Immunovant Inc. [NASDAQ: IMVT] gained 3.52% on the last trading session, reaching $34.66 price per share at the time. The company report on August 25, 2020 that Ligand OmniAb® Partner Immunovant Announced Positive Topline Results from Multicenter, Placebo-Controlled Phase 2a Trial of IMVT-1401 in Myasthenia Gravis.
IMVT-1401 is a novel anti-FcRn OmniAb-derived antibody delivered by subcutaneous injection.
Registration-enabling Phase 3 trial expected to initiate in the first half of 2021.
Immunovant Inc. represents 70.82 million in outstanding shares, while the company has a total market value of $2.80 billion with the latest information. IMVT stock price has been found in the range of $34.02 to $37.00.
If compared to the average trading volume of 450.46K shares, IMVT reached a trading volume of 1398782 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Immunovant Inc. [IMVT]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IMVT shares is $34.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IMVT stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Raymond James have made an estimate for Immunovant Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on August 25, 2020. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on July 29, 2020, representing the official price target for Immunovant Inc. stock. Previously, the target price had yet another raise to $24, while SVB Leerink analysts kept a Outperform rating on IMVT stock.
The Average True Range (ATR) for Immunovant Inc. is set at 1.93 The Price to Book ratio for the last quarter was 9.17, with the Price to Cash per share for the same quarter was set at 3.47.
Trading performance analysis for IMVT stock
Immunovant Inc. [IMVT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 25.99. With this latest performance, IMVT shares gained by 40.67% in over the last four-week period, additionally plugging by 133.72% over the last 6 months – not to mention a rise of 261.04% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IMVT stock in for the last two-week period is set at 78.64, with the RSI for the last a single of trading hit 87.60, and the three-weeks RSI is set at 74.89 for Immunovant Inc. [IMVT]. The present Moving Average for the last 50 days of trading for this stock 26.32, while it was recorded at 32.79 for the last single week of trading, and 18.67 for the last 200 days.
Immunovant Inc. [IMVT]: A deeper dive into fundamental analysis
Immunovant Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 14.60 and a Current Ratio set at 14.60.
An analysis of insider ownership at Immunovant Inc. [IMVT]
There are presently around $962 million, or 34.40% of IMVT stock, in the hands of institutional investors. The top three institutional holders of IMVT stocks are: RTW INVESTMENTS, LP with ownership of 5,717,182, which is approximately 29.17% of the company’s market cap and around 57.90% of the total institutional ownership; ADAGE CAPITAL PARTNERS GP, L.L.C., holding 2,366,062 shares of the stock with an approximate value of $82.01 million in IMVT stocks shares; and BLACKROCK INC., currently with $79.81 million in IMVT stock with ownership of nearly 155.003% of the company’s market capitalization.
74 institutional holders increased their position in Immunovant Inc. [NASDAQ:IMVT] by around 16,610,772 shares. Additionally, 11 investors decreased positions by around 1,475,345 shares, while 0 investors held positions by with 9,677,986 shares. The mentioned changes placed institutional holdings at 27,764,103 shares, according to the latest SEC report filing. IMVT stock had 45 new institutional investments in for a total of 9,017,860 shares, while 0 institutional investors sold positions of 0 shares during the same period.