Immunovant, Inc. (NASDAQ:IMVT) Insider Sells $91,782.52 in Stock

Immunovant, Inc. (NASDAQ:IMVT) insider William L. Macias sold 3,188 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $28.79, for a total transaction of $91,782.52. Following the completion of the sale, the insider now directly owns 365,144 shares in the company, valued at approximately $10,512,495.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Immunovant Stock Up 0.7 %

Shares of IMVT traded up $0.21 during trading hours on Friday, reaching $29.47. The company’s stock had a trading volume of 509,951 shares, compared to its average volume of 1,113,215. The firm has a market cap of $4.31 billion, a price-to-earnings ratio of -15.51 and a beta of 0.66. The company has a 50 day moving average of $30.09 and a two-hundred day moving average of $29.00. Immunovant, Inc. has a 1-year low of $24.67 and a 1-year high of $45.58.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.07). During the same period in the previous year, the company posted ($0.57) EPS. As a group, analysts forecast that Immunovant, Inc. will post -2.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in IMVT. Quest Partners LLC raised its position in Immunovant by 216.7% in the second quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock worth $69,000 after purchasing an additional 1,786 shares in the last quarter. EntryPoint Capital LLC grew its stake in shares of Immunovant by 288.8% during the first quarter. EntryPoint Capital LLC now owns 2,912 shares of the company’s stock valued at $94,000 after purchasing an additional 2,163 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Immunovant during the second quarter valued at approximately $77,000. DNB Asset Management AS grew its stake in shares of Immunovant by 10.3% during the second 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 during the last quarter. Finally, Farallon Capital Management LLC acquired a new stake in Immunovant during the 2nd quarter worth $317,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

Wall Street Analyst Weigh In

IMVT has been the topic of several research analyst reports. UBS Group cut their price target on Immunovant from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Oppenheimer upped their price objective on Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. reduced their price target on shares of Immunovant from $51.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. HC Wainwright reissued a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a research note on Monday, September 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunovant in a report on Monday, September 9th. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Immunovant currently has an average rating of “Buy” and an average price target of $48.91.

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.