Immunovant (NASDAQ:IMVT) Insider Tuyl Christopher Van Sells 2,846 Shares of Stock

Immunovant, Inc. (NASDAQ:IMVT) insider Christopher Van Tuyl sold 2,846 shares of the company’s stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $36.36, for a total value of $103,480.56. Following the completion of the sale, the insider owned 176,545 shares in the company, valued at $6,419,176.20. This represents a 1.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Tuyl Christopher Van also recently made the following trade(s):

• On Wednesday, July 8th, Christopher Van Tuyl sold 1,206 shares of Immunovant stock. The shares were sold at an average price of $39.55, for a total value of $47,697.30.

Immunovant Trading Down 2.1%

Shares of NASDAQ:IMVT traded down $0.70 on Friday, hitting $33.30. The company had a trading volume of 2,083,971 shares, compared to its average volume of 1,520,675. The stock has a 50 day moving average price of $39.89 and a 200 day moving average price of $33.89. The stock has a market cap of $6.88 billion, a price-to-earnings ratio of -11.81 and a beta of 0.81. Immunovant, Inc. has a 1-year low of $15.56 and a 1-year high of $45.42.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.12). The business had revenue of $7.09 million for the quarter, compared to analysts’ expectations of $7.09 million. During the same period in the previous year, the business earned ($0.71) EPS. Sell-side analysts anticipate that Immunovant, Inc. will post -2.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Immunovant

A number of institutional investors have recently modified their holdings of IMVT. BlackRock Inc. acquired a new position in Immunovant during the second quarter worth $276,680,000. Two Seas Capital LP bought a new position in Immunovant during the 2nd quarter valued at $121,312,000. ADAR1 Capital Management LLC bought a new stake in shares of Immunovant in the 2nd quarter worth $89,802,000. Jennison Associates LLC lifted its position in shares of Immunovant by 356.4% during the first quarter. Jennison Associates LLC now owns 3,196,705 shares of the company’s stock valued at $79,406,000 after purchasing an additional 2,496,241 shares in the last quarter. Finally, Perceptive Advisors LLC grew its position in Immunovant by 25.6% in the 4th quarter. Perceptive Advisors LLC now owns 1,994,890 shares of the company’s stock worth $50,710,000 after purchasing an additional 407,000 shares in the last quarter. 47.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on IMVT. Sanford C. Bernstein upgraded Immunovant to a “hold” rating in a research report on Wednesday, July 29th. Cantor Fitzgerald restated an “overweight” rating on shares of Immunovant in a research report on Tuesday, August 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immunovant in a research report on Monday, July 6th. JPMorgan Chase & Co. increased their target price on shares of Immunovant from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Finally, HC Wainwright reiterated a “buy” rating on shares of Immunovant in a research report on Thursday. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.00.

Immunovant Company Profile

Immunovant, Inc (NASDAQ: IMVT) is a clinical-stage biopharmaceutical company developing therapies for patients with immune-mediated diseases. The company focuses on conditions in which disease-causing antibodies, or immunoglobulin G (IgG), play a central role, including autoimmune and inflammatory disorders.

Immunovant’s lead product candidate is batoclimab, an investigational fully human monoclonal antibody designed to block the neonatal Fc receptor (FcRn). By inhibiting FcRn, batoclimab is intended to reduce circulating IgG antibodies that can contribute to autoimmune disease.