Immunovant Inc. (NASDAQ: IMVT) stock fell -0.91% on Friday to $21.81 against a previous-day closing price of $22.01. With 1.36 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.13 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $22.14 whereas the lowest price it dropped to was $21.51. The 52-week range on IMVT shows that it touched its highest point at $25.13 and its lowest point at $4.26 during that stretch. It currently has a 1-year price target of $29.92. Beta for the stock currently stands at 0.96.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of IMVT was down-trending over the past week, with a drop of -6.48%, but this was up by 5.67% over a month. Three-month performance surged to 3.22% while six-month performance rose 42.74%. The stock gained 332.74% in the past year, while it has gained 22.87% so far this year. A look at the trailing 12-month EPS for IMVT yields -1.93 with Next year EPS estimates of -1.98. For the next quarter, that number is -0.48. This implies an EPS growth rate of -20.00% for this year and 1.00% for next year.
Float and Shares Shorts:
At present, 130.50 million IMVT shares are outstanding with a float of 53.11 million shares on hand for trading. On Aug 30, 2023, short shares totaled 4.9 million, which was 3.75% higher than short shares on Jul 30, 2023. In addition to IMVT as the firm’s Immunovant, Inc., IVT serves as its InvenTrust Properties Corp.
Through their ownership of 45.41% of IMVT’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 59.49% of IMVT, in contrast to 26.45% held by mutual funds. Shares owned by individuals account for 15.47%. As the largest shareholder in IMVT with 4.15% of the stake, Deep Track Capital LP holds 5,421,330 shares worth 5,421,330. A second-largest stockholder of IMVT, The Vanguard Group, Inc., holds 5,321,805 shares, controlling over 4.07% of the firm’s shares. Fidelity Management & Research Co is the third largest shareholder in IMVT, holding 5,253,868 shares or 4.02% stake. With a 1.66% stake in IMVT, the SPDR S&P Biotech ETF is the largest stakeholder. A total of 2,172,460 shares are owned by the mutual fund manager. The Fidelity Growth Company Fund, which owns about 1.38% of IMVT stock, is the second-largest Mutual Fund holder. It holds 1,808,425 shares valued at 41.07 million. Vanguard Total Stock Market ETF holds 1.25% of the stake in IMVT, owning 1,627,709 shares worth 36.97 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, IMVT reported revenue of $0.00 and operating income of -$40.38M. The EBITDA in the recently reported quarter was -$40.33M and diluted EPS was -$0.35.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for IMVT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With IMVT analysts setting a high price target of $34.00 and a low target of $28.00, the average target price over the next 12 months is $31.08. Based on these targets, IMVT could surge 55.89% to reach the target high and rise by 28.38% to reach the target low. Reaching the average price target will result in a growth of 42.5% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded IMVT stock several times over the past three months with 0 Buys and 8 Sells. In these transactions, 0 shares were bought while 216,168 shares were sold. The number of buy transactions has increased to 13 while that of sell transactions has risen to 28 over the past year. The total number of shares bought during that period was 1,310,687 while 370,656 shares were sold.