Yahoo Finance Immunovant (IMVT) Down 1.6% Since Last Earnings Report: Can It Rebound?
A month has gone by since the last earnings report for Immunovant, Inc. (IMVT). Shares have lost about 1.6% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Immunovant due for a breakout? 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 Earnings Miss Estimates, Pipeline in Focus
Immunovantreported fourth-quarter fiscal 2024 net loss of 52 cents per share, wider than the Zacks Consensus Estimate of a loss of 43 cents. The reported figure is also wider than the year-ago quarter's loss of 46 cents per share.
Currently, Immunovant does not have any approved product in its portfolio. As a result, it has yet to generate revenues.
Quarter in Detail
Research and development (R&D) expenses totaled $66.1 million, up 27% from the year-ago quarter’s reported figure. The year-over-year rise can be attributed to increased operational costs and R&D activities for IMVT-1402 and batoclimab programs.
General and administrative expenses amounted to $14.8 million, up 19% on a year-over-year basis. The rise was primarily due to an increase in personnel-related expenses and legal and other professional fees.
As of Mar 31, 2024, Immunovant had a cash balance of $635 million compared with $691 million as of Dec 31, 2023.
Fiscal FY24 Result
Immunovant reported a loss of $1.88 per share for fiscal 2024, wider than the Zacks Consensus Estimate of a loss of $1.78 per share. The company incurred a loss of $1.71 per share in the previous year.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates have trended downward during the past month.
The consensus estimate has shifted -12.69% due to these changes.
VGM Scores
At 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 grade of D on the value side, putting it in the bottom 40% for this investment strategy.
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.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise Immunovant has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.
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Immunovant, Inc. (IMVT): Free Stock Analysis Report
