Immunovant, Inc. (NASDAQ:IMVT) CEO Sells $208,917.61 in Stock

Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann sold 8,767 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $23.83, for a total value of $208,917.61. Following the sale, the chief executive officer now owns 964,225 shares in the company, valued at approximately $22,977,481.75. This represents a 0.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Wednesday, January 8th, Peter Salzmann sold 5,105 shares of Immunovant stock. The shares were sold at an average price of $24.10, for a total transaction of $123,030.50.
• 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 transaction 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 transaction of $424,811.40.

Immunovant Trading Up 0.3 %

Shares of Immunovant stock opened at $23.86 on Monday. Immunovant, Inc. has a 1 year low of $22.41 and a 1 year high of $41.38. The firm has a market capitalization of $3.50 billion, a PE ratio of -10.75 and a beta of 0.66. The firm’s 50 day moving average is $26.39 and its 200 day moving average is $28.48.

Immunovant (NASDAQ:IMVT) last issued its earnings results on Thursday, November 7th. The company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.15). During the same period in the prior year, the business earned ($0.45) earnings per share. As a group, research analysts anticipate that Immunovant, Inc. will post -2.75 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in 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. HC Wainwright reiterated a “buy” rating and issued a $51.00 price target on shares of Immunovant in a research report on Friday, November 8th. Raymond James reissued an “outperform” rating and set a $36.00 price objective on shares of Immunovant in a report on Thursday, October 10th. Wells Fargo & Company lowered their target price on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Wolfe Research cut shares of Immunovant from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. One investment 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 has an average rating of “Moderate Buy” and an average price target of $47.00.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. raised its holdings in Immunovant by 7.4% in the third quarter. Victory Capital Management Inc. now owns 335,360 shares of the company’s stock worth $9,561,000 after purchasing an additional 22,990 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Immunovant by 19.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 552,430 shares of the company’s stock valued at $15,750,000 after buying an additional 91,259 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Immunovant by 69.9% in the 3rd quarter. Principal Financial Group Inc. now owns 951,124 shares of the company’s stock worth $27,117,000 after buying an additional 391,436 shares in the last quarter. Rubric Capital Management LP bought a new position in shares of Immunovant during the 2nd quarter valued at approximately $1,548,000. Finally, State Street Corp raised its holdings in shares of Immunovant by 11.2% in the third 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. Institutional investors 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.