Immunovant, Inc. (NASDAQ:IMVT) Insider Sells $95,938.56 in Stock

Immunovant, Inc. (NASDAQ:IMVT) insider Michael Geffner sold 3,456 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $27.76, for a total transaction of $95,938.56. Following the completion of the transaction, the insider now directly owns 138,160 shares of the company’s stock, valued at $3,835,321.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Immunovant Stock Performance

Shares of NASDAQ:IMVT traded up $1.30 during trading on Friday, reaching $29.10. 900,303 shares of the stock traded hands, compared to its average volume of 1,198,469. The stock has a 50-day moving average of $27.62 and a two-hundred day moving average of $31.69. Immunovant, Inc. has a 52-week low of $18.82 and a 52-week high of $45.58. The stock has a market cap of $4.25 billion, a P/E ratio of -14.98 and a beta of 0.67.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings results on Wednesday, May 29th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.08). During the same quarter in the previous year, the firm posted ($0.46) EPS. Sell-side analysts expect that Immunovant, Inc. will post -2.11 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on IMVT. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunovant in a research note on Tuesday, June 18th. HC Wainwright reissued a “buy” rating and issued a $51.00 price target on shares of Immunovant in a research note on Thursday, May 30th. Finally, Oppenheimer decreased their price target on shares of Immunovant from $50.00 to $46.00 and set an “outperform” rating for the company in a research note on Monday, June 3rd. Fifteen analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $49.73.

Institutional Investors Weigh In On Immunovant

A number of large investors have recently added to or reduced their stakes in IMVT. Vanguard Group Inc. grew its position in Immunovant by 14.0% in the 3rd quarter. Vanguard Group Inc. now owns 6,233,146 shares of the company’s stock worth $239,290,000 after purchasing an additional 764,530 shares during the period. CoreCap Advisors LLC boosted its stake in shares of Immunovant by 11.2% during the 4th quarter. CoreCap Advisors LLC now owns 6,407 shares of the company’s stock worth $270,000 after acquiring an additional 647 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Immunovant during the 4th quarter worth $5,109,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Immunovant by 398.0% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 16,734 shares of the company’s stock worth $705,000 after acquiring an additional 13,374 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Immunovant by 590.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 42,865 shares of the company’s stock worth $1,806,000 after acquiring an additional 36,659 shares during the last quarter. Institutional investors own 47.08% of the company’s stock.

About Immunovant

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.