Insider Selling: Immunovant, Inc. (NASDAQ:IMVT) CEO Sells 5,105 Shares of Stock

Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann sold 5,105 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $24.10, for a total transaction of $123,030.50. Following the transaction, the chief executive officer now owns 972,992 shares of the company’s stock, valued at approximately $23,449,107.20. This represents a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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 %

Shares of Immunovant stock traded down $0.15 on Friday, hitting $23.48. The stock had a trading volume of 832,137 shares, compared to its average volume of 630,140. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of -10.58 and a beta of 0.66. Immunovant, Inc. has a twelve month low of $23.08 and a twelve month high of $43.92. The business’s 50 day moving average is $27.19 and its two-hundred day moving average is $28.61.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings data 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 previous year, the business earned ($0.45) earnings per share. As a group, equities analysts predict that Immunovant, Inc. will post -2.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on IMVT shares. Raymond James restated an “outperform” rating and set a $36.00 target price on shares of Immunovant in a report on Thursday, October 10th. Oppenheimer boosted their price objective on shares of Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Wells Fargo & Company cut their target price on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. HC Wainwright reissued a “buy” rating and set a $51.00 price target on shares of Immunovant in a research report on Friday, November 8th. Finally, Wolfe Research cut 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 nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $47.22.

Hedge Funds Weigh In On Immunovant

Hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its position in shares of Immunovant by 12.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 250,339 shares of the company’s stock worth $6,609,000 after purchasing an additional 27,960 shares in the last quarter. Rhumbline Advisers grew its position in Immunovant by 9.7% during the second quarter. Rhumbline Advisers now owns 83,532 shares of the company’s stock worth $2,205,000 after buying an additional 7,363 shares in the last quarter. Quest Partners LLC increased its stake in Immunovant by 216.7% during the 2nd quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock worth $69,000 after acquiring an additional 1,786 shares during the period. Headlands Technologies LLC acquired a new position in Immunovant in the 2nd quarter valued at $77,000. Finally, First Turn Management LLC lifted its position in shares of Immunovant by 35.6% during the 2nd quarter. First Turn Management LLC now owns 695,428 shares of the company’s stock valued at $18,359,000 after acquiring an additional 182,535 shares during the period. 47.08% of the stock is owned by 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.