Immunovant, Inc. (NASDAQ:IMVT) Insider Michael Geffner Sells 2,657 Shares of Stock

Immunovant, Inc. (NASDAQ:IMVT) insider Michael Geffner sold 2,657 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $23.59, for a total transaction of $62,678.63. Following the sale, the insider now directly owns 132,314 shares in the company, valued at approximately $3,121,287.26. The trade was a 1.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Immunovant Stock Performance

IMVT stock opened at $23.05 on Friday. The business has a 50 day moving average price of $25.93 and a 200 day moving average price of $28.39. Immunovant, Inc. has a fifty-two week low of $22.41 and a fifty-two week high of $39.55.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings data 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 last year, the firm posted ($0.45) EPS. Analysts forecast that Immunovant, Inc. will post -2.75 EPS for the current fiscal year.

Institutional Investors Weigh In On Immunovant

Institutional investors and hedge funds have recently bought and sold shares of the stock. abrdn plc lifted its holdings in shares of Immunovant by 11.1% in the 4th quarter. abrdn plc now owns 532,110 shares of the company’s stock valued at $13,180,000 after purchasing an additional 53,353 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of Immunovant by 10.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 31,124 shares of the company’s stock worth $771,000 after acquiring an additional 2,973 shares during the last quarter. KBC Group NV increased its holdings in shares of Immunovant by 60.1% in the 4th quarter. KBC Group NV now owns 3,099 shares of the company’s stock valued at $77,000 after acquiring an additional 1,163 shares during the period. Principal Financial Group Inc. raised its position in Immunovant by 69.9% in the 3rd quarter. Principal Financial Group Inc. now owns 951,124 shares of the company’s stock valued at $27,117,000 after purchasing an additional 391,436 shares during the last quarter. Finally, Tyro Capital Management LLC boosted its stake in Immunovant by 0.6% during the 3rd quarter. Tyro Capital Management LLC now owns 252,149 shares of the company’s stock worth $7,189,000 after purchasing an additional 1,529 shares during the period. 47.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IMVT has been the topic of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $51.00 price objective on shares of Immunovant in a research report on Friday, November 8th. Raymond James restated an “outperform” rating and set a $36.00 price target on shares of Immunovant in a report on Thursday, October 10th. Bank of America reduced their price target on Immunovant from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. Wolfe Research downgraded Immunovant from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company reduced their target price on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.