A History of Outperforming Analyst Forecasts and Beating the Odds: Immunovant Inc (IMVT)

Immunovant Inc (NASDAQ: IMVT) stock fell -0.06% on Monday to $33.80 against a previous-day closing price of $33.82. With 0.72 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.18 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $35.09 whereas the lowest price it dropped to was $33.67. The 52-week range on IMVT shows that it touched its highest point at $44.19 and its lowest point at $12.40 during that stretch. It currently has a 1-year price target of $47.92. Beta for the stock currently stands at 0.68.

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 up-trending over the past week, with a rise of 3.05%, but this was down by -3.59% over a month. Three-month performance surged to 64.32% while six-month performance rose 42.32%. The stock gained 160.60% in the past year, while it has gained 90.42% so far this year. A look at the trailing 12-month EPS for IMVT yields -1.96 with Next year EPS estimates of -1.84. For the next quarter, that number is -0.42. This implies an EPS growth rate of -5.68% for this year and -1.61% for next year.

Float and Shares Shorts:

At present, 130.33 million IMVT shares are outstanding with a float of 51.62 million shares on hand for trading. On Oct 30, 2023, short shares totaled 6.69 million, which was 4.65% higher than short shares on Sep 28, 2023. In addition to Dr. Frank M. Torti M.B.A., M.D. as the firm’s Executive Chairperson of the Board, Dr. Peter Salzmann M.B.A., M.D. serves as its CEO & Director.

Institutional Ownership:

Through their ownership of 45.41% of IMVT’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 59.47% of IMVT, in contrast to 30.86% held by mutual funds. Shares owned by individuals account for 20.03%. As the largest shareholder in IMVT with 5.93% of the stake, Fidelity Management & Research Co holds 7,748,546 shares worth 7,748,546. A second-largest stockholder of IMVT, The Vanguard Group, Inc., holds 6,079,260 shares, controlling over 4.65% of the firm’s shares. Perceptive Advisors LLC is the third largest shareholder in IMVT, holding 3,814,691 shares or 2.92% stake. With a 1.98% stake in IMVT, the SPDR S&P Biotech ETF is the largest stakeholder. A total of 2,580,155 shares are owned by the mutual fund manager. The Fidelity Growth Company Fund, which owns about 1.69% of IMVT stock, is the second-largest Mutual Fund holder. It holds 2,205,849 shares valued at 72.9 million. Vanguard Total Stock Market ETF holds 1.53% of the stake in IMVT, owning 2,001,182 shares worth 66.14 million.

Analysts Ratings:

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 $57.00 and a low target of $32.00, the average target price over the next 12 months is $47.92. Based on these targets, IMVT could surge 68.64% to reach the target high and fall by -5.33% to reach the target low. Reaching the average price target will result in a growth of 41.78% from current levels.

Summary of Insider Activity:

Insiders traded IMVT stock several times over the past three months with 2 Buys and 11 Sells. In these transactions, 6,000,000 shares were bought while 112,219 shares were sold. The number of buy transactions has increased to 13 while that of sell transactions has risen to 33 over the past year. The total number of shares bought during that period was 6,879,020 while 464,173 shares were sold.