Eva Renee Barnett Sells 4,105 Shares of Immunovant, Inc. (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) CFO Eva Renee Barnett sold 4,105 shares of Immunovant stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $24.10, for a total transaction of $98,930.50. Following the transaction, the chief financial officer now directly owns 327,064 shares in the company, valued at $7,882,242.40. This trade represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Eva Renee Barnett also recently made the following trade(s):

• On Wednesday, November 20th, Eva Renee Barnett sold 4,174 shares of Immunovant stock. The stock was sold at an average price of $25.45, for a total transaction of $106,228.30.
• On Wednesday, November 20th, Eva Renee Barnett sold 4,174 shares of Immunovant stock. The shares were sold at an average price of $25.45, for a total value of $106,228.30.
• On Wednesday, October 16th, Eva Renee Barnett sold 3,271 shares of Immunovant stock. The stock was sold at an average price of $28.79, for a total value of $94,172.09.

Immunovant Stock Down 0.6 %

NASDAQ:IMVT opened at $23.48 on Friday. 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. The company has a fifty day simple moving average of $27.07 and a two-hundred day simple moving average of $28.59.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings results 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 period in the prior year, the firm posted ($0.45) earnings per share. On average, analysts expect that Immunovant, Inc. will post -2.73 EPS for the current year.

Analyst Upgrades and Downgrades

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

Institutional Trading of Immunovant

Large investors have recently made changes to their positions in the company. FMR LLC grew its holdings in Immunovant by 19.6% during the 3rd quarter. FMR LLC now owns 12,537,571 shares of the company’s stock worth $357,446,000 after acquiring an additional 2,053,688 shares in the last quarter. Armistice Capital LLC grew its stake in shares of Immunovant by 57.0% during the second quarter. Armistice Capital LLC now owns 3,396,909 shares of the company’s stock worth $89,678,000 after purchasing an additional 1,232,909 shares in the last quarter. State Street Corp increased its holdings in Immunovant by 11.2% in the third quarter. State Street Corp now owns 3,022,342 shares of the company’s stock valued at $86,167,000 after buying an additional 303,386 shares during the last quarter. Geode Capital Management LLC increased its holdings in Immunovant by 6.9% in the third quarter. Geode Capital Management LLC now owns 1,510,926 shares of the company’s stock valued at $43,085,000 after buying an additional 96,924 shares during the last quarter. Finally, Baker BROS. Advisors LP raised its stake in Immunovant by 163.7% in the third quarter. Baker BROS. Advisors LP now owns 1,225,410 shares of the company’s stock valued at $34,936,000 after buying an additional 760,692 shares in the last quarter. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

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.