Immunovant Inc (NASDAQ:IMVT) shares, rose in value, with the stock price down by -1.09% to the previous day’s close as strong demand from buyers drove the stock to $30.84.
Actively observing the price movement in the last trading, the stock closed the session at $31.18. Referring to stock’s 52-week performance, its high was $45.58, and the low was $14.05. On the whole, IMVT has fluctuated by -9.21% over the past month.
As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.43, which is expected to increase to -$0.39 for fiscal year -$1.79 and then to about -$1.88 by fiscal year 2025. Data indicates that the EPS growth is expected to be -4.70% in 2025, while the next year’s EPS growth is forecast to be -5.00%.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that IMVT’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of IMVT currently trading nearly -2.55% and -11.25% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 39.26, while the 7-day volatility ratio is showing 4.01% which for the 30-day chart, stands at 5.11%. Furthermore, Immunovant Inc (IMVT)’s beta value is 0.70, and its average true range (ATR) is 1.59.
A comparison of Immunovant Inc (IMVT) with its peers suggests the former has fared considerably weaker in the market. IMVT showed an intraday change of -1.09% in last session, and over the past year, it grew by 98.97%%.
Data on historical trading for Immunovant Inc (NASDAQ:IMVT) indicates that the trading volumes over the past 10 days have averaged 1.25 million and over the past 3 months, they’ve averaged 1.26 million. According to company’s latest data on outstanding shares, there are 130.33 million shares outstanding.
Nearly 57.94% of Immunovant Inc’s shares belong to company insiders and institutional investors own 46.33% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 9.35 million shares as on Mar 15, 2024, resulting in a short ratio of 7.93. According to the data, the short interest in Immunovant Inc (IMVT) stood at 6.44% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 9.01 million. The stock has fallen by -26.80% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the IMVT stock heading into the next quarter.
