Fintel reports that on July 18, 2023, Stifel maintained coverage of Immunovant (NASDAQ:IMVT) with a Buy recommendation.
Analyst Price Forecast Suggests 15.46% Upside
As of July 6, 2023, the average one-year price target for Immunovant is 28.80. The forecasts range from a low of 18.18 to a high of $33.60. The average price target represents an increase of 15.46% from its latest reported closing price of 24.94.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Immunovant is 0MM. The projected annual non-GAAP EPS is -1.72.
What is the Fund Sentiment?
There are 314 funds or institutions reporting positions in Immunovant. This is an increase of 22 owner(s) or 7.53% in the last quarter. Average portfolio weight of all funds dedicated to IMVT is 0.17%, a decrease of 15.57%. Total shares owned by institutions increased in the last three months by 0.49% to 62,421K shares. 
The put/call ratio of IMVT is 0.90, indicating a bullish outlook.
What are Other Shareholders Doing?
Deep Track Capital holds 7,433K shares representing 5.75% ownership of the company. In it's prior filing, the firm reported owning 9,710K shares, representing a decrease of 30.64%. The firm decreased its portfolio allocation in IMVT by 34.57% over the last quarter.
XBI - SPDR(R) S&P(R) Biotech ETF holds 3,042K shares representing 2.35% ownership of the company. In it's prior filing, the firm reported owning 2,228K shares, representing an increase of 26.76%. The firm increased its portfolio allocation in IMVT by 49.04% over the last quarter.
Bvf holds 2,561K shares representing 1.98% ownership of the company. No change in the last quarter.
Logos Global Management holds 2,500K shares representing 1.93% ownership of the company. In it's prior filing, the firm reported owning 3,150K shares, representing a decrease of 26.00%. The firm decreased its portfolio allocation in IMVT by 15.28% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,593K shares representing 1.23% ownership of the company. In it's prior filing, the firm reported owning 1,595K shares, representing a decrease of 0.10%. The firm decreased its portfolio allocation in IMVT by 19.40% over the last quarter.
Immunovant Background Information
(This description is provided by the company.)
Immunovant is a clinical-stage biopharmaceutical company focused on enabling normal lives for patients with autoimmune diseases. Immunovant is developing IMVT-1401, a novel, fully human anti-FcRn monoclonal antibody, as a subcutaneous injection for the treatment of autoimmune diseases mediated by pathogenic IgG antibodies.
Additional reading:
- Immunovant Provides Corporate Updates and Reports Financial Results for the Fourth Quarter and Fiscal Year Ended March 31, 2023
- IMVT-1402 Update May 22, 2023 Exhibit 99.2 Forward-looking Statements 2 This presentation contains forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 and other federal
- Employment Agreement with Jay Stout, dated as of April 11, 2023.
- Targeted Science, Tailored Solutions Corporate Presentation March 2023 Exhibit 99.1 Forward-looking Statements 2 This presentation contains forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigat
- Immunovant Reports Financial Results and Recent Business Updates for the Quarter Ended December 31, 2022
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
