Immunovant (NASDAQ:IMVT) Releases Earnings Results, Misses Estimates By $0.15 EPS

Immunovant (NASDAQ:IMVTGet Free Report) posted its quarterly earnings data on Thursday. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.15), Briefing.com reports. During the same period in the prior year, the business posted ($0.45) EPS.

Immunovant Price Performance

Shares of NASDAQ:IMVT traded up $0.72 during midday trading on Friday, reaching $30.65. 683,138 shares of the company were exchanged, compared to its average volume of 713,532. The business’s fifty day moving average is $29.77 and its two-hundred day moving average is $28.96. Immunovant has a one year low of $24.67 and a one year high of $45.58.

Wall Street Analysts Forecast Growth

IMVT has been the topic of several recent research reports. Oppenheimer raised their target price on shares of Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. UBS Group dropped their target price on shares of Immunovant from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunovant in a research report on Monday, September 9th. JPMorgan Chase & Co. reduced their target price on shares of Immunovant from $51.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a report on Friday. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Immunovant has a consensus rating of “Buy” and a consensus target price of $48.10.

Check Out Our Latest Research Report on IMVT

Insider Buying and Selling

In related news, CEO Peter Salzmann sold 9,095 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $28.79, for a total transaction of $261,845.05. Following the sale, the chief executive officer now owns 994,789 shares of the company’s stock, valued at $28,639,975.31. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Eva Renee Barnett sold 5,162 shares of Immunovant stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $29.56, for a total value of $152,588.72. Following the completion of the sale, the chief financial officer now directly owns 338,614 shares in the company, valued at $10,009,429.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Peter Salzmann sold 9,095 shares of Immunovant stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $28.79, for a total transaction of $261,845.05. Following the completion of the sale, the chief executive officer now owns 994,789 shares of the company’s stock, valued at $28,639,975.31. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,277 shares of company stock worth $941,919. 5.90% of the stock is owned by insiders.

Immunovant Company Profile

(Get Free Report)

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.

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Earnings History for Immunovant (NASDAQ:IMVT)

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