Immunovant, Inc. (NASDAQ:IMVT) Insider William L. Macias Sells 3,188 Shares of Stock

Immunovant, Inc. (NASDAQ:IMVT) insider William L. Macias sold 3,188 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $28.79, for a total transaction of $91,782.52. Following the sale, the insider now directly owns 365,144 shares in the company, valued at $10,512,495.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Immunovant Stock Performance

NASDAQ IMVT opened at $29.47 on Friday. The business has a fifty day moving average price of $30.09 and a 200 day moving average price of $28.98. The company has a market cap of $4.31 billion, a P/E ratio of -15.51 and a beta of 0.66. Immunovant, Inc. has a one year low of $24.67 and a one year high of $45.58.

Immunovant (NASDAQ:IMVT) last issued its earnings results on Tuesday, August 6th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.07). During the same quarter last year, the business posted ($0.57) EPS. As a group, sell-side analysts predict that Immunovant, Inc. will post -2.43 EPS for the current fiscal year.

Institutional Trading of Immunovant

A number of hedge funds have recently bought and sold shares of IMVT. Quest Partners LLC boosted its holdings in shares of Immunovant by 216.7% during the 2nd quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock worth $69,000 after purchasing an additional 1,786 shares during the last quarter. Headlands Technologies LLC acquired a new position in Immunovant during the second quarter worth $77,000. EntryPoint Capital LLC boosted its stake in Immunovant by 288.8% during the first quarter. EntryPoint Capital LLC now owns 2,912 shares of the company’s stock worth $94,000 after buying an additional 2,163 shares during the last quarter. DNB Asset Management AS grew its holdings in Immunovant by 10.3% in the 2nd quarter. DNB Asset Management AS now owns 10,290 shares of the company’s stock valued at $271,000 after buying an additional 958 shares in the last quarter. Finally, Farallon Capital Management LLC acquired a new stake in shares of Immunovant in the 2nd quarter worth $317,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on IMVT shares. UBS Group lowered their price target on shares of Immunovant from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Raymond James reissued an “outperform” rating and set a $36.00 target price on shares of Immunovant in a research note on Thursday, October 10th. Cantor Fitzgerald restated an “overweight” rating on shares of Immunovant in a research note on Monday, September 9th. JPMorgan Chase & Co. lowered their price target on Immunovant from $51.00 to $46.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Finally, HC Wainwright restated a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a research report on Monday, September 30th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $48.91.

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.