Immunovant, Inc. (NASDAQ:IMVT) Insider Sells $94,242.90 in Stock

Immunovant, Inc. (NASDAQ:IMVT) insider Michael Geffner sold 3,261 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $28.90, for a total value of $94,242.90. Following the completion of the sale, the insider now directly owns 141,616 shares in the company, valued at $4,092,702.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Immunovant Trading Down 2.1 %

Shares of NASDAQ:IMVT traded down $0.58 during trading on Friday, reaching $27.17. The company’s stock had a trading volume of 1,411,695 shares, compared to its average volume of 1,224,262. Immunovant, Inc. has a 12 month low of $15.90 and a 12 month high of $45.58. The firm’s 50 day simple moving average is $32.30 and its two-hundred day simple moving average is $35.86. The stock has a market capitalization of $3.95 billion, a PE ratio of -14.77 and a beta of 0.65.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings data 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. Research analysts anticipate that Immunovant, Inc. will post -1.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Immunovant

Institutional investors have recently bought and sold shares of the business. Barclays PLC grew its holdings in Immunovant by 2,558.1% in the second quarter. Barclays PLC now owns 2,286 shares of the company’s stock worth $43,000 after purchasing an additional 2,200 shares during the last quarter. Handelsbanken Fonder AB acquired a new stake in shares of Immunovant during the third quarter worth $342,000. Bank of New York Mellon Corp lifted its stake in shares of Immunovant by 5.3% during the third quarter. Bank of New York Mellon Corp now owns 192,214 shares of the company’s stock worth $7,379,000 after buying an additional 9,648 shares during the period. Bailard Inc. acquired a new stake in shares of Immunovant during the third quarter worth $242,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Immunovant by 2.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,401 shares of the company’s stock worth $1,436,000 after buying an additional 1,059 shares during the period. 47.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IMVT has been the topic of several research analyst reports. Oppenheimer initiated coverage on Immunovant in a report on Thursday, March 28th. They set an “outperform” rating and a $50.00 price target on the stock. JPMorgan Chase & Co. initiated coverage on Immunovant in a report on Tuesday, February 20th. They set an “overweight” rating and a $51.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunovant in a report on Friday, January 12th. The Goldman Sachs Group began coverage on Immunovant in a report on Wednesday, March 13th. They set a “buy” rating and a $50.00 price target on the stock. Finally, Truist Financial restated a “buy” rating and issued a $48.00 price objective on shares of Immunovant in a research note on Monday, March 25th. Seventeen equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus 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.