Equities Analysts Set Expectations for Immunovant, Inc.’s FY2024 Earnings (NASDAQ:IMVT)

Immunovant, Inc. (NASDAQ:IMVT – Get Rating) – Research analysts at Chardan Capital issued their FY2024 EPS estimates for Immunovant in a report released on Monday, May 22nd. Chardan Capital analyst M. Barcus expects that the company will earn ($1.53) per share for the year. The consensus estimate for Immunovant’s current full-year earnings is ($1.83) per share.

Other research analysts also recently issued research reports about the stock. HC Wainwright raised their price target on shares of Immunovant from $26.00 to $27.00 in a research note on Tuesday. Piper Sandler assumed coverage on shares of Immunovant in a research note on Friday, March 31st. They issued an “overweight” rating and a $28.00 price target on the stock. SVB Leerink raised their price target on shares of Immunovant from $14.00 to $21.00 and gave the stock an “outperform” rating in a research note on Monday, February 6th. Bank of America increased their target price on shares of Immunovant from $26.00 to $28.00 in a report on Tuesday. Finally, Citigroup started coverage on shares of Immunovant in a report on Tuesday, April 25th. They set a “buy” rating and a $28.00 target price on the stock. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.77.

Immunovant Trading Down 0.6 %

Shares of IMVT opened at $21.07 on Thursday. The company has a market cap of $2.75 billion, a P/E ratio of -12.32 and a beta of 0.97. Immunovant has a twelve month low of $3.14 and a twelve month high of $24.18. The company’s fifty day simple moving average is $17.05 and its 200-day simple moving average is $16.56.

Immunovant (NASDAQ:IMVT – Get Rating) last announced its earnings results on Monday, May 22nd. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.05).

Institutional Trading of Immunovant

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC purchased a new stake in shares of Immunovant during the 3rd quarter worth about $33,000. Ensign Peak Advisors Inc increased its holdings in shares of Immunovant by 72.6% in the 3rd quarter. Ensign Peak Advisors Inc now owns 6,350 shares of the company’s stock valued at $35,000 after acquiring an additional 2,670 shares during the last quarter. UBS Group AG increased its holdings in shares of Immunovant by 205.7% in the 3rd quarter. UBS Group AG now owns 6,978 shares of the company’s stock valued at $39,000 after acquiring an additional 4,695 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Immunovant by 20.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,800 shares of the company’s stock valued at $59,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Immunovant by 17.6% in the 2nd quarter. Principal Financial Group Inc. now owns 15,327 shares of the company’s stock valued at $60,000 after acquiring an additional 2,293 shares during the last quarter. Hedge funds and other institutional investors own 32.77% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Eva Renee Barnett sold 3,423 shares of the business’s stock in a transaction dated Tuesday, April 18th. The shares were sold at an average price of $15.27, for a total transaction of $52,269.21. Following the transaction, the chief financial officer now owns 352,588 shares of the company’s stock, valued at approximately $5,384,018.76. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Immunovant news, CEO Peter Salzmann sold 3,395 shares of the firm’s stock in a transaction on Tuesday, April 18th. The stock was sold at an average price of $15.27, for a total value of $51,841.65. Following the completion of the sale, the chief executive officer now owns 1,234,369 shares of the company’s stock, valued at $18,848,814.63. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Eva Renee Barnett sold 3,423 shares of Immunovant stock in a transaction on Tuesday, April 18th. The stock was sold at an average price of $15.27, for a total value of $52,269.21. Following the transaction, the chief financial officer now directly owns 352,588 shares of the company’s stock, valued at approximately $5,384,018.76. The disclosure for this sale can be found here. Insiders have sold a total of 8,871 shares of company stock valued at $135,979 in the last 90 days. 3.00% of the stock is owned by insiders.

About Immunovant

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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.