Immunovant Inc (NASDAQ: IMVT)’s stock price has plunge by 1.30relation to previous closing price of 30.78. Nevertheless, the company has seen a -0.80% plunge in its stock price over the last five trading sessions. InvestorPlace reported 2024-03-25 that Some of the market’s favorite biotech stocks have created immense wealth, as in the recent weight-loss drug stock boom. On May 26, Viking Therapeutics (NASDAQ: VKTX ) was trading around $20.25.
Is It Worth Investing in Immunovant Inc (NASDAQ: IMVT) Right Now?
The 36-month beta value for IMVT is at 0.71. Analysts have varying views on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for IMVT is 61.10M, and currently, shorts hold a 15.31% of that float. The average trading volume for IMVT on April 04, 2024 was 1.27M shares.
IMVT’s Market Performance
IMVT stock saw a decrease of -0.80% in the past week, with a monthly decline of -10.25% and a quarterly a decrease of -24.67%. The volatility ratio for the week is 4.60%, and the volatility levels for the last 30 days are 5.16% for Immunovant Inc (IMVT). The simple moving average for the last 20 days is -1.91% for IMVT stock, with a simple moving average of -0.17% for the last 200 days.
Analysts’ Opinion of IMVT
Many brokerage firms have already submitted their reports for IMVT stocks, with Oppenheimer repeating the rating for IMVT by listing it as a “Outperform.” The predicted price for IMVT in the upcoming period, according to Oppenheimer is $50 based on the research report published on March 28, 2024 of the current year 2024.
Goldman, on the other hand, stated in their research note that they expect to see IMVT reach a price target of $50. The rating they have provided for IMVT stocks is “Buy” according to the report published on March 13th, 2024.
JP Morgan gave a rating of “Overweight” to IMVT, setting the target price at $51 in the report published on February 20th of the current year.
IMVT Trading at -10.73% from the 50-Day Moving Average
After a stumble in the market that brought IMVT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -31.59% of loss for the given period.
Volatility was left at 5.16%, however, over the last 30 days, the volatility rate increased by 4.60%, as shares sank -8.21% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -22.13% lower at present.
During the last 5 trading sessions, IMVT fell by -0.80%, which changed the moving average for the period of 200-days by +47.56% in comparison to the 20-day moving average, which settled at $31.65. In addition, Immunovant Inc saw -25.99% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at IMVT starting from Salzmann Peter, who sale 13,454 shares at the price of $36.15 back on Feb 22 ’24. After this action, Salzmann Peter now owns 931,231 shares of Immunovant Inc, valued at $486,362 using the latest closing price.
Barnett Eva Renee, the Chief Financial Officer of Immunovant Inc, sale 2,930 shares at $36.15 during a trade that took place back on Feb 22 ’24, which means that Barnett Eva Renee is holding 320,420 shares at $105,920 based on the most recent closing price.
Stock Fundamentals for IMVT
The total capital return value is set at -0.37. Equity return is now at value -44.51, with -41.70 for asset returns.
Based on Immunovant Inc (IMVT), the company’s capital structure generated 0.0 points at debt to capital in total, while cash flow to debt ratio is standing at -687.32. The debt to equity ratio resting at 0.0. The interest coverage ratio of the stock is 66.24.
Currently, EBITDA for the company is -198.28 million with net debt to EBITDA at 2.99. The liquidity ratio also appears to be rather interesting for investors as it stands at 22.14.
Conclusion
In conclusion, Immunovant Inc (IMVT) has had a bad performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
