Immunovant Inc (NASDAQ:IMVT) finished Thursday with an addition of $0.28 to close at $39.79, an upside of 0.70 percent. An average of 11,394,840 shares of common stock have been traded in the last five days. There was a gain of $18.54 in the past week, and it reached a new high 37 times over the past 12 months. The last 20 days have seen an average of 3,678,795 shares traded, while the 50-day average volume stands at 2,115,630.
IMVT stock has increased by 82.36% in the last month. The company shares reached their 1-month lowest point of $19.50 on 09/25/23. With the stock rallying to its 52-week high on 09/27/23, shares of the company touched a low of $4.61 and a high of $44.19 in 52 weeks. It has reached a new high 12 times so far this year and achieved 124.17% or $22.04 in price. In spite of this, the price is down -9.96% from the 52-week high.
Insider Transactions
IMVT stock investors should be aware that Immunovant Inc (IMVT) stock had its last reported insider trading activity 30 days ago on Aug 30. In this transaction, the insider spent $1,250,338. Chief Financial Officer, Barnett Eva Renee, disposed of 14,386 shares at a price of $20.30 on Aug 24. The insider now owns more than $292,036 worth of shares. Prior to that, Chief Development Officer Butchko Julia G. went on to Sale 12,333 shares at $20.30 each on Aug 24. An amount of $250,360 was transacted.
Valuation Metrics
Immunovant Inc (IMVT) stock’s beta is 0.64. Other valuation ratios to consider include the price-to-book (PB) ratio at 17.33.
Financial Health
The quick ratio of Immunovant Inc for the recent quarter was 6.82, and the current ratio was 6.82, 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 recent quarter.
Earnings Surprise
In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$73.94 million in the quarter, while revenues of -$59.43 million were grew 45.4%. Shareholders own equity worth $130.67 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 28 September was 87.32%, suggesting the stock is Overbought, with historical volatility in this time frame at 340.59%.
As of today, IMVT’s price is $31.99 +87.25% or $18.54 from its 5-day moving average. IMVT is currently trading +78.19% higher than its 20-day SMA and +107.24% higher than its 100-day SMA. However, the stock’s current price level is +71.80% above the SMA50 and +174.79% above the SMA200.
The stochastic %K and %D were 85.11% and 62.94%, respectively, and the average true range (ATR) was 3.48. With the 14-day stochastic at 82.18% and the average true range at 2.73, the RSI (14) stands at 83.57%. The stock has reached 12.51 on the 9-day MACD Oscillator while the 14-day reading was at 14.38.
Analyst Ratings
Raymond James upgraded Immunovant Inc (NASDAQ: IMVT) to a an Outperform rating in its most recent analyst report. Previously, the stock was rated as a Mkt perform. The consensus rating for Immunovant Inc (IMVT) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell IMVT, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 12 others rate it as a “buy”.
What is IMVT’s price target for the next 12 months?
Analysts predict a range of price targets between $18.00 and $54.00, with a median target of $43.50. Taking a look at these predictions, the average price target given by analysts for Immunovant Inc (IMVT) stock is $39.29.
