Peter Salzmann Sells 9,095 Shares of Immunovant, Inc. (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann sold 9,095 shares of Immunovant stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $28.79, for a total value of $261,845.05. Following the completion of the transaction, the chief executive officer now directly owns 994,789 shares of the company’s stock, valued at approximately $28,639,975.31. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Peter Salzmann also recently made the following trade(s):

• On Wednesday, October 9th, Peter Salzmann sold 4,460 shares of Immunovant stock. The stock was sold at an average price of $29.56, for a total value of $131,837.60.

Immunovant Stock Up 0.7 %

Shares of Immunovant stock traded up $0.21 during trading hours on Friday, reaching $29.47. 509,951 shares of the stock traded hands, compared to its average volume of 1,113,215. The company has a 50 day moving average price of $30.09 and a 200 day moving average price of $29.00. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of -15.40 and a beta of 0.66. Immunovant, Inc. has a one year low of $24.67 and a one year high of $45.58.

Immunovant (NASDAQ:IMVT) last released 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 last year, the company posted ($0.57) earnings per share. Sell-side analysts anticipate that Immunovant, Inc. will post -2.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IMVT has been the subject of several recent analyst reports. Raymond James reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Immunovant in a research report on Thursday, October 10th. UBS Group lowered their price target on Immunovant from $42.00 to $41.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a research report on Monday, September 9th. JPMorgan Chase & Co. decreased their target price on Immunovant from $51.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Finally, HC Wainwright reissued a “buy” rating and issued a $51.00 target price on shares of Immunovant in a research report on Monday, September 30th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $48.91.

Institutional Investors Weigh In On Immunovant

A number of large investors have recently made changes to their positions in IMVT. Vanguard Group Inc. grew its stake in shares of Immunovant by 11.2% during the 1st quarter. Vanguard Group Inc. now owns 6,478,304 shares of the company’s stock valued at $209,314,000 after acquiring an additional 650,506 shares during the period. 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 acquiring an additional 1,232,909 shares during the period. Alpine Global Management LLC grew its stake in shares of Immunovant by 34.6% during the 1st quarter. Alpine Global Management LLC now owns 1,882,704 shares of the company’s stock valued at $60,830,000 after acquiring an additional 484,332 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Immunovant by 16.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,862,043 shares of the company’s stock valued at $60,163,000 after acquiring an additional 259,481 shares during the period. Finally, First Turn Management LLC grew its stake in shares of Immunovant by 35.6% during the 2nd quarter. First Turn Management LLC now owns 695,428 shares of the company’s stock valued at $18,359,000 after acquiring an additional 182,535 shares during the period. 47.08% of the stock is currently owned by institutional investors.

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.