Immunovant Inc (IMVT) Shares Plummet Below 1-Year High

The stock price of Immunovant Inc (NASDAQ: IMVT) has plunged by -2.44 when compared to previous closing price of 30.30, but the company has seen a -4.43% decline in its stock price over the last five trading sessions. zacks.com reported 2024-05-13 that The average of price targets set by Wall Street analysts indicates a potential upside of 68.6% in Immunovant (IMVT). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.

Is It Worth Investing in Immunovant Inc (NASDAQ: IMVT) Right Now?

IMVT has 36-month beta value of 0.76. Analysts have mixed views on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”

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The public float for IMVT is 60.90M, and currently, short sellers hold a 14.72% ratio of that float. The average trading volume of IMVT on May 23, 2024 was 1.08M shares.

IMVT’s Market Performance

The stock of Immunovant Inc (IMVT) has seen a -4.43% decrease in the past week, with a 3.32% rise in the past month, and a -17.87% fall in the past quarter. The volatility ratio for the week is 3.38%, and the volatility levels for the past 30 days are at 4.09% for IMVT. The simple moving average for the last 20 days is 0.62% for IMVT stock, with a simple moving average of -9.79% 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 -2.09% 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 -35.15% of loss for the given period.

Volatility was left at 4.09%, however, over the last 30 days, the volatility rate increased by 3.38%, as shares surge +2.64% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -6.16% lower at present.

During the last 5 trading sessions, IMVT fell by -4.43%, which changed the moving average for the period of 200-days by +37.04% in comparison to the 20-day moving average, which settled at $29.42. In addition, Immunovant Inc saw -29.84% 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 Stout Jay S, who sale 7,239 shares at the price of $28.90 back on Apr 24 ’24. After this action, Stout Jay S now owns 147,739 shares of Immunovant Inc, valued at $209,207 using the latest closing price.

Levine Mark S., the Chief Legal Officer of Immunovant Inc, sale 3,963 shares at $28.90 during a trade that took place back on Apr 24 ’24, which means that Levine Mark S. is holding 343,156 shares at $114,531 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

To put it simply, Immunovant Inc (IMVT) has had a mixed performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as 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.

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