Immunovant, Inc. (NASDAQ:IMVT) Insider Sells $293,941.90 in Stock

Immunovant, Inc. (NASDAQ:IMVT) insider Julia G. Butchko sold 10,115 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $29.06, for a total value of $293,941.90. Following the completion of the transaction, the insider now directly owns 451,627 shares of the company’s stock, valued at $13,124,280.62. The sale was disclosed in a filing with the SEC, which is available at this link.

Immunovant Stock Performance

IMVT traded down $0.10 during mid-day trading on Friday, reaching $28.22. The stock had a trading volume of 1,078,875 shares, compared to its average volume of 1,234,374. The stock has a market capitalization of $4.10 billion, a P/E ratio of -15.34 and a beta of 0.65. The firm’s fifty day simple moving average is $33.15 and its two-hundred day simple moving average is $36.10. Immunovant, Inc. has a 52 week low of $15.08 and a 52 week high of $45.58.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings results on Monday, February 12th. The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.07. As a group, analysts expect that Immunovant, Inc. will post -1.7 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IMVT. HC Wainwright increased their target price on Immunovant from $47.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, December 21st. Wolfe Research began coverage on Immunovant in a report on Thursday, February 15th. They issued an “outperform” rating and a $55.00 target price for the company. Bank of America increased their price target on Immunovant from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, December 21st. Oppenheimer began coverage on Immunovant in a research report on Thursday, March 28th. They set an “outperform” rating and a $50.00 price target on the stock. Finally, Truist Financial restated a “buy” rating and set a $48.00 price target on shares of Immunovant in a research report on Monday, March 25th. Seventeen analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $48.00.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in IMVT. Comerica Bank acquired a new position in shares of Immunovant in the 3rd quarter valued at $26,000. Headlands Technologies LLC acquired a new stake in Immunovant during the 4th quarter worth $27,000. Ensign Peak Advisors Inc raised its stake 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 buying an additional 2,670 shares during the period. UBS Group AG raised its stake 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 buying an additional 4,695 shares during the period. Finally, Barclays PLC raised its stake in Immunovant by 2,558.1% during 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. Institutional investors and hedge funds own 47.08% of the company’s stock.

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.