Immunovant, Inc. (NASDAQ:IMVT) CFO Sells $356,072.18 in Stock

Immunovant, Inc. (NASDAQ:IMVT) CFO Eva Renee Barnett sold 12,253 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $29.06, for a total value of $356,072.18. Following the sale, the chief financial officer now directly owns 359,456 shares of the company’s stock, valued at approximately $10,445,791.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Eva Renee Barnett also recently made the following trade(s):

• On Tuesday, April 9th, Eva Renee Barnett sold 3,689 shares of Immunovant stock. The shares were sold at an average price of $31.18, for a total value of $115,023.02.
• On Thursday, February 22nd, Eva Renee Barnett sold 2,930 shares of Immunovant stock. The shares were sold at an average price of $36.15, for a total value of $105,919.50.

Immunovant Stock Down 0.4 %

NASDAQ IMVT traded down $0.10 during trading hours on Friday, hitting $28.22. 1,078,875 shares of the company were exchanged, compared to its average volume of 1,234,374. The stock has a 50-day moving average price of $33.15 and a 200 day moving average price of $36.10. Immunovant, Inc. has a 52 week low of $15.08 and a 52 week high of $45.58. The stock has a market cap of $4.10 billion, a PE ratio of -15.34 and a beta of 0.65.

Immunovant (NASDAQ:IMVT) last released its earnings results on Monday, February 12th. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.07. As a group, sell-side analysts anticipate that Immunovant, Inc. will post -1.7 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC grew its stake in Immunovant by 47.5% in the third quarter. FMR LLC now owns 7,748,546 shares of the company’s stock worth $297,467,000 after purchasing an additional 2,494,678 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Immunovant by 14.0% during the 3rd quarter. Vanguard Group Inc. now owns 6,233,146 shares of the company’s stock valued at $239,290,000 after purchasing an additional 764,530 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Immunovant by 6.7% during the 2nd quarter. BlackRock Inc. now owns 4,201,314 shares of the company’s stock valued at $79,699,000 after purchasing an additional 264,133 shares during the last quarter. State Street Corp lifted its holdings in shares of Immunovant by 27.5% during the 1st quarter. State Street Corp now owns 3,967,605 shares of the company’s stock valued at $61,538,000 after purchasing an additional 854,662 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Immunovant during the 4th quarter valued at $112,356,000. Institutional investors own 47.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on IMVT shares. Cantor Fitzgerald restated an “overweight” rating on shares of Immunovant in a research report on Friday, January 12th. Wolfe Research started coverage on Immunovant in a research report on Thursday, February 15th. They issued an “outperform” rating and a $55.00 price objective on the stock. The Goldman Sachs Group started coverage on Immunovant in a research report on Wednesday, March 13th. They issued a “buy” rating and a $50.00 price objective on the stock. Truist Financial reiterated a “buy” rating and issued a $48.00 target price on shares of Immunovant in a research report on Monday, March 25th. Finally, HC Wainwright boosted their target price on Immunovant from $47.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, December 21st. Seventeen research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $48.00.

Immunovant Company Profile

Immunovant, Inc, a clinical-stage biopharmaceutical company, develops monoclonal antibodies for the treatment of autoimmune diseases. It develops batoclimab, a novel fully human monoclonal antibody that target the neonatal fragment crystallizable receptor for the treatment of myasthenia gravis, thyroid eye disease, chronic inflammatory demyelinating polyneuropathy, and Graves diseases, as well as warm autoimmune hemolytic anemia.