Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann Sells 9,095 Shares

Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann sold 9,095 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $28.79, for a total value of $261,845.05. Following the completion of the transaction, the chief executive officer now owns 994,789 shares of the company’s stock, valued at $28,639,975.31. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, October 9th, Peter Salzmann sold 4,460 shares of Immunovant stock. The stock was sold at an average price of $29.56, for a total value of $131,837.60.

Immunovant Stock Performance

Immunovant stock traded up $0.21 during mid-day trading on Friday, hitting $29.47. The company’s stock had a trading volume of 509,951 shares, compared to its average volume of 1,113,215. The company has a 50 day moving average of $30.09 and a 200-day moving average of $29.00. The stock has a market cap of $4.31 billion, a PE ratio of -15.40 and a beta of 0.66. Immunovant, Inc. has a one year low of $24.67 and a one year high of $45.58.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.07). During the same period last year, the company earned ($0.57) earnings per share. On average, equities research analysts forecast that Immunovant, Inc. will post -2.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a report on Monday, September 9th. Oppenheimer increased their price target on Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. HC Wainwright restated a “buy” rating and set a $51.00 price target on shares of Immunovant in a report on Monday, September 30th. JPMorgan Chase & Co. decreased their price target on Immunovant from $51.00 to $46.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Finally, Raymond James restated an “outperform” rating and set a $36.00 price target on shares of Immunovant in a report on Thursday, October 10th. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $48.91.

Hedge Funds Weigh In On Immunovant

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. DNB Asset Management AS boosted its holdings in Immunovant by 10.3% in the second quarter. DNB Asset Management AS now owns 10,290 shares of the company’s stock worth $271,000 after acquiring an additional 958 shares in the last quarter. Bamco Inc. NY increased its position in shares of Immunovant by 1.7% in the first quarter. Bamco Inc. NY now owns 60,000 shares of the company’s stock valued at $1,939,000 after buying an additional 1,000 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Immunovant by 9.4% during the first quarter. ProShare Advisors LLC now owns 19,877 shares of the company’s stock worth $642,000 after purchasing an additional 1,703 shares in the last quarter. Quest Partners LLC increased its position in shares of Immunovant by 216.7% during the second quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock worth $69,000 after purchasing an additional 1,786 shares in the last quarter. Finally, Sei Investments Co. increased its position in shares of Immunovant by 11.2% during the first quarter. Sei Investments Co. now owns 20,690 shares of the company’s stock worth $668,000 after purchasing an additional 2,085 shares in the last quarter. Institutional investors own 47.08% of the company’s stock.

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.