Immunovant, Inc. (IMVT) stock plummeted 5.10% in the intraday trading session on Monday, following the release of the company's disappointing earnings report for the quarter ended December 31, 2024.
According to the report, Immunovant posted a larger quarterly adjusted loss of $0.76 per share, missing analysts' expectations of a $0.75 loss per share. The company's reported net loss for the quarter widened to $111.12 million, compared to a net loss of $36 million in the same period last year.
Despite reporting zero revenue, in line with expectations, the wider-than-anticipated losses and downward revisions in analysts' earnings estimates seem to have weighed on investor sentiment, driving the stock price lower. However, most analysts maintain a "buy" rating on the stock, with a median 12-month price target of $51.00.
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