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

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

Immunovant Stock Down 1.5 %

Immunovant stock opened at $23.05 on Friday. The company has a market capitalization of $3.38 billion, a PE ratio of -10.38 and a beta of 0.66. Immunovant, Inc. has a 12-month low of $22.41 and a 12-month high of $39.55. The firm’s fifty day moving average is $25.85 and its 200 day moving average is $28.36.

Immunovant (NASDAQ:IMVT) last announced 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 quarter in the previous year, the business posted ($0.45) EPS. Sell-side analysts expect that Immunovant, Inc. will post -2.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on IMVT shares. Bank of America dropped their price target on shares of Immunovant from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Wells Fargo & Company cut their target price on Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Oppenheimer increased their price target on Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Raymond James reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Immunovant in a research note on Thursday, October 10th. Finally, HC Wainwright reissued a “buy” rating and set a $51.00 target price on shares of Immunovant in a research report on Friday, November 8th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.00.

Institutional Inflows and Outflows

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

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.