Immunovant FY2031 EPS Forecast Decreased by HC Wainwright

Immunovant, Inc. (NASDAQ:IMVT) – Analysts at HC Wainwright lowered their FY2031 EPS estimates for Immunovant in a note issued to investors on Friday, August 7th. HC Wainwright analyst D. Tsao now anticipates that the company will post earnings per share of $3.80 for the year, down from their prior estimate of $4.13. HC Wainwright currently has a “Buy” rating and a $40.00 target price on the stock. The consensus estimate for Immunovant’s current full-year earnings is ($2.90) per share.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.12). The company had revenue of $7.09 million for the quarter, compared to analyst estimates of $7.09 million. During the same period in the previous year, the business posted ($0.71) EPS.

IMVT has been the subject of several other research reports. Citigroup boosted their target price on shares of Immunovant from $57.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. Sanford C. Bernstein raised shares of Immunovant to a “hold” rating in a research report on Wednesday, July 29th. Truist Financial lifted their price target on Immunovant from $23.00 to $30.00 and gave the stock a “hold” rating in a research note on Friday, May 22nd. Bank of America boosted their price objective on Immunovant from $32.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Finally, Guggenheim upped their price objective on Immunovant from $44.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $44.00.

Immunovant Price Performance

NASDAQ IMVT opened at $44.30 on Monday. Immunovant has a 12 month low of $14.47 and a 12 month high of $44.38. The company has a market capitalization of $9.15 billion, a price-to-earnings ratio of -15.71 and a beta of 0.77. The company’s fifty day moving average price is $38.70 and its two-hundred day moving average price is $31.40.

Hedge Funds Weigh In On Immunovant

A number of large investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. acquired a new position in Immunovant during the 4th quarter valued at approximately $25,000. Strs Ohio bought a new stake in Immunovant during the first quarter worth approximately $27,000. PNC Financial Services Group Inc. lifted its position in Immunovant by 138.9% in the third quarter. PNC Financial Services Group Inc. now owns 2,831 shares of the company’s stock worth $46,000 after purchasing an additional 1,646 shares during the period. Quarry LP boosted its stake in Immunovant by 94.9% during the 4th quarter. Quarry LP now owns 3,000 shares of the company’s stock valued at $76,000 after purchasing an additional 1,461 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Immunovant during the 2nd quarter valued at $87,000. Institutional investors own 47.08% of the company’s stock.

Insider Transactions at Immunovant

In other news, insider Tuyl Christopher Van sold 17,824 shares of the firm’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $38.31, for a total value of $682,837.44. Following the transaction, the insider directly owned 180,597 shares in the company, valued at approximately $6,918,671.07. This trade represents a 8.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Melanie Gloria sold 17,714 shares of Immunovant stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $38.31, for a total transaction of $678,623.34. Following the completion of the transaction, the chief operating officer directly owned 224,393 shares of the company’s stock, valued at $8,596,495.83. This trade represents a 7.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 318,810 shares of company stock valued at $11,158,166 over the last quarter. Insiders own 1.90% of the company’s stock.

About Immunovant

Immunovant Inc is a clinical-stage biopharmaceutical company focused on the development of novel monoclonal antibody therapies that target the neonatal Fc receptor (FcRn) to treat severe autoimmune diseases. By inhibiting FcRn, Immunovant’s approach is designed to reduce levels of pathogenic immunoglobulin G (IgG) antibodies, which play a central role in the pathology of disorders such as myasthenia gravis and immune thrombocytopenia.

The company’s lead asset, efgartigimod, is an engineered Fc fragment that selectively binds to FcRn, accelerating the degradation of circulating IgG.