Immunovant (NASDAQ:IMVT) Upgraded at Cantor Fitzgerald

Immunovant (NASDAQ:IMVT) was upgraded by analysts at Cantor Fitzgerald to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

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

Immunovant Stock Up 5.0 %

Shares of IMVT stock opened at $19.42 on Tuesday. Immunovant has a 12 month low of $17.65 and a 12 month high of $35.97. The business’s 50 day moving average is $22.06 and its two-hundred day moving average is $26.68. The company has a market cap of $3.30 billion, a PE ratio of -7.41 and a beta of 0.68.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings data on Monday, February 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.08). As a group, equities analysts expect that Immunovant will post -2.69 EPS for the current fiscal year.

Insider Buying and Selling at Immunovant

In other Immunovant news, CEO Peter Salzmann sold 5,105 shares of Immunovant stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $24.10, for a total transaction of $123,030.50. Following the completion of the transaction, the chief executive officer now directly owns 972,992 shares of the company’s stock, valued at approximately $23,449,107.20. This trade represents a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William L. Macias sold 2,383 shares of Immunovant stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $23.83, for a total value of $56,786.89. Following the transaction, the insider now directly owns 359,408 shares of the company’s stock, valued at approximately $8,564,692.64. The trade was a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,510 shares of company stock valued at $656,886. 5.90% of the stock is currently owned by company insiders.

Institutional Trading of Immunovant

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. acquired a new stake in shares of Immunovant in the fourth quarter valued at $76,000. Two Seas Capital LP increased its stake in shares of Immunovant by 123.4% in the fourth quarter. Two Seas Capital LP now owns 1,511,614 shares of the company’s stock valued at $37,443,000 after buying an additional 835,000 shares in the last quarter. Vestal Point Capital LP acquired a new stake in shares of Immunovant in the fourth quarter valued at $1,115,000. Twinbeech Capital LP acquired a new stake in shares of Immunovant in the fourth quarter valued at $314,000. Finally, Two Sigma Advisers LP acquired a new stake in shares of Immunovant in the fourth quarter valued at $270,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

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.