Immunovant, Inc. (NASDAQ:IMVT) CEO Sells $208,917.61 in Stock

Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann sold 8,767 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $23.83, for a total transaction of $208,917.61. Following the completion of the transaction, the chief executive officer now owns 964,225 shares of the company’s stock, valued at approximately $22,977,481.75. The trade was a 0.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, January 8th, Peter Salzmann sold 5,105 shares of Immunovant stock. The stock was sold at an average price of $24.10, for a total value of $123,030.50.
• On Wednesday, November 20th, Peter Salzmann sold 16,692 shares of Immunovant stock. The shares were sold at an average price of $25.45, for a total value of $424,811.40.
• On Wednesday, November 20th, Peter Salzmann sold 16,692 shares of Immunovant stock. The shares were sold at an average price of $25.45, for a total transaction of $424,811.40.

Immunovant Trading Up 0.3 %

NASDAQ IMVT traded up $0.06 on Friday, reaching $23.86. 1,032,612 shares of the stock were exchanged, compared to its average volume of 1,051,056. Immunovant, Inc. has a one year low of $22.41 and a one year high of $41.38. The firm has a market capitalization of $3.50 billion, a PE ratio of -10.75 and a beta of 0.66. The company’s 50-day simple moving average is $26.53 and its two-hundred day simple moving average is $28.50.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.15). During the same quarter in the previous year, the company posted ($0.45) EPS. Sell-side analysts forecast that Immunovant, Inc. will post -2.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on IMVT shares. HC Wainwright reissued a “buy” rating and set a $51.00 price objective on shares of Immunovant in a report on Friday, November 8th. Wells Fargo & Company decreased their target price on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Wolfe Research downgraded Immunovant from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Oppenheimer lifted their price objective on Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Finally, Bank of America lowered their target price on Immunovant from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $47.00.

Hedge Funds Weigh In On Immunovant

Several hedge funds have recently modified their holdings of the stock. FMR LLC grew its stake in Immunovant by 19.6% during the third quarter. FMR LLC now owns 12,537,571 shares of the company’s stock valued at $357,446,000 after acquiring an additional 2,053,688 shares in the last quarter. Armistice Capital LLC lifted its position in shares of Immunovant by 57.0% in the second quarter. Armistice Capital LLC now owns 3,396,909 shares of the company’s stock worth $89,678,000 after buying an additional 1,232,909 shares in the last quarter. Baker BROS. Advisors LP boosted its stake in Immunovant by 163.7% during 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 during the last quarter. Principal Financial Group Inc. grew its holdings in Immunovant by 69.9% during the 3rd quarter. Principal Financial Group Inc. now owns 951,124 shares of the company’s stock valued at $27,117,000 after buying an additional 391,436 shares in the last quarter. Finally, State Street Corp increased its stake in Immunovant by 11.2% in the 3rd quarter. State Street Corp now owns 3,022,342 shares of the company’s stock worth $86,167,000 after acquiring an additional 303,386 shares during the last quarter. 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.