Immunovant, Inc. (NASDAQ:IMVT) CEO Sells $990,335.74 in Stock

Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann sold 34,079 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $29.06, for a total transaction of $990,335.74. Following the transaction, the chief executive officer now owns 1,052,879 shares in the company, valued at approximately $30,596,663.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Tuesday, April 9th, Peter Salzmann sold 4,807 shares of Immunovant stock. The stock was sold at an average price of $31.18, for a total transaction of $149,882.26.

Immunovant Trading Down 0.4 %

Shares of IMVT stock opened at $28.22 on Friday. Immunovant, Inc. has a 1 year low of $15.08 and a 1 year high of $45.58. The firm’s 50 day moving average is $33.00 and its 200-day moving average is $36.05.

Immunovant (NASDAQ:IMVT) last announced its earnings results on Monday, February 12th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.07. Equities research analysts anticipate that Immunovant, Inc. will post -1.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immunovant

Institutional investors and hedge funds have recently modified their holdings of the business. Headlands Technologies LLC bought a new stake in shares of Immunovant during the fourth quarter worth approximately $27,000. Comerica Bank bought a new stake in shares of Immunovant during the third quarter worth approximately $26,000. KBC Group NV bought a new stake in shares of Immunovant during the fourth quarter worth approximately $56,000. Assetmark Inc. bought a new stake in shares of Immunovant during the fourth quarter worth approximately $61,000. Finally, Barclays PLC increased its stake in Immunovant by 2,558.1% in the second quarter. Barclays PLC now owns 2,286 shares of the company’s stock valued at $43,000 after purchasing an additional 2,200 shares in the last quarter. 47.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IMVT. The Goldman Sachs Group began coverage on shares of Immunovant in a report on Wednesday, March 13th. They set a “buy” rating and a $50.00 price objective on the stock. JPMorgan Chase & Co. started coverage on shares of Immunovant in a research report on Tuesday, February 20th. They set an “overweight” rating and a $51.00 target price on the stock. Oppenheimer started coverage on shares of Immunovant in a research report on Thursday, March 28th. They set an “outperform” rating and a $50.00 target price on the stock. Wolfe Research started coverage on shares of Immunovant in a research report on Thursday, February 15th. They set an “outperform” rating and a $55.00 target price on the stock. Finally, Truist Financial reiterated a “buy” rating and set a $48.00 target price on shares of Immunovant in a research report on Monday, March 25th. Seventeen analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Immunovant has a consensus rating of “Buy” and a consensus price target of $48.00.

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.