Immunovant, Inc. (NASDAQ:IMVT) CFO Sells $356,072.18 in Stock

Immunovant, Inc. (NASDAQ:IMVT) CFO Eva Renee Barnett sold 12,253 shares of the stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $29.06, for a total value of $356,072.18. Following the sale, the chief financial officer now directly owns 359,456 shares in the company, valued at approximately $10,445,791.36. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Eva Renee Barnett also recently made the following trade(s):

• On Tuesday, April 9th, Eva Renee Barnett sold 3,689 shares of Immunovant stock. The stock was sold at an average price of $31.18, for a total value of $115,023.02.
• On Thursday, February 22nd, Eva Renee Barnett sold 2,930 shares of Immunovant stock. The stock was sold at an average price of $36.15, for a total value of $105,919.50.

Immunovant Stock Down 0.4 %

Shares of Immunovant stock traded down $0.10 during trading on Friday, hitting $28.22. 1,078,875 shares of the stock traded hands, compared to its average volume of 1,234,374. The firm’s fifty day moving average is $33.15 and its 200-day moving average is $36.10. Immunovant, Inc. has a 52 week low of $15.08 and a 52 week high of $45.58. The stock has a market cap of $4.10 billion, a price-to-earnings ratio of -15.34 and a beta of 0.65.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings results on Monday, February 12th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.07. On average, analysts forecast that Immunovant, Inc. will post -1.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Immunovant

Institutional investors and hedge funds have recently bought and sold shares of the stock. Comerica Bank bought a new position in Immunovant during the 3rd quarter worth approximately $26,000. Headlands Technologies LLC bought a new position in Immunovant during the 4th quarter worth approximately $27,000. Ensign Peak Advisors Inc grew its position in Immunovant by 72.6% during the 3rd quarter. Ensign Peak Advisors Inc now owns 6,350 shares of the company’s stock worth $35,000 after acquiring an additional 2,670 shares during the last quarter. UBS Group AG grew its position in Immunovant by 205.7% during the 3rd quarter. UBS Group AG now owns 6,978 shares of the company’s stock worth $39,000 after acquiring an additional 4,695 shares during the last quarter. Finally, Barclays PLC lifted its holdings in Immunovant by 2,558.1% in the 2nd quarter. Barclays PLC now owns 2,286 shares of the company’s stock worth $43,000 after buying an additional 2,200 shares during the period. 47.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IMVT has been the topic of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on Immunovant in a report on Tuesday, February 20th. They set an “overweight” rating and a $51.00 price objective on the stock. Bank of America increased their price objective on Immunovant from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, December 21st. Truist Financial reaffirmed a “buy” rating and issued a $48.00 price target on shares of Immunovant in a report on Monday, March 25th. The Goldman Sachs Group assumed coverage on Immunovant in a report on Wednesday, March 13th. They issued a “buy” rating and a $50.00 price target on the stock. Finally, Wolfe Research assumed coverage on Immunovant in a report on Thursday, February 15th. They issued an “outperform” rating and a $55.00 price target on the stock. Seventeen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Immunovant presently has a consensus rating of “Buy” and an average target price of $48.00.

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.