Immunovant (NASDAQ:IMVT – Get Rating) announced its earnings results on Monday. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.05), Briefing.com reports.
Immunovant Stock Performance
Shares of IMVT stock traded down $0.85 during trading hours on Wednesday, reaching $21.39. The company had a trading volume of 214,226 shares, compared to its average volume of 1,005,195. The company has a market capitalization of $2.79 billion, a P/E ratio of -13.01 and a beta of 0.97. Immunovant has a twelve month low of $3.14 and a twelve month high of $24.18. The stock’s fifty day simple moving average is $16.82 and its 200 day simple moving average is $16.50.
Insider Buying and Selling
In related news, CEO Peter Salzmann sold 3,395 shares of the firm’s stock in a transaction on Tuesday, April 18th. The shares were sold at an average price of $15.27, for a total transaction of $51,841.65. Following the completion of the sale, the chief executive officer now directly owns 1,234,369 shares of the company’s stock, valued at approximately $18,848,814.63. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Immunovant news, CEO Peter Salzmann sold 3,395 shares of the firm’s stock in a transaction that occurred on Tuesday, April 18th. The stock was sold at an average price of $15.27, for a total transaction of $51,841.65. Following the completion of the sale, the chief executive officer now owns 1,234,369 shares in the company, valued at approximately $18,848,814.63. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Eva Renee Barnett sold 3,423 shares of the company’s stock in a transaction that occurred on Tuesday, April 18th. The shares were sold at an average price of $15.27, for a total value of $52,269.21. Following the completion of the transaction, the chief financial officer now directly owns 352,588 shares in the company, valued at $5,384,018.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,871 shares of company stock valued at $135,979. Corporate insiders own 3.00% of the company’s stock.
Institutional Inflows and Outflows
Analyst Ratings Changes
A number of equities research analysts have recently commented on the company. Bank of America lifted their price objective on Immunovant from $26.00 to $28.00 in a research report on Tuesday. Piper Sandler initiated coverage on shares of Immunovant in a research note on Friday, March 31st. They set an “overweight” rating and a $28.00 price objective for the company. Cantor Fitzgerald began coverage on shares of Immunovant in a research report on Wednesday, February 15th. They issued an “overweight” rating and a $30.00 target price on the stock. Guggenheim upped their price target on shares of Immunovant from $30.00 to $32.00 in a research report on Tuesday. Finally, SVB Leerink lifted their price target on shares of Immunovant from $14.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, February 6th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $24.77.
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.
- Get a free copy of the StockNews.com research report on Immunovant (IMVT)
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