Jay S. Stout Sells 2,195 Shares of Immunovant, Inc. (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) CTO Jay S. Stout sold 2,195 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $23.59, for a total value of $51,780.05. Following the sale, the chief technology officer now directly owns 139,991 shares of the company’s stock, valued at $3,302,387.69. This represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Immunovant Stock Performance

Shares of Immunovant stock opened at $23.05 on Friday. The firm has a fifty day moving average of $25.85 and a two-hundred day moving average of $28.36. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of -10.38 and a beta of 0.66. Immunovant, Inc. has a 52 week low of $22.41 and a 52 week high of $39.55.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.15). During the same quarter last year, the company posted ($0.45) earnings per share. As a group, research analysts forecast that Immunovant, Inc. will post -2.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. KBC Group NV increased its stake in Immunovant by 46.2% in the third quarter. KBC Group NV now owns 1,936 shares of the company’s stock valued at $55,000 after purchasing an additional 612 shares in the last quarter. Assetmark Inc. increased its position in shares of Immunovant by 73.8% in the 3rd quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock valued at $82,000 after buying an additional 1,228 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Immunovant by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock worth $148,000 after buying an additional 934 shares during the period. Bank Pictet & Cie Europe AG bought a new position in Immunovant during the third quarter worth about $261,000. Finally, Scientech Research LLC acquired a new position in Immunovant in the second quarter valued at about $334,000. Institutional investors own 47.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Oppenheimer raised their target price on Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Raymond James restated an “outperform” rating and issued a $36.00 price objective on shares of Immunovant in a research report on Thursday, October 10th. Wells Fargo & Company reduced their target price on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Bank of America lowered their price target on shares of Immunovant from $48.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $51.00 price objective on shares of Immunovant in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $47.00.

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.