As of Wednesday close, Immunovant Inc.’s (NASDAQ:IMVT) stock was up $0.51, moving up 2.34 percent to $22.33. The average number of shares traded per day over the past five days has been 1,486,780 shares. 4 times new highs have been achieved over the past 5 days, with a $2.11 gain in that time frame. In the last twenty days, the average volume was 1,263,480, while in the previous 50 days, it was 1,105,754.
Since last month, IMVT stock retreated -3.21%. Shares of the company fell to $18.82 on 08/17/23, the lowest level in the past month. A 52-week high of $25.13 was reached on 07/19/23 after having rallying from a 52-week low of $4.26. Since the beginning of this year, IMVT’s stock price has risen by 25.80% or $4.58, and marked a new high 10 times. However, the stock has declined by -11.14% since its 52-week high.
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IMVT stock investors should be aware that Immunovant Inc. (IMVT) stock had its last reported insider trading activity 7 days ago on Aug 24. Barnett Eva Renee, the Chief Financial Officer of the company, disposed of 14,386 shares for $20.30 on Aug 24. It resulted in a $292,036 divestment by the insider. Butchko Julia G. sold 12,333 shares at an average price of $20.30 on Aug 24. The insider now owns 416,260 shares following the transaction. On Aug 24, Chief Medical Officer Macias William L. sold 12,333 shares at $20.30 apiece. The transaction was valued at $250,360.
Financial Health
In the three months ended June 29, Immunovant Inc.’s quick ratio stood at 6.80, while its current ratio was 6.80, showing that the company is able to pay off its debt.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. While analysts expected Immunovant Inc. to report -$0.45 quarterly earnings, the actual figure was -$0.57 per share, beating the consensus estimate by -26.70%. During the quarter, the company generated -$78.42 million in EBITDA. The liabilities of Immunovant Inc. were 51.36 million at the end of its most recent quarter ended June 29, and its total debt was $0.92 million. The value of shareholders’ equity is $130.67 million.
Technical Picture
This quick technical analysis looks at Immunovant Inc.’s (IMVT) price momentum. With a historical volatility rate of 33.97%, the RSI 9-day stood at 64.74% on 30 August.
With respect to its five-day moving average, the current Immunovant Inc. price is up by +10.44% percent or $2.11. At present, IMVT shares trade -0.76% below its 20-day simple moving average and +54.32% percent above its 100-day simple moving average. However, the stock is currently trading approximately +12.32% above its SMA50 and +78.07% above its SMA200.
Stochastic coefficient K was 76.69% and Stochastic coefficient D was 58.08%, while ATR was 1.02. Given the Stochastic reading of 92.61% for the 14-day period, the RSI (14) reading has been calculated as 58.71%. As of today, the MACD Oscillator reading stands at 0.94, while the 14-day reading stands at 0.90.
Analyst Ratings
BofA Securities launched its rating on Immunovant Inc. (NASDAQ: IMVT) to a Buy in a note to investors on May 01, 2023. Immunovant Inc. (IMVT) has been rated Buy by analysts. According to 0 brokerage firms, IMVT is a sell, and 1 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Immunovant Inc. stock as buy, with 12 recommending it as overweight.
With a median target price of $31.00, the current consensus forecast for the stock is $28.00 – $34.00. Based on these forecasts, analysts predict Immunovant Inc. (IMVT) will achieve an average price target of $31.08.
