Immunovant
Developing imeroprubart across six IgG-driven autoimmune diseases.
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Profile
Develops imeroprubart, a subcutaneous anti-FcRn antibody in clinical studies across six IgG-driven autoimmune diseases. With no approved products or revenue, the business depends on clinical and regulatory progress, HanAll-licensed rights, third-party clinical and manufacturing partners, and Roivant's controlling ownership.
Develops imeroprubart (IMVT-1402), a subcutaneous antibody that blocks FcRn to reduce pathogenic IgG in autoimmune disease. The clinical program spans Graves' disease, difficult-to-treat rheumatoid arthritis, myasthenia gravis, chronic inflammatory demyelinating polyneuropathy, Sjögren's disease, and cutaneous lupus erythematosus.
Runs six studies with the intended commercial formulation and autoinjector. Batoclimab was discontinued after thyroid eye disease studies missed their primary endpoint, concentrating resources and prior trial experience on imeroprubart.
Operates as a single research, development, and manufacturing segment with no approved products or revenue. Progress depends on clinical results and regulatory approval; HanAll licenses core rights across the Americas, Europe, the Middle East, and North Africa, outside partners run trials and manufacturing, and Roivant remains the majority owner.
Company facts
Key statistics
Year to date +59.0% · Average volume (30d) 1.0M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| May 21, 2026 | H.C. Wainwright | Target | $51 | $40 | ||
| Jan 6, 2026 | Wolfe Research | Upgrade | Peer Perform | Outperform | $50 | |
| Dec 18, 2025 | Guggenheim | Target | $48 | $41 | ||
| Oct 14, 2025 | Truist Financial | Target | $16 | |||
| Apr 22, 2025 | UBS | Downgrade | Buy | Neutral |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q1 FY27 | −$0.63 | −$0.75 | −19.3% | $7.1M | $7.1M | 0.0% | +1.17% |
| May 20, 2026Q4 FY26 | −$0.60 | −$0.73 | −21.7% | — | — | — | −4.02% |
| Feb 6, 2026Q3 FY26 | −$0.72 | −$0.61 | +15.3% | $6.0M | — | — | +1.63% |
| Nov 10, 2025Q2 FY26 | −$0.72 | −$0.73 | −1.4% | — | — | — | −2.05% |
Financial highlights
| 12 quarters | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $7.1M | |
| Gross profit | $0 | $0 | −$105.0K | −$101.0K | $0 | $7.1M | |
| Operating income | −$113.8M | −$127.2M | −$131.8M | −$114.4M | −$159.6M | −$153.2M | |
| Net income | −$106.4M | −$120.6M | −$126.5M | −$110.6M | −$147.9M | −$153.2M | |
| Diluted EPS | −$0.64 | −$0.71 | −$0.73 | −$0.61 | −$0.73 | −$0.75 | |
| Gross margin | — | — | — | — | — | 100.0% | |
| Operating margin | — | — | — | — | — | -2,159.7% |
Fiscal years (4-quarter sums)FY22 $0 · FY23 $0 · FY24 $0 · FY25 $0 · FY26 $0
Balance sheet, Jun 30, 2026Cash & short-term investments $797.8M · Total debt $0 · Total assets $852.5M · Shareholders' equity $735.4M
Dividends
No dividends on record.
Ownership
Institutions and insiders are filed separately and overlap, so together they can pass the whole company. No split is drawn from them.
Shares outstanding 206.40M · Float 79.36M · 38.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Roivant Sciences Ltd. · director, 10 percent owner: | 113.32M | 54.90% | Form 4 | Dec 12, 2025 |
| FMR LLC | 16.19M | 7.84% | 13F | Aug 13, 2026 |
| Deep Track Capital, LP | 9.34M | 4.53% | 13F | Aug 14, 2026 |
| BlackRock, Inc. | 7.18M | 3.48% | 13F | Aug 7, 2026 |
| Farallon Capital Management LLC | 5.81M | 2.81% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 28, 2026 | Atul Pande | director | −1,500 | $43.27 |
| Aug 20, 2026 | Melanie Gloria | officer: Chief Operating Officer | −3,056 | $44.16 |
| Jul 23, 2026 | Jay S. Stout | officer: Chief Technology Officer | −2,857 | $38.69 |
| Jul 23, 2026 | Tiago Girao | officer: Chief Financial Officer | −6,798 | $38.69 |
| Jul 24, 2026 | Atul Pande | director | −1,500 | $39.80 |
Peers
- argenx (ADR)
Leading FcRn franchise in gMG, CIDP, Sjogren's, and Graves'
- Johnson & Johnson
Large-pharma FcRn platform spanning gMG and Sjogren's
- Viridian Therapeutics
Next-generation FcRn and thyroid-autoimmunity programs
- Novartis (ADR)
Phase III Sjogren's B-cell program
- Vor Biopharma
Telitacicept rights in gMG, Sjogren's, SLE, and RA
- Amgen
Sjogren's and thyroid-autoimmunity substitute programs
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Immunovant | $40.58 | −1.48% | $8.50B | — | — | 1,198.6 | — |
| argenx (ADR) | $1,023.21 | −0.02% | $63.63B | 37.3 | — | 12.4 | — |
| Johnson & Johnson | $268.40 | +0.13% | $645.95B | 31.1 | 22.4 | 6.6 | +6.6% |
| Viridian Therapeutics | $23.08 | −0.04% | $2.61B | — | — | 36.8 | +278.7% |
| Novartis (ADR) | $153.81 | 0.00% | $292.35B | 23.2 | 16.4 | 5.3 | +0.9% |
| Vor Biopharma | $22.65 | 0.00% | $1.23B | — | — | — | — |
| Amgen | $430.27 | −0.49% | $233.38B | 26.9 | 18.4 | 6.1 | +9.7% |
| Median | 29.0 | 18.4 | 6.6 | +8.1% |