Immunovant Sees Unusually Large Options Volume (NASDAQ:IMVT)
Immunovant, Inc. (NASDAQ:IMVT) saw some unusual options trading on Wednesday. Stock traders purchased 7,932 call options on the company. This represents an increase of approximately 910% compared to the average daily volume of 785 call options.
A number of brokerages have recently weighed in on IMVT. Zacks Investment Research upgraded Immunovant from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Tuesday, December 22nd. Credit Suisse Group cut Immunovant from an “outperform” rating to a “neutral” rating in a research note on Tuesday, February 2nd. HC Wainwright reduced their price target on shares of Immunovant from $54.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, February 3rd. Raymond James dropped their price objective on shares of Immunovant from $58.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 3rd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $28.00 target price on shares of Immunovant in a research note on Tuesday, February 16th. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $46.13.
NASDAQ IMVT opened at $15.41 on Thursday. Immunovant has a fifty-two week low of $11.80 and a fifty-two week high of $53.75. The stock’s 50-day moving average is $16.22 and its two-hundred day moving average is $36.17. The firm has a market cap of $1.51 billion and a P/E ratio of -11.95.
A number of hedge funds have recently made changes to their positions in the business. Pacer Advisors Inc. raised its position in shares of Immunovant by 90.6% in the first quarter. Pacer Advisors Inc. now owns 4,594 shares of the company’s stock valued at $74,000 after purchasing an additional 2,184 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in Immunovant during the 4th quarter worth $1,378,000. Norges Bank acquired a new position in Immunovant during the 4th quarter worth $664,000. UBS Asset Management Americas Inc. boosted its holdings in Immunovant by 123.2% during the fourth quarter. UBS Asset Management Americas Inc. now owns 44,641 shares of the company’s stock valued at $2,062,000 after acquiring an additional 24,641 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Immunovant in the fourth quarter valued at about $295,000. Institutional investors own 40.21% of the company’s stock.
Immunovant, Inc, a clinical-stage biopharmaceutical company, develops monoclonal antibodies for the treatment of autoimmune diseases. It develops IMVT-1401, a novel fully human monoclonal antibody that selectively binds to and inhibits the neonatal fragment crystallizable receptor, which is in Phase IIa clinical trials for the treatment of myasthenia gravis and thyroid eye disease, as well as has completed initiation of Phase II clinical trials for the treatment of warm autoimmune hemolytic anemia.
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