Fintel reports that on September 27, 2023, Raymond James upgraded their outlook for Immunovant (NASDAQ:IMVT) from Market Perform to Outperform.
Analyst Price Forecast Suggests 23.64% Downside
As of August 31, 2023, the average one-year price target for Immunovant is 30.52. The forecasts range from a low of 18.18 to a high of $35.70. The average price target represents a decrease of 23.64% from its latest reported closing price of 39.96.
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 is the Fund Sentiment?
There are 327 funds or institutions reporting positions in Immunovant. This is an increase of 14 owner(s) or 4.47% in the last quarter. Average portfolio weight of all funds dedicated to IMVT is 0.16%, a decrease of 2.07%. Total shares owned by institutions decreased in the last three months by 5.42% to 58,832K shares. The put/call ratio of IMVT is 1.43, indicating a bearish outlook.
What are Other Shareholders Doing?
Deep Track Capital holds 5,421K shares representing 4.15% ownership of the company. In it’s prior filing, the firm reported owning 7,433K shares, representing a decrease of 37.10%. The firm increased its portfolio allocation in IMVT by 0.55% over the last quarter.
Perceptive Advisors holds 2,524K shares representing 1.93% ownership of the company. In it’s prior filing, the firm reported owning 1,292K shares, representing an increase of 48.81%. The firm increased its portfolio allocation in IMVT by 134.25% over the last quarter.
Logos Global Management holds 2,250K shares representing 1.72% ownership of the company. In it’s prior filing, the firm reported owning 2,500K shares, representing a decrease of 11.11%. The firm increased its portfolio allocation in IMVT by 4.61% over the last quarter.
XBI – SPDR(R) S&P(R) Biotech ETF holds 2,172K shares representing 1.66% ownership of the company. In it’s prior filing, the firm reported owning 3,042K shares, representing a decrease of 40.06%. The firm decreased its portfolio allocation in IMVT by 13.08% over the last quarter.
Avidity Partners Management holds 2,085K shares representing 1.60% ownership of the company. In it’s prior filing, the firm reported owning 1,043K shares, representing an increase of 49.98%. The firm increased its portfolio allocation in IMVT by 157.27% over the last quarter.
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 article originally appeared on Fintel
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