Immunovant Inc [NASDAQ: IMVT] traded at a high on Thursday, posting a 4.81 gain after which it closed the day’ session at $33.09. The company report on March 12, 2024 at 7:30 AM that Immunovant Awarded U.S. Patent for IMVT-1402.
Composition of matter patent issued with coverage until June 2043.
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Patent also includes methods of use and methods of manufacturing claims.
The results of the trading session contributed to over 3507166 shares changing hands. Over the past one week, the price volatility of Immunovant Inc stands at 5.90% while the volatility over the past one month is 5.36%.
The market cap for IMVT stock reached $4.81 billion, with 130.33 million shares outstanding and 61.10 million shares in the current float. Compared to the average trading volume of 1.30M shares, IMVT reached a trading volume of 3507166 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say 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 $50.69 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 1.06. 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.
Goldman have made an estimate for Immunovant Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 13, 2024. While these analysts kept the previous recommendation, JP Morgan raised their target price to Overweight. The new note on the price target was released on February 20, 2024, representing the official price target for Immunovant Inc stock. Previously, the target price had yet another raise to $55, while Wolfe Research analysts kept a Outperform rating on IMVT stock.
The Average True Range (ATR) for Immunovant Inc is set at 1.84 The Price to Book ratio for the last quarter was 7.07, with the Price to Cash per share for the same quarter was set at 4.76.
How has IMVT stock performed recently?
Immunovant Inc [IMVT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.79. With this latest performance, IMVT shares dropped by -9.34% in over the last four-week period, additionally plugging by 60.63% over the last 6 months – not to mention a rise of 104.13% 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 46.22, with the RSI for the last a single of trading hit 53.03, and the three-weeks RSI is set at 44.29 for Immunovant Inc [IMVT]. The present Moving Average for the last 50 days of trading for this stock 36.34, while it was recorded at 31.31 for the last single week of trading, and 30.87 for the last 200 days.
Immunovant Inc [IMVT]: Deeper insight into the fundamentals
Immunovant Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 22.14 and a Current Ratio set at 22.14.
Earnings analysis for Immunovant Inc [IMVT]
With the latest financial reports released by the company, Immunovant Inc posted -0.46/share EPS, while the average EPS was predicted by analysts to be reported at -0.43/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -7.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for IMVT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Immunovant Inc go to 3.69%.
Insider trade positions for Immunovant Inc [IMVT]
The top three institutional holders of IMVT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in IMVT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in IMVT stock with ownership which is approximately 5.8325%.
