Mark S. Levine Sells 3,650 Shares of Immunovant, Inc. (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) insider Mark S. Levine sold 3,650 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $25.45, for a total transaction of $92,892.50. Following the completion of the transaction, the insider now directly owns 319,228 shares in the company, valued at approximately $8,124,352.60. The trade was a 1.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Immunovant Stock Up 1.2 %

NASDAQ:IMVT opened at $26.87 on Monday. The firm’s 50 day moving average is $29.08 and its 200 day moving average is $28.90. Immunovant, Inc. has a 12 month low of $24.61 and a 12 month high of $45.58.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings data 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 quarter last year, the firm posted ($0.45) EPS. As a group, equities research analysts anticipate that Immunovant, Inc. will post -2.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on IMVT. Oppenheimer lifted their target price on shares of Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Raymond James reissued an “outperform” rating and set a $36.00 target price on shares of Immunovant in a research report on Thursday, October 10th. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunovant in a research report on Monday, September 9th. HC Wainwright reissued a “buy” rating and set a $51.00 target price on shares of Immunovant in a research report on Friday, November 8th. Finally, UBS Group dropped their target price on shares of Immunovant from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $48.10.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. KBC Group NV grew its stake in Immunovant by 46.2% in the 3rd quarter. KBC Group NV now owns 1,936 shares of the company’s stock valued at $55,000 after buying an additional 612 shares in the last quarter. Quest Partners LLC grew its stake in 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 buying an additional 1,786 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Immunovant during the 2nd quarter valued at $77,000. Assetmark Inc. grew its position in shares of Immunovant by 73.8% during the 3rd quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock valued at $82,000 after purchasing an additional 1,228 shares in the last quarter. Finally, EntryPoint Capital LLC grew its position in shares of Immunovant by 288.8% during the 1st quarter. EntryPoint Capital LLC now owns 2,912 shares of the company’s stock valued at $94,000 after purchasing an additional 2,163 shares in the last quarter. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

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.