Insider Selling: Immunovant, Inc. (NASDAQ:IMVT) CTO Sells 2,195 Shares of Stock

Immunovant, Inc. (NASDAQ:IMVT) CTO Jay S. Stout sold 2,195 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $23.59, for a total transaction of $51,780.05. Following the sale, the chief technology officer now directly owns 139,991 shares of the company’s stock, valued at $3,302,387.69. The trade was a 1.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Immunovant Stock Performance

Shares of IMVT opened at $23.05 on Monday. Immunovant, Inc. has a fifty-two week low of $22.41 and a fifty-two week high of $39.55. The firm’s 50-day simple moving average is $25.85 and its two-hundred day simple moving average is $28.35. The stock has a market cap of $3.38 billion, a PE ratio of -10.38 and a beta of 0.66.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.15). During the same period in the prior year, the firm posted ($0.45) earnings per share. Equities research analysts predict that Immunovant, Inc. will post -2.75 EPS for the current year.

Institutional Investors Weigh In On Immunovant

A number of institutional investors have recently made changes to their positions in IMVT. KBC Group NV raised its holdings in Immunovant by 46.2% in the 3rd quarter. KBC Group NV now owns 1,936 shares of the company’s stock worth $55,000 after acquiring an additional 612 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Immunovant by 73.8% in the 3rd quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock worth $82,000 after purchasing an additional 1,228 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Immunovant by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock worth $148,000 after purchasing an additional 934 shares during the last quarter. Bank Pictet & Cie Europe AG bought a new position in shares of Immunovant during the third quarter valued at $261,000. Finally, Scientech Research LLC purchased a new stake in shares of Immunovant during the second quarter valued at $334,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Oppenheimer increased their target price on shares of Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Raymond James reiterated an “outperform” rating and issued a $36.00 price objective on shares of Immunovant in a research report on Thursday, October 10th. HC Wainwright restated a “buy” rating and set a $51.00 target price on shares of Immunovant in a report on Friday, November 8th. Wolfe Research cut shares of Immunovant from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, Bank of America decreased their price objective on shares of Immunovant from $48.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $47.00.

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.