Monday, March 1, 2021

Immunovant Inc. [IMVT] stock Initiated by UBS analyst, price target now $61

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Immunovant Inc. [NASDAQ: IMVT] price plunged by -27.19 percent to reach at -$6.04. The company report on February 16, 2021 that Immunovant Reports Financial Results for the Quarter and Nine Months Ended December 31, 2020.

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Company Ended the Quarter With Cash of Approximately $422 Million.


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Immunovant, Inc. (Nasdaq: IMVT), a clinical-stage biopharmaceutical company focused on enabling normal lives for patients with autoimmune diseases, reported financial results for its fiscal third quarter and nine months ended December 31, 2020. Immunovant ended the quarter with approximately $422 million in cash.

A sum of 6718336 shares traded at recent session while its average daily volume was at 810.45K shares. Immunovant Inc. shares reached a high of $22.40 and dropped to a low of $15.58 until finishing in the latest session at $16.17.

Guru’s Opinion on Immunovant Inc. [IMVT]:

UBS have made an estimate for Immunovant Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 28, 2020. While these analysts kept the previous recommendation, Guggenheim raised their target price to Buy. The new note on the price target was released on October 12, 2020, representing the official price target for Immunovant Inc. stock. Previously, the target price had yet another raise to $46, while Stifel analysts kept a Buy rating on IMVT stock.

The Average True Range (ATR) for Immunovant Inc. is set at 3.34 The Price to Book ratio for the last quarter was 3.11, with the Price to Cash per share for the same quarter was set at 4.29.

IMVT Stock Performance Analysis:

Immunovant Inc. [IMVT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -32.17. With this latest performance, IMVT shares dropped by -63.67% in over the last four-week period, additionally sinking by -40.81% over the last 6 months – not to mention a rise of 4.73% 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 19.62, with the RSI for the last a single of trading hit 15.55, and the three-weeks RSI is set at 23.24 for Immunovant Inc. [IMVT]. The present Moving Average for the last 50 days of trading for this stock 41.72, while it was recorded at 22.04 for the last single week of trading, and 34.92 for the last 200 days.

Insight into Immunovant Inc. Fundamentals:

Immunovant Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 35.10 and a Current Ratio set at 35.10.

Immunovant Inc. [IMVT] Insider Position Details

There are presently around $677 million, or 42.20% of IMVT stock, in the hands of institutional investors. The top three institutional holders of IMVT stocks are: RTW INVESTMENTS, LP with ownership of 7,592,253, which is approximately 1.09% of the company’s market cap and around 57.60% of the total institutional ownership; BLACKROCK INC., holding 4,799,587 shares of the stock with an approximate value of $77.61 million in IMVT stocks shares; and VANGUARD GROUP INC, currently with $62.72 million in IMVT stock with ownership of nearly 21.942% of the company’s market capitalization.

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95 institutional holders increased their position in Immunovant Inc. [NASDAQ:IMVT] by around 8,599,491 shares. Additionally, 51 investors decreased positions by around 6,327,361 shares, while 9 investors held positions by with 26,932,068 shares. The mentioned changes placed institutional holdings at 41,858,920 shares, according to the latest SEC report filing. IMVT stock had 41 new institutional investments in for a total of 2,422,623 shares, while 10 institutional investors sold positions of 1,260,214 shares during the same period.

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