Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann Sells 5,105 Shares

Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann sold 5,105 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $24.10, for a total transaction of $123,030.50. Following the sale, the chief executive officer now directly owns 972,992 shares of the company’s stock, valued at approximately $23,449,107.20. The trade was a 0.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, November 20th, Peter Salzmann sold 16,692 shares of Immunovant stock. The stock was sold at an average price of $25.45, for a total value of $424,811.40.
• On Wednesday, November 20th, Peter Salzmann sold 16,692 shares of Immunovant stock. The shares were sold at an average price of $25.45, for a total value of $424,811.40.
• On Wednesday, October 16th, Peter Salzmann sold 9,095 shares of Immunovant stock. The stock was sold at an average price of $28.79, for a total value of $261,845.05.

Immunovant Stock Down 0.6 %

IMVT stock opened at $23.48 on Friday. Immunovant, Inc. has a twelve month low of $23.08 and a twelve month high of $43.92. The company has a market cap of $3.45 billion, a P/E ratio of -10.58 and a beta of 0.66. The business’s fifty day moving average is $27.07 and its 200-day moving average is $28.58.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.15). During the same quarter in the prior year, the company earned ($0.45) earnings per share. Research analysts anticipate that Immunovant, Inc. will post -2.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

IMVT has been the topic of several research reports. Raymond James reiterated an “outperform” rating and set a $36.00 price target on shares of Immunovant in a research report on Thursday, October 10th. Wells Fargo & Company decreased their price target on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Wolfe Research cut shares of Immunovant from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Oppenheimer increased their price objective on Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Finally, HC Wainwright reissued a “buy” rating and issued a $51.00 target price on shares of Immunovant in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Immunovant currently has an average rating of “Moderate Buy” and an average price target of $47.22.

Hedge Funds Weigh In On Immunovant

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC grew its stake in Immunovant by 19.6% in the third quarter. FMR LLC now owns 12,537,571 shares of the company’s stock valued at $357,446,000 after acquiring an additional 2,053,688 shares during the period. Armistice Capital LLC increased its stake in Immunovant by 57.0% during the 2nd quarter. Armistice Capital LLC now owns 3,396,909 shares of the company’s stock worth $89,678,000 after purchasing an additional 1,232,909 shares in the last quarter. State Street Corp raised its holdings in Immunovant by 11.2% during the 3rd quarter. State Street Corp now owns 3,022,342 shares of the company’s stock worth $86,167,000 after buying an additional 303,386 shares during the period. Geode Capital Management LLC lifted its stake in Immunovant by 6.9% in the third quarter. Geode Capital Management LLC now owns 1,510,926 shares of the company’s stock valued at $43,085,000 after buying an additional 96,924 shares in the last quarter. Finally, Baker BROS. Advisors LP boosted its holdings in shares of Immunovant by 163.7% in the third quarter. Baker BROS. Advisors LP now owns 1,225,410 shares of the company’s stock valued at $34,936,000 after buying an additional 760,692 shares during the period. Institutional investors and hedge funds own 47.08% of the company’s stock.

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.