SummaryI initiate coverage of Immunovant with a BUY rating and a $50 price target, driven by optimism around IMVT-1402's differentiated profile.IMVT-1402 demonstrates strong IgG reduction with minimal albumin and LDL impact, potentially best-in-class, with Graves' disease as the principal valuation driver.My valuation assumes ~$4B probability-adjusted peak sales and a conservative 2.5x sales multiple, supporting a ~$10.9B equity value, or $50 per share.IMVT's cash runway extends into 2028, but additional non-dilutive financing is likely needed as late-stage trials and commercialization progress. Just_Super/E+ via Getty Images
Investment thesis and company overview I initiate coverage of Immunovant (IMVT) with a BUY rating and a $50 price target. My thesis and the buy rating is centered around my bullish stance around
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Analyst’s Disclosure: I/we have a beneficial long position in the shares of IMVT, ARGX either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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NEW YORK, July 20, 2026 (GLOBE NEWSWIRE) -- Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of Immunovant, Inc. (NASDAQ: IMVT) breached their fiduciary duties to shareholders. The investigation concerns potential self-dealing. Shareholders may be entitled to damages and corporate governance reforms.
If you are a long-term IMVT stockholder please contact Justin Kuehn, Esq. by email at [email protected] or call (833) 672-0814. The consultation and case are free with no obligation to you. Kuehn Law pays all case costs and does not charge its investor clients. Shareholders should contact the firm immediately as there may be limited time to enforce your rights.
Why Your Participation Matters:
As a shareholder your voice matters, and by getting involved, you contribute to the integrity and fairness of the financial markets. Your investment. Your voice. Your future.™
A month has gone by since the last earnings report for Immunovant, Inc. (IMVT - Free Report) . Shares have added about 3.6% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Immunovant due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
Immunovant's Q4 Loss Wider Than Expected, Pipeline in Focus
Immunovant incurred a fourth-quarter 2026 net loss of 73 cents per share, wider than the Zacks Consensus Estimate of a loss of 60 cents. The company had reported a loss of 64 cents per share in the year-ago quarter.
Excluding stock-based compensation expense, IMVT reported a net loss of 67 cents per share.
Currently, Immunovant does not have any approved products in its portfolio and has yet to generate revenues.
IMVT’s Q4 Results in Detail
Research and development expenses totaled $142.3 million, up 51.9% from the year-ago quarter’s figure. The increase was primarily due to clinical activities for IMVT-1402, as well as $39 million in costs associated with the discontinuation of batoclimab, partially offset by lower expenses related to batoclimab studies.
General and administrative expenses were $17.3 million, down 14.4% year over year, primarily due to lower personnel-related expenses, market research and information technology costs, legal and other professional fees.
As of March 31, 2026, Immunovant’s cash and cash equivalents totaled approximately $902.1 million compared with $994.5 million as of Dec. 31, 2025. The cash balance is expected to extend IMVT’s cash runway through the commercial launch of IMVT-1402 for GD.
IMVT’s Full-Year 2026 Results
For full-year 2026, Immunovant recorded a net loss of $2.77 per share compared with a net loss of $2.73 per share reported in 2025.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates review.
VGM ScoresAt this time, Immunovant has a subpar Growth Score of D, though it is lagging a bit on the Momentum Score front with an F. Charting a somewhat similar path, the stock was allocated a score of D on the value side, putting it in the bottom 40% for value investors.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, Immunovant has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry PlayerImmunovant belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, TG Therapeutics (TGTX - Free Report) , has gained 35.6% over the past month. More than a month has passed since the company reported results for the quarter ended March 2026.
TG Therapeutics reported revenues of $204.92 million in the last reported quarter, representing a year-over-year change of +69.6%. EPS of $0.17 for the same period compares with $0.03 a year ago.
For the current quarter, TG Therapeutics is expected to post earnings of $0.42 per share, indicating a change of +147.1% from the year-ago quarter. The Zacks Consensus Estimate has changed +10.6% over the last 30 days.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for TG Therapeutics. Also, the stock has a VGM Score of D.
On February 17, 2026, Logos Global Management LP disclosed in a Securities and Exchange Commission filing that it bought 1,100,000 shares of Immunovant (IMVT +2.13%), an estimated $24.53 million trade based on quarterly average pricing.
Logos bought 1,100,000 additional shares of Immunovant, a transaction estimated at $24.5 million based on average quarterly closing prices.The full position grew by roughly $6.1 million in total value over the quarter, reflecting both the new shares and price movement in the stock.Logos finished the quarter holding 1,375,000 Immunovant shares, valued at roughly $34.95 million which represents 2.11% of the fund’s AUM, placing it outside the fund’s top five holdingsWhat happenedAccording to a Securities and Exchange Commission (SEC) filing dated February 17, 2026, Logos Global Management LP increased its position in Immunovant by 1,100,000 shares during the fourth quarter of 2025. The estimated transaction value was $24.4 million, based on the average closing price in the quarter. The value of the stake at quarter-end rose by $6.1 million, a figure that includes both trading and market price effects.
What else to knowAfter the buy Immunovant accounts for 2.11% of the fund’s 13F assets under management (AUM)Top holdings after the filing:NASDAQ:RVMD: $238.50 million (14.4% of AUM)NASDAQ:PRAX: $110.53 million (6.7% of AUM)NASDAQ:IDYA: $108.03 million (6.5% of AUM)NASDAQ:OLMA: $80.22 million (4.9% of AUM)NASDAQ:CDTX: $68.48 million (4.1% of AUM)As of March 13 2026, shares of Immunovant were priced at $24.72, up 29.3% over the past year and outperforming the S&P 500 by 10.58%.Company OverviewMetricValuePrice (as of market close 3/13/26)$24.70Market Capitalization$5.03 billionNet Income (TTM)($464.20 million)1-Year Price Change29.24%Company SnapshotImmunovant is a subsidiary of Roivant Sciences (NASDAQ: ROIV) focused on monoclonal antibody therapeutics for autoimmune diseases.What this transaction means for investorsIts lead candidate, batoclimab, has completed Phase III trials in myasthenia gravis and is in ongoing Phase III trials for thyroid eye disease, with results expected in the first half of 2026.The company has no approved products yet — revenue depends entirely on successful clinical and regulatory outcomes.Immunovant is advancing batoclimab across multiple autoimmune indications, with no approved products yet and a regulatory path that hinges on ongoing Phase III outcomes.
What This Transaction Means for InvestorsLogos Global Management is a San Francisco-based, healthcare-focused hedge fund running a concentrated, research-driven book in life sciences and biotech. This isn't a generalist fund dipping into the sector — it's the kind of firm that does deep scientific and regulatory diligence before sizing up a position.
The Immunovant buy is notable for its scale. Logos nearly quintupled its stake, adding 1.1 million shares for an estimated $24.5 million and bringing its total to roughly $35 million. That's a meaningful commitment: Immunovant now sits at about 2% of AUM, up from 0.4% — a shift that carries real weight in a concentrated book.
For individual investors, a move like this from a specialist healthcare fund is worth treating as a research prompt rather than a buy signal. Clinical-stage biotech carries real binary risk, and institutional conviction here is usually the product of diligence retail investors don't have direct access to. The more useful takeaway is simply that a fund that lives in this space saw enough to add aggressively — why exactly, and how it fits their broader strategy, is hard to know without explicit statements from them. What investors can watch is the batoclimab thyroid eye disease readout, with topline data from both Phase 3 TED studies expected concurrently in the first half of 2026. That's the next concrete event that will shape Immunovant's regulatory path.
Seena Hassouna has no position in any of the stocks mentioned. The Motley Fool recommends Roivant Sciences. The Motley Fool has a disclosure policy.
A woman gets her eyes tested in Los Angeles, California September 11, 2014. REUTERS/Mario Anzuoni/File photo Purchase Licensing Rights, opens new tab
CompaniesApril 2 (Reuters) - Immunovant (IMVT.O), opens new tab said on Thursday that its therapy failed to reduce eye bulging when tested in patients with moderate-to-severe thyroid eye disease in two late-stage studies.
Shares of the company were down 4.8% at $23.89.
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The results do not support further progress in thyroid eye disease, said Matt Gline CEO of Roivant (ROIV.O), opens new tab, Immunovant's parent company, during a call with analysts.
The studies were testing its experimental therapy batoclimab in the autoimmune disorder that commonly causes proptosis or eye bulging and eye irritation. In severe cases it can also lead to double vision or vision loss.
The company said the studies failed to meet the main goal of an at least 2 millimeter reduction in eye bulging after 24 weeks, following 12 weeks of high-dose and 12 weeks of low-dose batoclimab treatment.
Batoclimab is designed to help the body clear harmful antibodies by blocking a protein that normally keeps them in circulation.
Safety results were consistent with previous findings, Immunovant said.
Immunovant plans to focus future development on its other experimental therapy IMVT-1402, across multiple autoimmune diseases, and said batoclimab for thyroid eye disease is not a key focus area.
The company intends to review future plans for the development of batoclimab with its partner HanAll Biopharma and provide an update on the program at a future date.
On Monday, Viridian Therapeutics' (VRDN.O), opens new tab experimental treatment for thyroid eye disease lagged rivals in efficacy in a late-stage study.
Reporting by Sneha S K in Bengaluru; Editing by Nivedita Bhattacharjee and Shailesh Kuber
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Roivant Sciences and Priovant Therapeutics executives outlined an expansion of the brepocitinib development program into lichen planopilaris (LPP) and discussed newly released Phase 3 results for batoclimab in thyroid eye disease (TED), which failed to meet its primary endpoint.
Brepocitinib expands into lichen planopilaris Matt Gline, CEO of Roivant Sciences, said the companies are moving with “urgency” to broaden the potential of brepocitinib across multiple indications, focusing on orphan immunology diseases with high unmet need, mechanistic alignment with JAK1/TYK2 inhibition, and some level of clinical proof-of-concept.
Gline highlighted Priovant’s existing brepocitinib portfolio, including dermatomyositis (with a PDUFA date in the third quarter), non-infectious uveitis (Phase 3 topline data expected in the back half of the year), and cutaneous sarcoidosis (Phase 3 study planned to start in the second half of the year). He announced LPP as a fourth program, with a combined Phase 2b/3 study that he said began last month and is now underway.
Executives described LPP as a severe inflammatory scalp disorder that can cause scarring and generally irreversible hair loss. Gline said symptoms can include “itch, burning, redness, scaling,” and in many cases “intensely painful” disease. He emphasized there are no FDA-approved therapies and said patients often require chronic, aggressive multi-drug regimens with limited efficacy and poor tolerability. Gline estimated the condition may have “up to 100,000 U.S. patients,” calling it a “large orphan size.”
Ben Zimmer, CEO of Priovant Therapeutics, added that LPP is associated with “an increased risk of many severe comorbidities, including both skin cancer and other autoimmune diseases.” He said many off-label treatments are tried but are often discontinued due to tolerability and limited benefit.
Rationale: TH1-driven biology and existing proof-of-concept Zimmer said Priovant believes LPP biology aligns with brepocitinib’s mechanism, describing LPP as “driven primarily by TH1 polarized T cell aberrant behavior.” He pointed to interferon-gamma and IL-12 as critical TH1 pathway cytokines and said a JAK1/TYK2 inhibitor is positioned to suppress signaling for both.
Zimmer also cited “case reports and investigator-initiated trials” involving JAK1 and TYK2 inhibitors as supportive clinical validation for the mechanism. He discussed a small, investigator-initiated, placebo-controlled trial of brepocitinib at Mount Sinai that used the LPPAI endpoint, which he characterized as noisy and not preferred by clinicians. While cautioning against overinterpreting the small dataset, he said the treated arm “clearly” improved over time.
Zimmer said biomarker data from that study was especially compelling, pointing to effects on “multiple markers of TH1-driven disease activity,” including interferon-gamma, IL-12, and chemokines such as CCL5.
Trial design: combined Phase 2b/3 with endpoint refinement Gline said the LPP program is designed to function as a “straight to registrational” approach. The study includes a 72-patient Phase 2b portion, followed by a seamless transition into a Phase 3 portion expected to enroll approximately 270 patients, with a sample size re-estimation after Phase 2b. He said the structure is intended to support endpoint validation and regulatory alignment while maintaining development speed, but the company is “not ready to guide today” on enrollment timelines.
In Q&A, management described replacing LPPAI with more defined measures. Zimmer said LPPAI lacks standardized definitions for symptom scoring, contributing to variability. Priovant plans to use an Investigator’s Global Assessment (IGA) that measures erythema and scale with defined criteria, along with secondary endpoints evaluating symptoms such as pain and itch via numeric rating scales.
Zimmer said Priovant’s “base case” assumption is that the Phase 3 primary endpoint will be “IGA zero/one with two-point reduction,” while acknowledging the Phase 2b portion is meant to help understand endpoint behavior in a new indication. He added that the company plans to “wash patients out of background meds ahead of the enrollment quite aggressively,” consistent with other Priovant trials.
Batoclimab Phase 3 TED miss; read-through to Graves’ discussed Gline also addressed Phase 3 TED results for batoclimab from Immunovant (NASDAQ:IMVT), describing the failure to meet the primary endpoint (a ≥2 mm proptosis responder rate) as “obviously disappointing.” He noted batoclimab had shown success in an earlier Phase 2 TED study but said this Phase 3 outcome does not support continued development in TED.
Gline emphasized that Immunovant’s future development focus is on IMVT-1402 rather than batoclimab, describing the TED readout as “effectively the last study to read out from the first generation program.” He said the TED trial design included 12 weeks of high-dose batoclimab followed by 12 weeks of lower dose, and he repeatedly pointed to better performance during the higher-dose period. Across endpoints, he said outcomes “got worse as you went from week 12 to week 24” after the dose step-down, which he framed as supportive of the importance of deeper IgG suppression.
In a pooled subset of about 20 hyperthyroid patients across the two studies, Gline reported a 75% mean IgG reduction and an 80% responder rate using the same thyroid hormone normalization definition the company used in a Phase 2 Graves’ disease study. He said the responder rate declined after 24 weeks as IgG suppression lessened, and he suggested the pattern reinforces the concept that “the deeper you can get IgG lower, the better you’re gonna do” in Graves’ disease.
Gline said hyperthyroid patients in the TED studies appeared to do “somewhat better” than the overall population on proptosis outcomes. He also noted that anti-thyroid drug doses were required to remain stable throughout the TED studies, limiting conclusions about dose reduction in clinical practice.
Looking ahead, Gline said the company expects both ongoing Graves’ studies with IMVT-1402 to read out next year and characterized enrollment as “generally going well.”
About Immunovant (NASDAQ:IMVT) Immunovant Inc is a clinical-stage biopharmaceutical company focused on the development of novel monoclonal antibody therapies that target the neonatal Fc receptor (FcRn) to treat severe autoimmune diseases. By inhibiting FcRn, Immunovant’s approach is designed to reduce levels of pathogenic immunoglobulin G (IgG) antibodies, which play a central role in the pathology of disorders such as myasthenia gravis and immune thrombocytopenia.
The company’s lead asset, efgartigimod, is an engineered Fc fragment that selectively binds to FcRn, accelerating the degradation of circulating IgG.
Further Reading Five stocks we like better than Immunovant
Key Takeaways Immunovant's phase III GO trials of batoclimab in TED miss their primary endpoints.IMVT shares fell 2.4% on April 2 following the disappointing trial results.Batoclimab showed consistent safety and better proptosis improvement in the high-dose phase. Immunovant (IMVT - Free Report) reported top-line results from two phase III studies, known as the GO trials, evaluating batoclimab as an investigational treatment for adult patients with active, moderate-to-severe thyroid eye disease (TED). Both studies failed to achieve their primary endpoint. Shares fell 2.4% on April 2 following the announcement.
Under the HanAll Agreement, Immunovant is developing batoclimab in partnership with HanAll Biopharma. Per the deal, Immunovant holds exclusive rights to develop and commercialize batoclimab in key global markets, while HanAll remains the originator of the molecule and retains rights outside the licensed territory.
Year to date, Immunovant shares have lost 3.6% against the industry’s 5.7% growth.
Image Source: Zacks Investment Research
Key Highlights of IMVT’s Phase III Batoclimab Studies for TEDBased on the pre-specified statistical analysis plan, neither study evaluating batoclimab for TED patients met the primary endpoint of a 2 millimeters or greater proptosis responder rate at week 24, after 12 weeks of high-dose followed by 12 weeks of low-dose batoclimab treatment.
Despite the setback, the therapy demonstrated a safety profile consistent with prior studies, with no new safety concerns identified.
Notably, patients experienced greater improvements in proptosis from baseline during the initial 12-week high-dose treatment phase compared to the subsequent 12-week low-dose period, underscoring the potential advantage of achieving deeper IgG suppression.
Among hyperthyroid patients in the TED studies, thyroid hormone normalization rates were consistent with those observed in the phase II study of batoclimab in Graves’ disease (GD), reinforcing the therapy’s biological activity in this population.
Immunovant intends to review future development plans for batoclimab with its partner HanAll Biopharma and provide an update at a later date.
The company remains focused on advancing IMVT-1402, its investigational FcRn blocker, across multiple autoimmune diseases, with GD identified as a key strategic priority. Top-line data from potentially registrational IMVT-1402 studies in GD are expected in 2027.
IMVT’s Zacks Rank & Stocks to ConsiderImmunovant currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the biotech sector are Catalyst Pharmaceuticals (CPRX - Free Report) and Indivior Pharmaceuticals (INDV - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy), and ANI Pharmaceuticals (ANIP - Free Report) , which carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, estimates for Catalyst Pharmaceuticals’ 2026 earnings per share have risen from $2.55 to $2.87. CPRX shares have gained 5.8% year to date.
Catalyst Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, with the average surprise being 35.19%.
Over the past 60 days, estimates for Indivior Pharmaceuticals’ 2026 earnings per share have risen from $2.89 to $3.08. INDV shares have lost 15.1% year to date.
Indivior Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, with the average surprise being 74.53%.
Over the past 60 days, estimates for ANI Pharmaceuticals’ earnings per share have increased from $8.14 to $8.99 for 2026. Year to date, shares of ANIP have declined 6%.
ANI Pharmaceuticals' earnings beat estimates in each of the trailing four quarters, with the average surprise being 22.21%.
Arcus Biosciences (NYSE:RCUS – Get Free Report) and Immunovant (NASDAQ:IMVT – Get Free Report) are both mid-cap medical companies, but which is the superior investment? We will compare the two companies based on the strength of their dividends, institutional ownership, valuation, analyst recommendations, risk, profitability and earnings.
Institutional & Insider Ownership 92.9% of Arcus Biosciences shares are held by institutional investors. Comparatively, 47.1% of Immunovant shares are held by institutional investors. 9.6% of Arcus Biosciences shares are held by insiders. Comparatively, 1.8% of Immunovant shares are held by insiders. Strong institutional ownership is an indication that large money managers, endowments and hedge funds believe a stock will outperform the market over the long term.
Earnings & Valuation This table compares Arcus Biosciences and Immunovant”s top-line revenue, earnings per share and valuation.
Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio Arcus Biosciences $247.00 million 11.31 -$353.00 million ($3.30) -6.75 Immunovant N/A N/A -$413.84 million ($2.69) -9.11 Arcus Biosciences has higher revenue and earnings than Immunovant. Immunovant is trading at a lower price-to-earnings ratio than Arcus Biosciences, indicating that it is currently the more affordable of the two stocks.
Profitability This table compares Arcus Biosciences and Immunovant’s net margins, return on equity and return on assets.
Net Margins Return on Equity Return on Assets Arcus Biosciences -142.91% -65.77% -32.51% Immunovant N/A -63.17% -58.01% Volatility and Risk Arcus Biosciences has a beta of 0.86, meaning that its share price is 14% less volatile than the S&P 500. Comparatively, Immunovant has a beta of 0.67, meaning that its share price is 33% less volatile than the S&P 500.
Analyst Recommendations This is a breakdown of recent recommendations and price targets for Arcus Biosciences and Immunovant, as provided by MarketBeat.com.
Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score Arcus Biosciences 1 3 7 1 2.67 Immunovant 1 4 6 0 2.45 Arcus Biosciences presently has a consensus price target of $30.80, suggesting a potential upside of 38.18%. Immunovant has a consensus price target of $32.00, suggesting a potential upside of 30.61%. Given Arcus Biosciences’ stronger consensus rating and higher possible upside, equities research analysts clearly believe Arcus Biosciences is more favorable than Immunovant.
Summary Arcus Biosciences beats Immunovant on 11 of the 14 factors compared between the two stocks.
About Arcus Biosciences (Get Free Report)
Arcus Biosciences, Inc., a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. The company's pipeline products include Domvanalimab, an anti-TIGIT antibody, which is in Phase 2 and Phase 3 clinical trial; and AB308, an investigational anti-TIGIT monoclonal antibody, which is in Phase 1b clinical trial to study people with advanced solid and hematologic malignancies. It also develops Etrumadenant, a dual A2a/A2b adenosine receptor antagonist, which is in Phase 2 clinical trial; Quemliclustat, a small-molecule CD73 inhibitor, which is Phase 1b and Phase 2 clinical trial; Zimberelimab, an anti-PD-1 antibody, which is in Phase 2 clinical trial for metastatic cell lung cancer and monotherapy; and AB521, an oral and small-molecule inhibitor of HIF-2a, which is in Phase 1 clinical trial for the treatment of Von Hippel-Lindau disease. In addition, the company's preclinical pipeline products include AB598, a CD39 antibody; and AB801, a small molecule Axl inhibitor. It has a clinical collaboration with AstraZeneca to evaluate domvanalimab in combination with durvalumab in a registrational phase 3 clinical trial in patients with unresectable Stage 3 NSCLC; and BVF Partners L.P. to support the discovery and development of compounds for the treatment of inflammatory diseases. Arcus Biosciences, Inc. was incorporated in 2015 and is headquartered in Hayward, California.
About Immunovant (Get Free Report)
Immunovant, Inc., a clinical-stage biopharmaceutical company, develops monoclonal antibodies for the treatment of autoimmune diseases. It develops batoclimab, a novel fully human monoclonal antibody that target the neonatal fragment crystallizable receptor for the treatment of myasthenia gravis, thyroid eye disease, chronic inflammatory demyelinating polyneuropathy, and Graves diseases, as well as warm autoimmune hemolytic anemia. The company is headquartered in New York, New York. Immunovant, Inc. operates as a subsidiary of Roivant Sciences Ltd.
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Immunovant, Inc. (NASDAQ:IMVT – Get Free Report) CTO Jay Stout sold 2,754 shares of Immunovant stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $29.62, for a total transaction of $81,573.48. Following the completion of the sale, the chief technology officer directly owned 251,685 shares in the company, valued at $7,454,909.70. This represents a 1.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Immunovant Stock Performance Immunovant stock opened at $28.58 on Monday. The company’s fifty day moving average price is $25.99 and its 200 day moving average price is $24.75. Immunovant, Inc. has a 1 year low of $13.36 and a 1 year high of $30.09. The stock has a market capitalization of $5.82 billion, a P/E ratio of -10.62 and a beta of 0.67.
Immunovant (NASDAQ:IMVT – Get Free Report) last released its quarterly earnings results on Friday, February 6th. The company reported ($0.61) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.11. During the same quarter last year, the firm posted ($0.76) earnings per share. Sell-side analysts predict that Immunovant, Inc. will post -2.67 EPS for the current year.
Wall Street Analysts Forecast Growth Several equities research analysts have issued reports on the stock. Truist Financial lifted their target price on shares of Immunovant from $16.00 to $22.00 and gave the stock a “hold” rating in a research note on Thursday, January 8th. Sanford C. Bernstein assumed coverage on shares of Immunovant in a research note on Friday, March 20th. They set a “market perform” rating and a $28.00 target price on the stock. Wolfe Research raised shares of Immunovant from a “peer perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research note on Tuesday, January 6th. HC Wainwright reaffirmed a “buy” rating and set a $35.00 target price on shares of Immunovant in a research note on Tuesday, February 10th. Finally, The Goldman Sachs Group lifted their target price on shares of Immunovant from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 15th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $32.44.
Read Our Latest Report on Immunovant
Institutional Trading of Immunovant Several institutional investors and hedge funds have recently bought and sold shares of IMVT. RTW Investments LP purchased a new stake in Immunovant in the 4th quarter valued at about $80,781,000. Morgan Stanley raised its holdings in Immunovant by 147.4% in the 4th quarter. Morgan Stanley now owns 4,846,385 shares of the company’s stock valued at $123,195,000 after buying an additional 2,887,359 shares during the period. ADAR1 Capital Management LLC raised its holdings in Immunovant by 319.0% in the 3rd quarter. ADAR1 Capital Management LLC now owns 2,241,753 shares of the company’s stock valued at $36,137,000 after buying an additional 1,706,687 shares during the period. Logos Global Management LP raised its holdings in Immunovant by 400.0% in the 4th quarter. Logos Global Management LP now owns 1,375,000 shares of the company’s stock valued at $34,952,000 after buying an additional 1,100,000 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Immunovant by 14.0% in the 4th quarter. Vanguard Group Inc. now owns 7,779,314 shares of the company’s stock valued at $197,750,000 after buying an additional 952,504 shares during the period. 47.08% of the stock is currently owned by hedge funds and other institutional investors.
Immunovant Company Profile (Get Free Report)
Immunovant Inc is a clinical-stage biopharmaceutical company focused on the development of novel monoclonal antibody therapies that target the neonatal Fc receptor (FcRn) to treat severe autoimmune diseases. By inhibiting FcRn, Immunovant’s approach is designed to reduce levels of pathogenic immunoglobulin G (IgG) antibodies, which play a central role in the pathology of disorders such as myasthenia gravis and immune thrombocytopenia.
The company’s lead asset, efgartigimod, is an engineered Fc fragment that selectively binds to FcRn, accelerating the degradation of circulating IgG.
Recommended Stories Five stocks we like better than Immunovant
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DURHAM, N.C., May 20, 2026 (GLOBE NEWSWIRE) -- Immunovant, Inc. (Nasdaq: IMVT), a clinical-stage immunology company dedicated to enabling normal lives for people with autoimmune diseases, today reported corporate updates and financial results for its fourth quarter and fiscal year ended March 31, 2026.
Roivant executives used the company’s fourth-quarter and fiscal-year earnings call to highlight new clinical data from its development portfolio, upcoming readouts and its strengthened balance sheet following a settlement with Moderna.
Matthew Klein, CEO of Roivant, said the company has had “a pretty wild 12 months,” citing progress across multiple programs and a series of expected milestones over the next year. The most prominent update was preliminary open-label data from a study of IMVT-1402 in difficult-to-treat rheumatoid arthritis, a program run by Immunovant NASDAQ: IMVT.
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IMVT-1402 Shows Open-Label Activity in Difficult-to-Treat Rheumatoid Arthritis Klein said the preliminary open-label period data from the 1402 study in difficult-to-treat rheumatoid arthritis were “surprisingly good,” while cautioning that the results came from an open-label portion of the trial.
The study enrolled heavily refractory patients who had failed steroids, DMARDs and at least two advanced lines of therapy. Roivant said the trial also required ACPA positivity above a specified threshold. The study included 165 evaluable patients, with a baseline DAS28 CRP score of 6.1, which Klein described as reflecting “quite a sick patient population.”
In the 16-week open-label treatment period, patients received 600 milligrams of IMVT-1402. Roivant reported approximately 73% ACR20 responses, more than half of patients achieving ACR50 responses and more than one-third achieving ACR70 responses.
Klein said the depth of responses was particularly notable. “Once you get onto the deeper end of that with ACR 50s and ACR 70s, you just don’t see a lot of placebo response in that level of responder analysis,” he said.
The company also highlighted a subset of 107 patients who were both JAK inhibitor- and TNF-experienced. Klein said the response rates were “basically fully preserved” in that group, which he said supported the company’s thesis that targeting autoantibody-positive disease could offer an orthogonal mechanism for patients who have failed other anti-inflammatory therapies.
Roivant said IMVT-1402 was safe and well-tolerated in the study, with no new drug-related safety signals identified. In response to an analyst question, Klein said the company has seen “no impact on albumin or LDL” across hundreds of patients dosed with 1402, though he did not provide specific numerical data from the rheumatoid arthritis trial.
Randomized Withdrawal Data Still Pending The second period of the rheumatoid arthritis study is a 12-week randomized withdrawal phase in which ACR20 responders from weeks 14 and 16 are re-randomized to 600 milligrams, 300 milligrams or placebo. Klein said that portion is still ongoing, with more than half of patients still being dosed, and no data from that period were shared on the call.
Klein cautioned that the strong open-label responses could make the withdrawal portion harder to interpret. He said the primary endpoint asks whether patients taken off drug lose their ACR20 response within 12 weeks, but patients who achieved ACR50 or ACR70 responses may take longer to fall below the ACR20 threshold.
“There are plenty of scenarios where we don’t see a P value in period 2 and continue forward with the drug given the overall quality of this data,” Klein said. He added that Roivant expects to share more patient-level analysis and feedback from discussions with the FDA in the second half of the year.
Klein said prior commercial analysis suggested the target population could be at least 70,000 patients, while more recent analysis by Immunovant indicated the number could be 85,000 or higher.
Mosliciguat Readout Expected in PH-ILD Roivant also previewed mosliciguat, an inhaled sGC activator being developed for pulmonary hypertension associated with interstitial lung disease, or PH-ILD. Top-line data from the Phase IIb FOCUS study are expected in the second half of 2026.
Andrew Fromkin, CEO of Priovant, said mosliciguat is designed to activate sGC directly in the lungs and restore impaired sGC function. The company believes the drug could address both pulmonary vascular disease and lung parenchymal disease in PH-ILD.
Fromkin said prior Phase I studies conducted by Bayer included 170 participants, including healthy volunteers and pulmonary hypertension patients. In a Phase Ib study, a single dose of mosliciguat produced a mean PVR reduction of more than 30% and a mean peak PVR reduction of about 38%. Fromkin also said the drug was well-tolerated, with mild-to-moderate treatment-emergent adverse events and no significant cough observed.
The FOCUS study enrolled 135 patients, above the target of 120. The trial is randomized 2-to-1, drug to placebo, and uses change from baseline in pulmonary vascular resistance at week 16 as the primary endpoint. Secondary endpoints include six-minute walk distance and NT-proBNP.
Klein emphasized that the study is not powered to show a statistically significant benefit on six-minute walk distance. “What we’re really looking for is affirmation of dosing, affirmation of safety, affirmation of PVR in this patient population,” he said.
Roivant said PH-ILD affects up to approximately 200,000 patients in the U.S. and Europe and has fewer than five years of median survival in severe subgroups. Fromkin noted that only two FDA-approved treprostinil drugs are currently available.
Brepocitinib Commercial Preparations Continue Roivant also discussed brepocitinib, including commercial preparations for a potential launch in dermatomyositis by the end of September, assuming FDA action proceeds as expected. Klein said the company is engaged with payers, physicians and specialty pharmacies and has built a commercial team for the launch.
Klein said dermatomyositis patients have limited options, with many treated with steroids, IVIG and off-label therapies. He also noted that Phase III data for brepocitinib were published in the New England Journal of Medicine in March.
Roivant said additional brepocitinib-related catalysts include expected Phase III top-line data in non-infectious uveitis in the second half of the year, the planned start of a Phase III study in cutaneous sarcoidosis this year and an ongoing study in lichen planopilaris. Klein said lichen planopilaris has no FDA-approved therapies and may affect about 100,000 patients in the U.S.
Cash Position Strengthened by Moderna Settlement Roivant reported $4.3 billion in cash and cash equivalents as of March 31, before accounting for its Moderna settlement. Klein said the company expects to receive the first $950 million upfront payment from the $2.25 billion settlement in July.
The company said it has no debt and continued to repurchase shares during the quarter. Klein said research and development spending has grown over time as the scope of Roivant’s programs has expanded.
Other upcoming milestones include top-line data from a cutaneous lupus erythematosus proof-of-concept study in the second half of the year, ongoing Graves’ disease studies with data expected in 2027, and myasthenia gravis data also expected next year.
About Immunovant NASDAQ: IMVTImmunovant Inc is a clinical-stage biopharmaceutical company focused on the development of novel monoclonal antibody therapies that target the neonatal Fc receptor (FcRn) to treat severe autoimmune diseases. By inhibiting FcRn, Immunovant's approach is designed to reduce levels of pathogenic immunoglobulin G (IgG) antibodies, which play a central role in the pathology of disorders such as myasthenia gravis and immune thrombocytopenia.
The company's lead asset, efgartigimod, is an engineered Fc fragment that selectively binds to FcRn, accelerating the degradation of circulating IgG.
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Immunovant shares are testing new highs. Why are IMVT shares at highs? Strong Trial Results Take Center StageThe company reported a quarterly loss of 73 cents per share, falling short of the 60 cents consensus estimate. Even so, traders pushed the stock higher as attention may have shifted to new results from the IMVT‑1402 program in difficult‑to‑treat rheumatoid arthritis (D2T RA). According to the filing, the therapy produced Week 16 ACR20, ACR50 and ACR70 response rates of 72.7%, 54.5% and 35.8%, respectively.
The document states that 86.7% of participants had failed two prior mechanisms of treatment, and the average time since diagnosis was nearly 13 years.
High Response Rates In A Tough‑To‑Treat PopulationThe company highlighted that even among patients who had previously failed both a JAK inhibitor and an anti‑TNF therapy, response rates remained strong at Week 16, with ACR20 at 72%, ACR50 at 53.3% and ACR70 at 37.4%.
The initial 16‑week portion of the study was open‑label, but joint assessments were performed by independent evaluators who were blinded to treatment status. Immunovant believes this reduces the risk of bias. The company reported that IMVT‑1402 continued to show a favorable safety profile with no new safety signals identified.
Cash Position Supports Long‑Term PlansAs of March 31, 2026, Immunovant reported $902.1 million in cash and equivalents, which the company says is enough to fund development through the potential commercial launch of IMVT‑1402 in Graves' disease.
Research and development spending rose to $142.3 million for the quarter, driven by IMVT‑1402 trial activity and $39 million in costs tied to discontinuing batoclimab. Non‑GAAP R&D expenses for the full fiscal year reached $426.9 million, up from $333.9 million the prior year.
General and administrative expenses declined year-over-year, falling to $17.3 million. Net loss widened to $147.9 million from $106.4 million a year earlier.
IMVT Shares Are SoaringIMVT Price Action: Immunovant shares were up 35.87% at $35.72 at the time of publication on Wednesday. The stock is trading at a new 52-week high, according to Benzinga Pro.
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Immunovant's underlying bull case has now moved away from batoclimab and toward IMVT-1402. This newer asset has encouraging data for difficult-to-treat RA. By week 16, 72.7% of hard-to-treat RA patients had good responses with IMVT-1402. IMVT also has a solid balance sheet this time around. And management believes its runway is sufficient through their next readouts.
