Immunovant, Inc. (NASDAQ:IMVT) CTO Jay S. Stout Sells 2,740 Shares

Immunovant, Inc. (NASDAQ:IMVT) CTO Jay S. Stout sold 2,740 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $29.53, for a total value of $80,912.20. Following the transaction, the chief technology officer now directly owns 142,186 shares of the company’s stock, valued at $4,198,752.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Immunovant Trading Down 0.9 %

NASDAQ IMVT traded down $0.28 during trading hours on Friday, reaching $30.22. 315,939 shares of the company’s stock were exchanged, compared to its average volume of 1,098,927. The stock has a market cap of $4.42 billion, a PE ratio of -15.91 and a beta of 0.66. Immunovant, Inc. has a one year low of $24.67 and a one year high of $45.58. The firm has a fifty day moving average of $30.07 and a 200-day moving average of $28.95.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Immunovant in a research note on Monday, September 9th. HC Wainwright restated a “buy” rating and set a $51.00 price target on shares of Immunovant in a research note on Monday, September 30th. JPMorgan Chase & Co. lowered their price target on Immunovant from $51.00 to $46.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Raymond James restated an “outperform” rating and set a $36.00 price target on shares of Immunovant in a research note on Thursday, October 10th. Finally, 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. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $48.10.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings 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 buying an additional 934 shares in the last quarter. DNB Asset Management AS lifted its holdings in Immunovant by 10.3% during the 2nd quarter. DNB Asset Management AS now owns 10,290 shares of the company’s stock worth $271,000 after buying an additional 958 shares in the last quarter. Bamco Inc. NY lifted its stake in shares of Immunovant by 1.7% in the 1st quarter. Bamco Inc. NY now owns 60,000 shares of the company’s stock valued at $1,939,000 after purchasing an additional 1,000 shares during the period. ProShare Advisors LLC lifted its stake in shares of Immunovant by 9.4% in the 1st quarter. ProShare Advisors LLC now owns 19,877 shares of the company’s stock valued at $642,000 after purchasing an additional 1,703 shares during the period. Finally, Quest Partners LLC lifted its stake in shares of Immunovant by 216.7% in the 2nd quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock valued at $69,000 after purchasing an additional 1,786 shares during the period. 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.