Jay S. Stout Sells 2,195 Shares of Immunovant, Inc. (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) CTO Jay S. Stout sold 2,195 shares of Immunovant stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $23.59, for a total transaction of $51,780.05. Following the completion of the sale, the chief technology officer now owns 139,991 shares in the company, valued at approximately $3,302,387.69. This represents a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Immunovant Trading Down 1.5 %

IMVT opened at $23.05 on Friday. The stock’s 50 day simple moving average is $25.85 and its 200-day simple moving average is $28.36. The stock has a market cap of $3.38 billion, a PE ratio of -10.38 and a beta of 0.66. Immunovant, Inc. has a 1 year low of $22.41 and a 1 year high of $39.55.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.15). During the same quarter in the previous year, the company earned ($0.45) EPS. Equities analysts forecast that Immunovant, Inc. will post -2.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

IMVT has been the topic of several research analyst reports. 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 research note on Thursday, December 19th. Oppenheimer raised their price objective on shares of Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Wolfe Research downgraded Immunovant from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. HC Wainwright reiterated a “buy” rating and set a $51.00 price target on shares of Immunovant in a research report on Friday, November 8th. Finally, Bank of America dropped their price objective on Immunovant from $48.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $47.00.

Institutional Investors Weigh In On Immunovant

A number of institutional investors have recently added to or reduced their stakes in IMVT. FMR LLC lifted its position in shares of Immunovant by 19.6% during the 3rd quarter. FMR LLC now owns 12,537,571 shares of the company’s stock worth $357,446,000 after buying an additional 2,053,688 shares during the period. Armistice Capital LLC raised its stake in Immunovant by 57.0% during the second quarter. Armistice Capital LLC now owns 3,396,909 shares of the company’s stock worth $89,678,000 after acquiring an additional 1,232,909 shares in the last quarter. State Street Corp lifted 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 during the period. Geode Capital Management LLC boosted its stake in shares of Immunovant by 6.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,510,926 shares of the company’s stock valued at $43,085,000 after purchasing an additional 96,924 shares in the last quarter. Finally, Baker BROS. Advisors LP grew its holdings in shares of Immunovant by 163.7% in the 3rd quarter. Baker BROS. Advisors LP now owns 1,225,410 shares of the company’s stock worth $34,936,000 after purchasing an additional 760,692 shares during the last quarter. 47.08% of the stock is owned by institutional investors and hedge funds.

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.