Peter Salzmann Sells 8,767 Shares of Immunovant, Inc. (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann sold 8,767 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $23.83, for a total value of $208,917.61. Following the transaction, the chief executive officer now directly 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 sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Wednesday, January 8th, Peter Salzmann sold 5,105 shares of Immunovant stock. The stock was 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 shares were 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 stock was sold at an average price of $25.45, for a total transaction of $424,811.40.

Immunovant Trading Up 0.3 %

Shares of IMVT stock traded up $0.06 during midday trading on Friday, reaching $23.86. 1,032,612 shares of the stock were exchanged, compared to its average volume of 1,051,056. The firm has a market cap of $3.50 billion, a PE ratio of -10.75 and a beta of 0.66. The company’s 50 day moving average is $26.53 and its two-hundred day moving average is $28.50. Immunovant, Inc. has a 1 year low of $22.41 and a 1 year high of $41.38.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.15). During the same period last year, the company posted ($0.45) earnings per share. As a group, equities analysts expect that Immunovant, Inc. will post -2.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

IMVT has been the topic of a number of recent research reports. Oppenheimer raised 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 restated a “buy” rating and set a $51.00 price target on shares of Immunovant in a research report on Friday, November 8th. Wells Fargo & Company lowered their price objective on Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Wolfe Research lowered Immunovant from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Finally, Raymond James reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Immunovant in a research note on Thursday, October 10th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $47.00.

Institutional Investors Weigh In On Immunovant

Several hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. lifted its holdings in shares of Immunovant by 7.4% during the third quarter. Victory Capital Management Inc. now owns 335,360 shares of the company’s stock valued at $9,561,000 after purchasing an additional 22,990 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Immunovant by 19.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 552,430 shares of the company’s stock worth $15,750,000 after acquiring an additional 91,259 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Immunovant by 69.9% in the third quarter. Principal Financial Group Inc. now owns 951,124 shares of the company’s stock worth $27,117,000 after acquiring an additional 391,436 shares in the last quarter. Rubric Capital Management LP purchased a new stake in shares of Immunovant in the second quarter worth $1,548,000. Finally, State Street Corp increased its holdings in shares of Immunovant by 11.2% during the third quarter. State Street Corp now owns 3,022,342 shares of the company’s stock valued at $86,167,000 after acquiring an additional 303,386 shares in the last quarter. Institutional investors 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.