Immunovant Inc (NASDAQ:IMVT) shares, rose in value on Friday, November 01, with the stock price up by 0.44% to the previous day’s close as strong demand from buyers drove the stock to $29.39.
Actively observing the price movement in the last trading, the stock closed the session at $29.26, falling within a range of $28.91 and $30.135. The value of beta (5-year monthly) was 0.707. Referring to stock’s 52-week performance, its high was $45.58, and the low was $24.67. On the whole, IMVT has fluctuated by 0.38% over the past month.
With the market capitalization of Immunovant Inc currently standing at about $4.30 billion, investors are eagerly awaiting this quarter’s results, scheduled for on 2024-Nov-07.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. 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 Hold while long-term indicators on average have been pointing out that it is a Hold.
The stock’s technical analysis shows that the price of IMVT currently trading nearly -0.98% and -1.70% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 47.64, while the 7-day volatility ratio is showing 3.22% which for the 30-day chart, stands at 3.32%. Furthermore, Immunovant Inc (IMVT)’s beta value is 0.71, and its average true range (ATR) is 1.02.
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 0.44% in last session, and over the past year, it shrunk by -12.19%%.
Data on historical trading for Immunovant Inc (NASDAQ:IMVT) indicates that the trading volumes over the past 10 days have averaged 0.51 and over the past 3 months, they’ve averaged 859.72K. According to company’s latest data on outstanding shares, there are 145.58 million shares outstanding.
Nearly 57.61% of Immunovant Inc’s shares belong to company insiders and institutional investors own 50.71% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 12.93 million shares as on 2024-10-15, resulting in a short ratio of 15.84. According to the data, the short interest in Immunovant Inc (IMVT) stood at 2021.00 of shares outstanding as of 2024-10-15; the number of short shares registered in 2024-09-13 reached 12.46 million. The stock has fallen by -30.24% 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.
