Insider Selling: Immunovant, Inc. (NASDAQ:IMVT) CTO Sells 2,813 Shares of Stock

Immunovant, Inc. (NASDAQ:IMVT) CTO Jay S. Stout sold 2,813 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $27.76, for a total transaction of $78,088.88. Following the completion of the transaction, the chief technology officer now owns 144,926 shares of the company’s stock, valued at approximately $4,023,145.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Immunovant Price Performance

IMVT opened at $29.10 on Monday. Immunovant, Inc. has a 12 month low of $18.82 and a 12 month high of $45.58. The stock has a market capitalization of $4.25 billion, a P/E ratio of -15.32 and a beta of 0.67. The business has a 50 day simple moving average of $27.59 and a 200-day simple moving average of $31.43.

Immunovant (NASDAQ:IMVT) last released its 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 prior year, the business earned ($0.46) earnings per share. Research analysts anticipate that Immunovant, Inc. will post -2.11 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on IMVT shares. Oppenheimer reduced their target price on Immunovant from $50.00 to $46.00 and set an “outperform” rating for the company in a report on Monday, June 3rd. Cantor Fitzgerald restated an “overweight” rating on shares of Immunovant in a research report on Tuesday, June 18th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $51.00 target price on shares of Immunovant in a report on Thursday, May 30th. Fifteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $49.73.

Institutional Trading of Immunovant

Several hedge funds and other institutional investors have recently made changes to their positions in IMVT. Headlands Technologies LLC acquired a new position in Immunovant during the fourth quarter worth about $27,000. 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Immunovant by 10.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,370 shares of the company’s stock worth $437,000 after acquiring an additional 951 shares during the period. DNB Asset Management AS increased its stake in Immunovant by 10.3% in the 2nd quarter. DNB Asset Management AS now owns 10,290 shares of the company’s stock valued at $271,000 after purchasing an additional 958 shares in the last quarter. Finally, Bamco Inc. NY raised its holdings in Immunovant by 1.7% during the first quarter. Bamco Inc. NY now owns 60,000 shares of the company’s stock worth $1,939,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds 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.