Immunovant, Inc. (NASDAQ:IMVT) CTO Sells $209,207.10 in Stock

Immunovant, Inc. (NASDAQ:IMVT) CTO Jay S. Stout sold 7,239 shares of the stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $28.90, for a total transaction of $209,207.10. Following the completion of the sale, the chief technology officer now directly owns 147,739 shares of the company’s stock, valued at $4,269,657.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Immunovant Price Performance

Shares of NASDAQ:IMVT opened at $27.17 on Friday. Immunovant, Inc. has a 12 month low of $15.90 and a 12 month high of $45.58. The company’s 50-day moving average price is $32.10 and its two-hundred day moving average price is $35.79.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings data on Monday, February 12th. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.07. On average, sell-side analysts expect that Immunovant, Inc. will post -1.7 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on IMVT shares. Truist Financial restated a “buy” rating and issued a $48.00 price objective on shares of Immunovant in a research note on Monday, March 25th. The Goldman Sachs Group started coverage on shares of Immunovant in a research note on Wednesday, March 13th. They issued a “buy” rating and a $50.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating on shares of Immunovant in a research note on Friday, January 12th. Wolfe Research started coverage on shares of Immunovant in a research note on Thursday, February 15th. They issued an “outperform” rating and a $55.00 price objective for the company. Finally, JPMorgan Chase & Co. started coverage on shares of Immunovant in a research note on Tuesday, February 20th. They issued an “overweight” rating and a $51.00 price objective for the company. Seventeen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $48.00.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Headlands Technologies LLC bought a new position in shares of Immunovant in the 4th quarter valued at about $27,000. Barclays PLC boosted its stake in shares of Immunovant by 2,558.1% in the 2nd quarter. Barclays PLC now owns 2,286 shares of the company’s stock valued at $43,000 after purchasing an additional 2,200 shares during the last quarter. Assetmark Inc. bought a new position in shares of Immunovant in the 4th quarter valued at about $61,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Immunovant by 96.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,360 shares of the company’s stock valued at $129,000 after purchasing an additional 1,651 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of Immunovant in the 4th quarter valued at about $212,000. 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.