Immunovant Inc. (NASDAQ:IMVT) finished Wednesday with a subtraction of -$0.85 to close at $20.92, a downside of -3.90 percent. An average of 985,860 shares of common stock have been traded in the last five days. There was a fall of -$1.58 in the past week, and it reached a new high 42 times over the past 12 months. The last 20 days have seen an average of 1,047,885 shares traded, while the 50-day average volume stands at 1,042,182.
IMVT stock has increased by 5.34% in the last month. The company shares reached their 1-month lowest point of $18.41 on 07/10/23. With the stock rallying to its 52-week high on 07/19/23, shares of the company touched a low of $4.26 and a high of $25.13 in 52 weeks. It has reached a new high 10 times so far this year and achieved 17.86% or $3.17 in price. In spite of this, the price is down -16.75% from the 52-week high.
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Insider Transactions
IMVT stock investors should be aware that Immunovant Inc. (IMVT) stock had its last reported insider trading activity 3 days ago on Aug 07. In this transaction, the insider spent $2,202,096. Chief Legal Officer, Levine Mark S., disposed of 3,917 shares at a price of $21.63 on Jul 26. The insider now owns more than $84,725 worth of shares. Prior to that, Chief Financial Officer Barnett Eva Renee went on to Sale 2,725 shares at $24.94 each on Jul 19. An amount of $67,962 was transacted.
Valuation Metrics
Immunovant Inc. (IMVT) stock’s beta is 0.96. Other valuation ratios to consider include the price-to-book (PB) ratio at 7.53.
Financial Health
The quick ratio of Immunovant Inc. for the three months ended March 30 was 9.30, and the current ratio was 9.30, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending March 30.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Immunovant Inc.’s return on assets was -48.30%.
Earnings Surprise
In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$59.43 million in the quarter, while revenues of -$63.23 million were grew 20.63%. The analyst consensus anticipated Immunovant Inc.’s latest quarter earnings to come in at -$0.43 per share, but it turned out to be -$0.46, a -7.00% surprise. For the quarter, EBITDA amounted to -$64.26 million. Shareholders own equity worth $130.41 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Immunovant Inc. (IMVT) price momentum. RSI 9-day as of the close on 09 August was 38.98%, suggesting the stock is Neutral, with historical volatility in this time frame at 35.05%.
As of today, IMVT’s price is $21.70 -7.02% or -$1.58 from its 5-day moving average. IMVT is currently trading +7.28% higher than its 20-day SMA and +36.91% higher than its 100-day SMA. However, the stock’s current price level is -0.62% below the SMA50 and +117.46% above the SMA200.
The stochastic %K and %D were 21.99% and 20.63%, respectively, and the average true range (ATR) was 1.01. With the 14-day stochastic at 25.77% and the average true range at 1.00, the RSI (14) stands at 45.39%. The stock has reached -0.74 on the 9-day MACD Oscillator while the 14-day reading was at -0.62.
Analyst Ratings
BofA Securities launched coverage on Immunovant Inc. (NASDAQ: IMVT) in its analyst report released on May 01, 2023. The firm assigned the stock a Buy rating.
What is IMVT’s price target for the next 12 months?
Analysts predict a range of price targets between $28.00 and $35.00, with a median target of $30.00. Taking a look at these predictions, the average price target given by analysts for Immunovant Inc. (IMVT) stock is $30.75.
