1,903,894 shares of the company’s stock worth $10,491,000 after acquiring an additional 1,404,404 shares during the last quarter. Perceptive Advisors LLC lifted its holdings in shares of Immunovant by 95.4% in the second quarter. Perceptive Advisors LLC now owns 2,523,783 shares of the company’s stock worth $47,876,000 after acquiring an additional 1,231,925 shares during the last quarter. State Street Corp lifted its holdings in shares of Immunovant by 27.5% in the first quarter. State Street Corp now owns 3,967,605 shares of the company’s stock worth $61,538,000 after acquiring an additional 854,662 shares during the last quarter. Finally, Victory Capital Management Inc. bought a new position in shares of Immunovant in the first quarter worth about $10,326,000. 42.45% 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 selectively binds to and inhibits the neonatal fragment crystallizable receptor, which is in Phase IIa clinical trials for the treatment of myasthenia gravis and thyroid eye disease, as well as completed initiation of Phase II clinical trials for the treatment of warm autoimmune hemolytic anemia.
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