Peter Salzmann Sells 8,321 Shares of Immunovant, Inc. (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann sold 8,321 shares of the business’s stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $14.89, for a total transaction of $123,899.69. Following the sale, the chief executive officer now owns 1,178,191 shares in the company, valued at approximately $17,543,263.99. This trade represents a 0.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

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

• On Wednesday, April 9th, Peter Salzmann sold 28,094 shares of Immunovant stock. The shares were sold at an average price of $12.99, for a total transaction of $364,941.06.

Immunovant Stock Performance

IMVT opened at $15.15 on Friday. The company’s 50-day simple moving average is $18.05 and its two-hundred day simple moving average is $23.64. Immunovant, Inc. has a 52-week low of $12.72 and a 52-week high of $34.47. The stock has a market capitalization of $2.57 billion, a P/E ratio of -5.78 and a beta of 0.81.

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

Institutional Trading of Immunovant

Several large investors have recently modified their holdings of the company. FNY Investment Advisers LLC purchased a new position in Immunovant in the first quarter worth about $34,000. GF Fund Management CO. LTD. bought a new position in shares of Immunovant in the 4th quarter worth approximately $76,000. KBC Group NV boosted its holdings in shares of Immunovant by 60.1% in the fourth quarter. KBC Group NV now owns 3,099 shares of the company’s stock worth $77,000 after buying an additional 1,163 shares during the last quarter. GAMMA Investing LLC grew its position in Immunovant by 3,816.8% during the first quarter. GAMMA Investing LLC now owns 5,366 shares of the company’s stock valued at $920,000 after buying an additional 5,229 shares during the period. Finally, Ameriprise Financial Inc. purchased a new stake in Immunovant during the fourth quarter valued at approximately $221,000. Institutional investors own 47.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Bank of America decreased their target price on shares of Immunovant from $38.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Wolfe Research cut Immunovant from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Cantor Fitzgerald raised Immunovant to a “strong-buy” rating in a research note on Tuesday, March 4th. Jefferies Financial Group initiated coverage on Immunovant in a research report on Monday, March 3rd. They issued a “hold” rating and a $20.00 price target for the company. Finally, HC Wainwright reissued a “buy” rating and set a $51.00 price objective on shares of Immunovant in a research report on Wednesday, March 19th. One 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. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $41.00.

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.