Piper Sandler Initiates Coverage of Immunovant (IMVT) with Overweight Recommendation

On March 31, 2023,
Piper Sandler
initiated coverage of Immunovant with
a Overweight recommendation.

Analyst Price Forecast Suggests 56.52% Upside

As of March 30, 2023,
the average one-year price target for Immunovant is $24.28.
The forecasts range from a low of $4.04 to a high of $32.55.
The average price target represents an increase of 56.52% from its latest reported closing price of $15.51.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Immunovant
is $0MM.

The projected annual non-GAAP EPS
is -$1.72.

What are Large Shareholders Doing?

Deep Track Capital
holds 9,710K shares

representing 7.51% ownership of the company.

In it’s prior filing, the firm reported owning 9,860K shares, representing
a decrease
of 1.55%.

The firm

increased

its portfolio allocation in IMVT by 187.18% over the last quarter.

ETAHX – Eventide Healthcare & Life Sciences Fund Shares
holds 3,694K shares

representing 2.86% ownership of the company.

In it’s prior filing, the firm reported owning 5,373K shares, representing
a decrease
of 45.45%.

The firm

increased

its portfolio allocation in IMVT by 101.83% over the last quarter.

Eventide Asset Management
holds 3,694K shares

representing 2.86% ownership of the company.

In it’s prior filing, the firm reported owning 5,373K shares, representing
a decrease
of 45.45%.

The firm

decreased

its portfolio allocation in IMVT by 99.78% over the last quarter.

Logos Global Management
holds 3,150K shares

representing 2.44% ownership of the company.

In it’s prior filing, the firm reported owning 0K shares, representing
an increase
of 100.00%.

Bvf
holds 2,561K shares

representing 1.98% ownership of the company.

In it’s prior filing, the firm reported owning 0K shares, representing
an increase
of 100.00%.

What is the Fund Sentiment?

There are 293 funds or institutions reporting positions in Immunovant.

This is an increase
of
45
owner(s) or 18.15% in the last quarter.

Average portfolio weight of all funds dedicated to IMVT is 0.19%,
an increase
of 153.77%.

Total shares owned by institutions increased
in the last three months by 26.73% to 61,942K shares.

The put/call ratio of IMVT is 0.23, indicating a

bullish
outlook.

Immunovant Background Information
(This description is provided by the company.)

Immunovant is a clinical-stage biopharmaceutical company focused on enabling normal lives for patients with autoimmune diseases. Immunovant is developing IMVT-1401, a novel, fully human anti-FcRn monoclonal antibody, as a subcutaneous injection for the treatment of autoimmune diseases mediated by pathogenic IgG antibodies.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.