Immunovant, Inc. research snapshot
IMVT AI stock analysis as of the August 3, 2026 data cutoff reads Immunovant as a clinical-stage immunology company with a promising IMVT-1402 platform, a solid cash position, and no approved product revenue. The stock closed at $38.62 on July 31, 2026, with a market capitalization near $7.97 billion, re-verified during this full refresh as $38.62 times 206.41 million shares outstanding, matching the StockAnalysis.com quote and statistics pages and the July 22, 2026 proxy statement, which lists 206,412,338 shares of common stock and Series A preferred stock outstanding as of the July 8, 2026 record date. FY2026 revenue was $0, net loss widened to $505.6 million, operating cash use was $407.3 million, and cash was $902.1 million at March 31, 2026, providing runway to the potential commercial launch of IMVT-1402 in Graves disease (GD). The May 20, 2026 corporate update reported Week 16 response rates of 72.7% ACR20, 54.5% ACR50, and 35.8% ACR70 in the open-label period of the difficult-to-treat rheumatoid arthritis (D2T RA) trial, and the cutaneous lupus erythematosus (CLE) proof-of-concept trial is fully enrolled with topline data expected in the second half of 2026. The stock rallied roughly 26% to 34% on the May 20 report and then cooled into the $38.62 close on July 31, below its 20-day average near $39.47 but still above its 50-day, 100-day, and 200-day moving averages of roughly $36.56, $31.47, and $28.06, with 14-day RSI near 51. The failed batoclimab thyroid eye disease studies, dependence on IMVT-1402, an annual cash burn near $407 million, likely future dilution, competition from other FcRn therapies, and a valuation near 9.2x to 9.4x book value where book value is mostly cash that will be consumed keep investment certainty low. This page is informational research only and is not investment advice.
Current price
$38.62
Market cap
$7.97 billion
AI score
52 / 100
Rating
Promising pipeline evidence but a pre-revenue, single-asset story priced for future success
Trend status
Above the 50-day, 100-day, and 200-day averages but below the 20-day average after the May 2026 run-up cooled
Data cutoff (updated monthly)
August 4, 2026
Informational use only. This page is not investment advice.
| Dimension | Conclusion | Confidence |
|---|---|---|
| Business quality | Immunovant has a focused anti-FcRn platform and several large autoimmune indications, but the business has not yet demonstrated product revenue or commercial execution, and FY2026 revenue was $0. | Medium |
| Moat | Potential advantages include clinical data, FcRn expertise, patents, regulatory know-how, manufacturing relationships, and Roivant scale. The moat is unproven and depends on approval, differentiation, and rights licensed from HanAll. | Medium-low |
| Management | Eric Venker, M.D., Pharm.D., combines clinical and operating experience and also serves as Roivant president. Roivant held 113,327,007 shares, about 54.9%, as of June 30, 2026 per the July 22, 2026 proxy, which improves strategic and capital support but creates controlled-company governance risk. | Medium-high |
| Financial trend | FY2026 net loss widened to $505.6 million and operating cash use reached $407.3 million. Cash increased to $902.1 million after financing, but the company remains pre-revenue and cash-burning at a material annual rate. | High for reported data |
| Valuation | At about $7.97 billion of market value, roughly 9.2x to 9.4x book value, and no meaningful PE or PS ratio, the price depends on future clinical and commercial value rather than current earnings. Net cash of about $4.37 per share is the main tangible asset. | High for valuation limits |
| Technical trend | The stock closed at $38.62 on July 31, 2026, above its 50-day average of $36.56, 100-day average of $31.47, and 200-day average of $28.06, but below its 20-day average of $39.47, with 14-day RSI near 51 and 14-day ADX near 25. | Medium-high |
| Risk level | Risk is high because a single lead asset drives the thesis, clinical and regulatory outcomes are uncertain, cash burn is material, the stock can gap on binary data events, and equity financing can dilute holders. | High |
| AI confidence | Confidence is strongest for historical filings, cash, losses, share count, trial milestones, technical inputs, and analyst targets. It is low for future returns and approval probabilities because no registrational data or commercial evidence exists. | Medium-high for facts |
| Investment certainty | Investment certainty is low. The platform may create substantial value if IMVT-1402 succeeds, but the current price already discounts meaningful future progress and the margin of safety beyond cash is thin. | Low |
IMVT AI stock forecast
The IMVT AI stock forecast uses conditional price bands tied to clinical, regulatory, and financing catalysts, not a fixed price target. A PE or DCF model is not decision-useful while revenue is zero and EPS is negative, so the ranges are calibrated to the $38.62 July 31, 2026 close, the $24 to $66 range of analyst targets, the $4.37 per share net cash position, and the probability that IMVT-1402 reaches or fails to reach registration. These are research ranges, not promises or personalized recommendations.
$55 to $70
More likely if the D2T RA program confirms its early signal in randomized data, the CLE proof-of-concept topline is constructive in the second half of 2026, the potentially registrational GD and MG trials stay on track for 2027 topline data, IMVT-1402 reaches a credible launch path in GD with useful pricing and reimbursement, and financing stays manageable. The high analyst target near $66 and targets near $61 to $62 are consistent with this case.
$30 to $50
More likely if the pipeline advances but approval timing stays uncertain, cash funds the next milestones without severe dilution, operating losses continue near the $505.6 million FY2026 pace, and investors value Immunovant on probability-adjusted pipeline progress rather than current earnings. The average analyst target of $46.88 and the J.P. Morgan and BofA targets near $43 to $47 sit in this band.
$15 to $24
More likely if randomized or registrational data disappoint, regulators delay or reject an indication, safety or immunogenicity limits dosing, physicians prefer competing FcRn therapies, pricing or reimbursement is weak, or cash needs force unfavorable financing and dilution. The low analyst target near $24 and the Truist Hold target near $30 define the top of this band.
IMVT AI technical analysis
IMVT AI technical analysis uses the $38.62 July 31, 2026 close and the August 3, 2026 research cutoff. The stock is above its 50-day, 100-day, and 200-day moving averages but below its 20-day average near $39.47 after the May 2026 run-up cooled, with 14-day RSI near 51 and 14-day ADX near 25. This static page does not fetch live market data, so confirm every level on a current chart before acting.
| Level | Value | Why it matters |
|---|---|---|
| Current price | $38.62 | StockAnalysis.com real-time quote at the July 31, 2026 close, used for the August 3, 2026 research cutoff. Market cap math uses 206.41 million shares outstanding. |
| 20-day moving average | $39.47 | Barchart and StockAnalysis.com both placed the 20-day average near $39.47 as of July 31, 2026, slightly above the close, which signals the short-term move cooled. |
| Near support | $36 to $37 | The 50-day moving average was near $36.56 on July 31, 2026, a natural first pullback support zone. A failed hold here would weaken the near-term uptrend. |
| Secondary support | $31 to $32 | The 100-day moving average was near $31.47 on July 31, 2026, below the 50-day and a deeper planning level. |
| 200-day moving average | $28.06 | Barchart and StockAnalysis.com both reported the 200-day trend line near $28.06, well below price and confirming the medium-term uptrend. |
| Near resistance | $39.50 to $41.23 | The immediate upside is capped by the 52-week high of $41.23, with the 20-day average near $39.47 as minor overhead. |
| Momentum | RSI near 51, ADX near 25 | 14-day RSI was near 51.30 on both StockAnalysis.com and Barchart as of July 31, 2026, neutral after the earlier overbought reading near 74, and 14-day ADX near 24.63 showed a moderate trend. |
| Volume | About 988,000 average shares | Barchart listed 20-day average volume near 988,495 shares and StockAnalysis.com near 987,597 on July 31, 2026, useful for checking breakout quality. |
| Volatility | 14-day near 30%, 50-day near 78% | Barchart reported 14-day historical volatility near 30.1% and 50-day near 77.7%, so position sizing should account for event-driven gaps around clinical and earnings news. |
| Short interest | 17.76 million shares, 8.60% of shares outstanding | Short interest of 17.76 million shares, 22.26% of float, and 11.24 days to cover can add squeeze risk around positive catalysts and extend down moves after negative news. |
| Invalidation levels | Close below $36.56, then $31.47 | A close below the 50-day average near $36.56 would weaken the near-term uptrend. A break below the 100-day average near $31.47 challenges the medium-term trend and should trigger a thesis review. |
IMVT AI trading strategy
The IMVT AI trading strategy is a rules-based research framework, not personalized advice. It combines price confirmation with trial data, regulatory timing, cash use, financing, and share count because technical signals alone can fail around biotech catalysts.
Treat a sustained close above the 52-week high of $41.23 as technically stronger only if volume expands and there is no negative change in the IMVT-1402 clinical or regulatory thesis.
A failed breakout or close below the 50-day average near $36.56 reduces confidence. A close below the 100-day average near $31.47 is a stricter trend invalidation signal.
A pullback toward the $36 to $37 support zone around the 50-day average can be studied only if upcoming data, cash runway, and trial execution remain intact. Compare price stabilization with the August 6, 2026 fiscal Q1 update before drawing a conclusion.
Do not average down solely because the stock is below a recent high. Reassess the clinical probability, financing terms, and maximum acceptable loss first.
Track the August 6, 2026 fiscal Q1 results, D2T RA updates and CLE topline data expected in the second half of 2026, GD and MG data expected in 2027, cash use, new financing, share count, regulatory feedback, and competitor FcRn data.
Binary events can gap through any stop. Use position sizing and event exposure limits that match the possibility of a rapid loss.
Investment research summary
Immunovant is developing IMVT-1402, an anti-FcRn antibody intended to reduce pathogenic IgG activity across autoimmune diseases including Graves disease, rheumatoid arthritis, myasthenia gravis, CIDP, and Sjogrens disease. Customers would ultimately pay for a safe, effective, convenient therapy, but that value is not yet reflected in product revenue because no candidate has received marketing approval.
The possible moat combines FcRn biology, clinical evidence, patents, trial execution, regulatory learning, manufacturing relationships, and Roivant infrastructure. The company licenses core rights from HanAll, and competitors such as argenx, UCB, and Johnson and Johnson pursue the same or related mechanisms, so the moat remains conditional rather than established.
The thesis can fail if randomized data do not reproduce the open-label D2T RA signal, safety or immunogenicity limits dosing, regulators require more studies, physicians prefer competing FcRn therapies, commercial pricing is weak, cash burn forces dilution before a value inflection, or the batoclimab thyroid eye disease failure pattern repeats for IMVT-1402.
CEO Eric Venker, M.D., Pharm.D., also serves as Roivant president, and Roivant held 113,327,007 shares, about 54.9%, as of June 30, 2026 per the July 22, 2026 proxy. Roivant participation in the December 2025 financing and the decision to discontinue batoclimab and focus on IMVT-1402 reflect deliberate capital and pipeline choices, while the controlled-company structure creates minority-holder governance risk.
Autoimmune disease treatment is a durable medical trend with large unmet need, and FcRn inhibition is a validated therapeutic approach with approved products from argenx and UCB. The opportunity is crowded, approval is indication-specific, and the eventual market depends on clinical differentiation, reimbursement, administration burden, and safety.
At a market capitalization of about $7.97 billion against zero revenue, a $505.6 million FY2026 net loss, negative free cash flow, and $902.1 million of cash, the price implies substantial future success. Net cash of about $4.37 per share and book value near $4.18 per share mean the 9.2x to 9.4x price-to-book multiple mainly prices future pipeline value rather than existing assets, so there is no current margin of safety beyond cash.
Source-backed data
Every metric below includes a source and last verification date.
| Metric | Value | Source | Last verified |
|---|---|---|---|
| IMVT price | $38.62 at the July 31, 2026 close | StockAnalysis.com real-time quote | August 3, 2026 |
| Market capitalization | $7.97 billion, computed as $38.62 x 206.41 million shares outstanding; financial_rigor.py verified 0.02% deviation against the StockAnalysis.com $7.97 billion figure | StockAnalysis.com quote and share statistics | August 3, 2026 |
| Shares outstanding | 206,412,338 shares of common stock and Series A preferred stock as of the July 8, 2026 record date; 203,940,353 shares of common stock at March 31, 2026; StockAnalysis.com lists 206.40 million | Immunovant DEF 14A filed July 22, 2026 and FY2026 Form 10-K | August 3, 2026 |
| FY2026 revenue | $0; the company has not generated revenue to date | Immunovant FY2026 Form 10-K and StockAnalysis.com | August 3, 2026 |
| FY2026 net loss and R&D expense | $505.6 million net loss, or $2.77 per share, and $456.7 million of GAAP R&D expense; non-GAAP net loss of $449.9 million | Immunovant Q4 FY2026 earnings release and FY2026 Form 10-K | August 3, 2026 |
| Cash and balance sheet | $902.1 million cash and cash equivalents at March 31, 2026, matching SEC EDGAR XBRL (902110000); total assets $957.0 million, total liabilities $104.4 million, total equity $852.6 million | Immunovant FY2026 Form 10-K and SEC EDGAR XBRL | August 3, 2026 |
| Operating cash use and free cash flow | $407.3 million operating cash use and about $407.3 million negative free cash flow in FY2026; the FY2026 Form 10-K cash flow statement reports $407,310 thousand used in operating activities | Immunovant FY2026 Form 10-K and StockAnalysis.com | August 3, 2026 |
| Cash runway | Cash provides runway for announced indications through the potential commercial launch of IMVT-1402 in Graves disease | Immunovant Q4 FY2026 earnings release | May 20, 2026 |
| IMVT-1402 D2T RA signal | Week 16 response rates of 72.7% ACR20, 54.5% ACR50, and 35.8% ACR70 in the open-label period; 165 of 170 participants evaluable; 86.7% failed two or more prior advanced therapy mechanisms; JAK and anti-TNF failures subset N=107 showed 72.0% ACR20 | Immunovant Q4 FY2026 earnings release | May 20, 2026 |
| 2026 and 2027 milestones | CLE proof-of-concept trial fully enrolled with topline data expected in the second half of 2026; further D2T RA updates expected in the second half of 2026; topline data expected in 2027 across potentially registrational IMVT-1402 trials in GD and MG | Immunovant Q4 FY2026 earnings release | May 20, 2026 |
| Batoclimab TED outcome | Both Phase 3 thyroid eye disease studies missed the primary endpoint; development was discontinued across all indications; Q4 FY2026 R&D included $39.0 million of contractual costs related to the discontinuation | Immunovant April 2, 2026 and May 20, 2026 press releases | May 20, 2026 |
| Next earnings date | Fiscal Q1 ended June 30, 2026 results on Thursday, August 6, 2026, before market open, with a Roivant-hosted call at 8:00 a.m. ET | Immunovant press release July 23, 2026 and StockAnalysis.com | July 23, 2026 |
| Roivant control | Roivant Sciences Ltd. held 113,327,007 shares, about 54.9%, as of June 30, 2026 per the July 22, 2026 proxy statement; FMR LLC held 14,729,555 shares, about 7.1% | Immunovant DEF 14A filed July 22, 2026 | August 3, 2026 |
| Five-year financial trend | Net loss of $156.7 million, $211.0 million, $259.3 million, $413.8 million, and $505.6 million for FY2022 through FY2026; cash and investments of $493.8 million, $376.5 million, $635.4 million, $714.0 million, and $902.1 million | StockAnalysis.com financials and SEC EDGAR XBRL | August 3, 2026 |
| Technical inputs | 5-day MA $39.14, 20-day MA $39.47, 50-day MA $36.56, 100-day MA $31.47, 200-day MA $28.06, 14-day RSI 51.30, 14-day ADX 24.63, 20-day average volume near 988,000 | Barchart and StockAnalysis.com technical snapshots | August 3, 2026 |
| Volatility and short interest | 14-day historical volatility near 30.1% and 50-day near 77.7%; short interest of 17.76 million shares, 8.60% of shares outstanding, 22.26% of float, and 11.24 days to cover | Barchart and StockAnalysis.com statistics | August 3, 2026 |
| Valuation ratios | PB 9.24x, P/TBV 9.35x, net cash of $902.0 million or $4.37 per share, ROE negative 64.82%; PE, PS, EV/EBITDA, and FCF multiples are not meaningful with no revenue and negative earnings | StockAnalysis.com statistics | August 3, 2026 |
| 52-week price change | 52-week range $14.32 to $41.23, price up about 132.37% over 52 weeks and up about 51.93% year to date | StockAnalysis.com quote and Barchart | August 3, 2026 |
| Analyst consensus | Buy with an average target of $46.88 across 17 analysts, median $47, low $24 and high $66; the July 2026 recommendation trend shows 11 Strong Buy, 2 Buy, and 3 Hold | StockAnalysis.com forecast and analyst ratings | August 3, 2026 |
| Recent analyst target updates | LifeSci Capital reiterated $53 on July 9, Citi raised to $61 from $57 on June 30, Piper Sandler maintained $66 on May 29, J.P. Morgan raised to $47 from $35 on May 26, Guggenheim raised to $62 from $44 on May 26, Truist raised to $30 from $23 with a Hold, BofA raised to $43 from $32, and H.C. Wainwright raised to $40 from $35 | StockAnalysis.com forecast | August 3, 2026 |
| Consensus estimates | FY2027 adjusted EPS estimate of negative $2.53 with a range of negative $1.75 to negative $2.94, FY2028 adjusted EPS of negative $2.13, and FY2027 revenue estimate of $36.61 million | StockAnalysis.com forecast | August 3, 2026 |
This IMVT AI stock analysis page is an informational research tool only. It is not investment advice, financial advice, tax advice, a recommendation, or a promise of future returns. Forecast ranges are scenarios based on public filings, quote snapshots, technical data, clinical updates, and third-party sources reviewed through August 3, 2026. They may be wrong, incomplete, or outdated after new earnings, clinical data, regulatory decisions, financing, market moves, or macro conditions.
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