Immunovant, Inc. (NASDAQ:IMVT) CEO Sells $123,030.50 in Stock

Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann sold 5,105 shares of Immunovant stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $24.10, for a total transaction of $123,030.50. Following the completion of the sale, the chief executive officer now owns 972,992 shares of the company’s stock, valued at $23,449,107.20. This trade represents a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Peter Salzmann also recently made the following trade(s):

• On Wednesday, November 20th, Peter Salzmann sold 16,692 shares of Immunovant stock. The shares were sold at an average price of $25.45, for a total transaction of $424,811.40.
• On Wednesday, November 20th, Peter Salzmann sold 16,692 shares of Immunovant stock. The stock was sold at an average price of $25.45, for a total transaction of $424,811.40.
• On Wednesday, October 16th, Peter Salzmann sold 9,095 shares of Immunovant stock. The shares were sold at an average price of $28.79, for a total value of $261,845.05.

Immunovant Stock Performance

NASDAQ:IMVT opened at $23.48 on Friday. The firm’s 50-day moving average is $27.07 and its 200-day moving average is $28.59. The company has a market cap of $3.45 billion, a price-to-earnings ratio of -10.58 and a beta of 0.66. Immunovant, Inc. has a 52-week low of $23.08 and a 52-week high of $43.92.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.15). During the same quarter in the previous year, the company posted ($0.45) earnings per share. Equities analysts predict that Immunovant, Inc. will post -2.73 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. increased its holdings in Immunovant by 7.4% in the 3rd quarter. Victory Capital Management Inc. now owns 335,360 shares of the company’s stock valued at $9,561,000 after buying an additional 22,990 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Immunovant by 19.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 552,430 shares of the company’s stock valued at $15,750,000 after acquiring an additional 91,259 shares during the period. Principal Financial Group Inc. increased its stake in Immunovant by 69.9% in the third quarter. Principal Financial Group Inc. now owns 951,124 shares of the company’s stock valued at $27,117,000 after acquiring an additional 391,436 shares during the period. Rubric Capital Management LP bought a new position in Immunovant during the second quarter worth about $1,548,000. Finally, First Turn Management LLC lifted its stake in Immunovant by 35.6% during the second quarter. First Turn Management LLC now owns 695,428 shares of the company’s stock worth $18,359,000 after purchasing an additional 182,535 shares during the period. 47.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Raymond James reissued an “outperform” rating and set a $36.00 price objective on shares of Immunovant in a report on Thursday, October 10th. Oppenheimer lifted their price target on shares of Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Wolfe Research cut shares of Immunovant from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. HC Wainwright reiterated a “buy” rating and issued a $51.00 target price on shares of Immunovant in a research note on Friday, November 8th. Finally, Wells Fargo & Company cut their target price on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.22.

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.