Immunovant, Inc. (NASDAQ:IMVT) CFO Sells $54,761.34 in Stock

Immunovant, Inc. (NASDAQ:IMVT) CFO Eva Renee Barnett sold 2,298 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $23.83, for a total transaction of $54,761.34. Following the sale, the chief financial officer now directly owns 324,766 shares in the company, valued at $7,739,173.78. This trade represents a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, January 8th, Eva Renee Barnett sold 4,105 shares of Immunovant stock. The stock was sold at an average price of $24.10, for a total value of $98,930.50.
• On Wednesday, November 20th, Eva Renee Barnett sold 4,174 shares of Immunovant stock. The shares were sold at an average price of $25.45, for a total value of $106,228.30.
• On Wednesday, November 20th, Eva Renee Barnett sold 4,174 shares of Immunovant stock. The stock was sold at an average price of $25.45, for a total value of $106,228.30.

Immunovant Price Performance

NASDAQ:IMVT opened at $23.86 on Monday. The business’s 50-day simple moving average is $26.39 and its 200-day simple moving average is $28.48. Immunovant, Inc. has a fifty-two week low of $22.41 and a fifty-two week high of $41.38. The stock has a market capitalization of $3.50 billion, a PE ratio of -10.75 and a beta of 0.66.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.15). During the same quarter in the prior year, the business posted ($0.45) EPS. On average, research analysts expect that Immunovant, Inc. will post -2.75 earnings per share for the current year.

Hedge Funds Weigh In On Immunovant

Large investors have recently added to or reduced their stakes in the company. KBC Group NV lifted its holdings in shares of Immunovant by 46.2% in the third quarter. KBC Group NV now owns 1,936 shares of the company’s stock valued at $55,000 after purchasing an additional 612 shares in the last quarter. Assetmark Inc. lifted its stake in Immunovant by 73.8% in the 3rd quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock valued at $82,000 after acquiring an additional 1,228 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Immunovant by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock worth $148,000 after acquiring an additional 934 shares during the last quarter. Bank Pictet & Cie Europe AG bought a new position in shares of Immunovant during the 3rd quarter worth approximately $261,000. Finally, Farallon Capital Management LLC bought a new stake in shares of Immunovant in the second quarter worth $317,000. Institutional investors own 47.08% of the company’s stock.

Wall Street Analyst Weigh In

IMVT has been the subject of a number of recent research reports. Wells Fargo & Company dropped their price target on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Oppenheimer upped their target price on shares of Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Wolfe Research lowered Immunovant from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Bank of America dropped their price objective on Immunovant from $48.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. Finally, Raymond James restated an “outperform” rating and set a $36.00 target price on shares of Immunovant in a report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.00.

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.