Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann Sells 9,095 Shares of Stock

Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann sold 9,095 shares of Immunovant stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $28.79, for a total value of $261,845.05. Following the transaction, the chief executive officer now owns 994,789 shares in the company, valued at $28,639,975.31. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, October 9th, Peter Salzmann sold 4,460 shares of Immunovant stock. The shares were sold at an average price of $29.56, for a total transaction of $131,837.60.

Immunovant Trading Up 0.7 %

NASDAQ:IMVT opened at $29.47 on Friday. Immunovant, Inc. has a 1-year low of $24.67 and a 1-year high of $45.58. The stock has a market capitalization of $4.31 billion, a PE ratio of -15.51 and a beta of 0.66. The firm has a fifty day simple moving average of $30.09 and a 200 day simple moving average of $28.98.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.07). During the same quarter last year, the company posted ($0.57) earnings per share. On average, equities analysts predict that Immunovant, Inc. will post -2.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Immunovant

Several large investors have recently modified their holdings of IMVT. Wellington Management Group LLP grew its stake in Immunovant by 75.0% in the 4th quarter. Wellington Management Group LLP now owns 295,020 shares of the company’s stock valued at $12,429,000 after buying an additional 126,412 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Immunovant by 185.4% during the first quarter. Los Angeles Capital Management LLC now owns 14,371 shares of the company’s stock worth $464,000 after purchasing an additional 9,335 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Immunovant by 51.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 65,091 shares of the company’s stock worth $2,103,000 after purchasing an additional 22,226 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Immunovant by 32.4% in the 1st quarter. Principal Financial Group Inc. now owns 582,721 shares of the company’s stock valued at $18,828,000 after purchasing an additional 142,606 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Immunovant by 98.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 71,788 shares of the company’s stock valued at $2,319,000 after purchasing an additional 35,589 shares during the period. 47.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Immunovant in a report on Monday, September 9th. Raymond James reiterated an “outperform” rating and set a $36.00 price objective on shares of Immunovant in a report on Thursday, October 10th. Oppenheimer lifted their target price on Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. UBS Group reduced their price target on Immunovant from $42.00 to $41.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Finally, HC Wainwright reiterated a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a report on Monday, September 30th. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $48.91.

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.