This afternoon we watched Immunovant rise 6.1% to a price of $33.48 per share. The Mid-Cap Biotechnology company is now trading -33.92% below its average target price of $50.67. Analysts have set target prices ranging from $40.0 to $57.0 per share for Immunovant, and have given the stock an average rating of buy.
The stock has an above average percentage of its shares sold short at 12.4%, and a short ratio of 7.62. Since 55.5% of the company's shares are owned by insiders, we can infer that there is a degree of alignment between management and shareholder interests. Finally, we also note that only a small number of institutional investors are invested in the stock, with 47.6% of Immunovant's shares being owned by this investor type.
Institutions Invested in Immunovant
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-12-31 | FMR, LLC | 5% | 7,875,822 | $263,721,904 |
| 2023-12-31 | Vanguard Group Inc | 4% | 5,827,798 | $195,143,819 |
| 2023-12-31 | Blackrock Inc. | 3% | 4,530,716 | $151,711,028 |
| 2023-12-31 | State Street Corporation | 2% | 3,216,376 | $107,700,352 |
| 2023-12-31 | Point72 Asset Management, L.P. | 2% | 2,666,883 | $89,300,578 |
| 2023-12-31 | Perceptive Advisors Llc | 2% | 2,328,082 | $77,955,827 |
| 2023-12-31 | Price (T.Rowe) Associates Inc | 1% | 1,602,562 | $53,661,789 |
| 2023-12-31 | Armistice Capital, LLC | 1% | 1,436,000 | $48,084,460 |
| 2023-12-31 | Alpine Global Management, LLC | 1% | 1,398,372 | $46,824,487 |
| 2023-12-31 | Adage Capital Partners GP L.L.C. | 1% | 1,331,780 | $44,594,654 |
Besides an analyst consensus of strong upside potential, other market factors point to there being positive market sentiment on Immunovant.
