Immunovant, Inc. (NASDAQ:IMVT) CFO Sells $44,565.77 in Stock

Immunovant, Inc. (NASDAQ:IMVT) CFO Eva Renee Barnett sold 2,993 shares of the stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $14.89, for a total value of $44,565.77. Following the completion of the transaction, the chief financial officer now owns 396,774 shares in the company, valued at approximately $5,907,964.86. The trade was a 0.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Immunovant Price Performance

Shares of Immunovant stock traded up $0.31 on Thursday, reaching $15.15. 1,040,222 shares of the company traded hands, compared to its average volume of 1,191,930. The company has a 50 day moving average of $18.22 and a 200 day moving average of $23.82. Immunovant, Inc. has a 52 week low of $12.72 and a 52 week high of $34.47. The firm has a market capitalization of $2.57 billion, a PE ratio of -5.78 and a beta of 0.81.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings results on Monday, February 10th. The company reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.08). As a group, analysts anticipate that Immunovant, Inc. will post -2.69 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Cantor Fitzgerald raised shares of Immunovant to a “strong-buy” rating in a research report on Tuesday, March 4th. Wolfe Research cut shares of Immunovant from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Jefferies Financial Group initiated coverage on Immunovant in a report on Monday, March 3rd. They issued a “hold” rating and a $20.00 target price on the stock. Bank of America lowered their price target on Immunovant from $38.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. Finally, HC Wainwright reissued a “buy” rating and set a $51.00 price target on shares of Immunovant in a research report on Wednesday, March 19th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $41.00.

Institutional Trading of Immunovant

A number of hedge funds and other institutional investors have recently bought and sold shares of IMVT. T. Rowe Price Investment Management Inc. raised its position in shares of Immunovant by 53.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,117,234 shares of the company’s stock worth $126,754,000 after buying an additional 1,786,217 shares in the last quarter. Deep Track Capital LP lifted its position in Immunovant by 38.0% during the fourth quarter. Deep Track Capital LP now owns 6,000,000 shares of the company’s stock valued at $148,620,000 after purchasing an additional 1,652,536 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Immunovant by 405.3% in the 4th quarter. JPMorgan Chase & Co. now owns 1,153,338 shares of the company’s stock worth $28,568,000 after buying an additional 925,081 shares during the last quarter. Two Seas Capital LP raised its position in shares of Immunovant by 123.4% during the 4th quarter. Two Seas Capital LP now owns 1,511,614 shares of the company’s stock valued at $37,443,000 after buying an additional 835,000 shares in the last quarter. Finally, Boxer Capital Management LLC purchased a new position in Immunovant in the fourth quarter worth $20,435,000. Institutional investors 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.