Immunovant, Inc. (NASDAQ:IMVT) CTO Jay S. Stout Sells 1,925 Shares

Immunovant, Inc. (NASDAQ:IMVT) CTO Jay S. Stout sold 1,925 shares of the stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $14.79, for a total value of $28,470.75. Following the completion of the transaction, the chief technology officer now owns 209,243 shares of the company’s stock, valued at $3,094,703.97. The trade was a 0.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Immunovant Price Performance

IMVT stock opened at $14.72 on Monday. The firm has a market capitalization of $2.50 billion, a PE ratio of -5.62 and a beta of 0.81. The company’s 50 day simple moving average is $17.50 and its 200-day simple moving average is $23.02. Immunovant, Inc. has a 12 month low of $12.72 and a 12 month high of $34.47.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings data 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). As a group, sell-side analysts anticipate that Immunovant, Inc. will post -2.69 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on IMVT shares. Bank of America cut their price objective on Immunovant from $38.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. UBS Group reiterated a “neutral” rating and issued a $17.00 price objective (down previously from $38.00) on shares of Immunovant in a research report on Tuesday, April 22nd. HC Wainwright reiterated a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a research report on Wednesday, March 19th. Wolfe Research cut Immunovant from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Finally, Cantor Fitzgerald raised Immunovant to a “strong-buy” rating in a research note on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.33.

Hedge Funds Weigh In On Immunovant

Institutional investors and hedge funds have recently modified their holdings of the company. FNY Investment Advisers LLC purchased a new position in shares of Immunovant during the first quarter valued at approximately $34,000. GF Fund Management CO. LTD. purchased a new position in shares of Immunovant during the fourth quarter valued at approximately $76,000. KBC Group NV raised its stake in Immunovant by 60.1% during the fourth quarter. KBC Group NV now owns 3,099 shares of the company’s stock worth $77,000 after purchasing an additional 1,163 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Immunovant by 21.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,928 shares of the company’s stock worth $109,000 after purchasing an additional 1,037 shares during the period. Finally, Ameriprise Financial Inc. purchased a new position in Immunovant during the fourth quarter worth approximately $221,000. Hedge funds and other 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.