Immunovant, Inc. (NASDAQ:IMVT) CFO Eva Renee Barnett Sells 3,271 Shares

Immunovant, Inc. (NASDAQ:IMVT) CFO Eva Renee Barnett sold 3,271 shares of Immunovant stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $28.79, for a total transaction of $94,172.09. Following the completion of the transaction, the chief financial officer now owns 335,343 shares in the company, valued at approximately $9,654,524.97. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Wednesday, October 9th, Eva Renee Barnett sold 5,162 shares of Immunovant stock. The stock was sold at an average price of $29.56, for a total value of $152,588.72.

Immunovant Stock Up 0.7 %

Shares of NASDAQ IMVT opened at $29.47 on Friday. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of -15.51 and a beta of 0.66. Immunovant, Inc. has a 52 week low of $24.67 and a 52 week high of $45.58. The firm has a 50-day moving average price of $30.09 and a 200 day moving average price of $28.98.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings results 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 quarter in the prior year, the business posted ($0.57) EPS. Equities research analysts expect that Immunovant, Inc. will post -2.43 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the company. Oppenheimer upped their price objective on Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Raymond James reaffirmed an “outperform” rating and set a $36.00 price target on shares of Immunovant in a report on Thursday, October 10th. HC Wainwright reiterated a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a research report on Monday, September 30th. JPMorgan Chase & Co. cut their price objective 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. Finally, UBS Group reduced their target price on shares of Immunovant from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Immunovant currently has a consensus rating of “Buy” and a consensus target price of $48.91.

Institutional Trading of Immunovant

A number of institutional investors have recently bought and sold shares of the company. Exchange Traded Concepts LLC lifted its holdings in Immunovant by 53.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 27,122 shares of the company’s stock valued at $773,000 after purchasing an additional 9,438 shares in the last quarter. Handelsbanken Fonder AB increased its position in Immunovant by 29.0% during the third quarter. Handelsbanken Fonder AB now owns 20,900 shares of the company’s stock worth $596,000 after purchasing an additional 4,700 shares during the last quarter. Algert Global LLC raised its stake in Immunovant by 134.1% during the second quarter. Algert Global LLC now owns 120,938 shares of the company’s stock worth $3,193,000 after purchasing an additional 69,278 shares during the period. Scientech Research LLC acquired a new position in shares of Immunovant in the 2nd quarter valued at $334,000. Finally, Armistice Capital LLC grew its stake in shares of Immunovant by 57.0% during the 2nd quarter. Armistice Capital LLC now owns 3,396,909 shares of the company’s stock valued at $89,678,000 after buying an additional 1,232,909 shares during the period. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

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.