Insider Selling: Immunovant, Inc. (NASDAQ:IMVT) CFO Sells 5,162 Shares of Stock

Immunovant, Inc. (NASDAQ:IMVT) CFO Eva Renee Barnett sold 5,162 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $29.56, for a total transaction of $152,588.72. Following the completion of the sale, the chief financial officer now owns 338,614 shares of the company’s stock, valued at approximately $10,009,429.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Eva Renee Barnett also recently made the following trade(s):

• On Wednesday, July 17th, Eva Renee Barnett sold 3,123 shares of Immunovant stock. The stock was sold at an average price of $29.69, for a total transaction of $92,721.87.

Immunovant Stock Up 1.6 %

Shares of IMVT stock opened at $30.40 on Friday. Immunovant, Inc. has a 52 week low of $24.67 and a 52 week high of $45.58. The stock has a market capitalization of $4.45 billion, a PE ratio of -15.75 and a beta of 0.66. The firm has a 50 day moving average of $29.95 and a two-hundred day moving average of $29.08.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.07). During the same quarter in the prior year, the firm earned ($0.57) EPS. Analysts expect that Immunovant, Inc. will post -2.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

IMVT has been the subject of a number of recent analyst reports. Cantor Fitzgerald restated an “overweight” rating on shares of Immunovant in a report on Monday, September 9th. HC Wainwright reiterated a “buy” rating and issued a $51.00 target price on shares of Immunovant in a report on Monday, September 30th. JPMorgan Chase & Co. dropped their target price on shares of Immunovant from $51.00 to $46.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Oppenheimer lifted their target price on shares of Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, UBS Group dropped their target price on shares of Immunovant from $42.00 to $41.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat, Immunovant has a consensus rating of “Buy” and an average price target of $48.58.

Hedge Funds Weigh In On Immunovant

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IMVT. Octagon Capital Advisors LP boosted its position in Immunovant by 127.3% in the 4th quarter. Octagon Capital Advisors LP now owns 273,289 shares of the company’s stock valued at $11,514,000 after buying an additional 1,273,289 shares during the period. Armistice Capital LLC lifted its position in shares of Immunovant by 57.0% during the 2nd quarter. Armistice Capital LLC now owns 3,396,909 shares of the company’s stock worth $89,678,000 after purchasing an additional 1,232,909 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Immunovant by 11.2% during the 1st quarter. Vanguard Group Inc. now owns 6,478,304 shares of the company’s stock worth $209,314,000 after purchasing an additional 650,506 shares during the last quarter. Alpine Global Management LLC lifted its position in shares of Immunovant by 34.6% during the 1st quarter. Alpine Global Management LLC now owns 1,882,704 shares of the company’s stock worth $60,830,000 after purchasing an additional 484,332 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Immunovant by 16.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,862,043 shares of the company’s stock worth $60,163,000 after purchasing an additional 259,481 shares during the last quarter. Hedge funds and other 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.