Immunovant Inc (NASDAQ:IMVT) price on Thursday, March 28, fall -0.65% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $32.31.
A look at the stock’s price movement, the close in the last trading session was $32.52. Turning to its 52-week performance, $45.58 and $14.05 were the 52-week high and 52-week low respectively. Overall, IMVT moved -14.21% over the past month.
Immunovant Inc’s market cap currently stands at around $4.69 billion. Analysts project the company’s earnings per share (EPS) to be -$0.43, which has seen fiscal year 2024 EPS growth forecast to increase to -$1.79 and about -$1.88 for fiscal year 2025. Per the data, EPS growth is expected to be -4.70% for 2024 and -5.00% for the next financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was 1 upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that IMVT is a Hold. On the other hand, the stock is on average a Hold as suggested by medium term indicators while long term indicators are putting the stock in Hold category.
IMVT’s current price about -0.04% and -8.91% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 44.94, while 7-day volatility ratio is 4.70% and 5.59% in the 30-day chart. Further, Immunovant Inc (IMVT) has a beta value of 0.70, and an average true range (ATR) of 1.73.
If we refocus on Immunovant Inc (NASDAQ:IMVT), historical trading data shows that trading volumes averaged 1.37 million over the past 10 days and 1.27 million over the past 3 months. The company’s latest data on shares outstanding shows there are 130.33 million shares.
The 57.94% of Immunovant Inc’s shares are in the hands of company insiders while institutional holders own 46.33% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 9.35 million on Mar 15, 2024, giving us a short ratio of 7.93. The data shows that as of Mar 15, 2024 short interest in Immunovant Inc (IMVT) stood at 6.44% of shares outstanding, with shares short rising to 9.01 million registered in Feb 15, 2024. Current price change has pushed the stock -23.31% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the IMVT stock continues to rise going into the next quarter.
