Immunovant, Inc. (NASDAQ:IMVT) CFO Eva Renee Barnett Sells 3,271 Shares

Immunovant, Inc. (NASDAQ:IMVT) CFO Eva Renee Barnett sold 3,271 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $28.79, for a total transaction of $94,172.09. Following the sale, the chief financial officer now directly owns 335,343 shares of the company’s stock, valued at approximately $9,654,524.97. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, October 9th, Eva Renee Barnett sold 5,162 shares of Immunovant stock. The shares were sold at an average price of $29.56, for a total value of $152,588.72.

Immunovant Stock Up 0.7 %

NASDAQ:IMVT opened at $29.47 on Friday. Immunovant, Inc. has a 52 week low of $24.67 and a 52 week high of $45.58. The company has a market cap of $4.31 billion, a PE ratio of -15.51 and a beta of 0.66. The business’s 50 day moving average is $30.09 and its two-hundred day moving average is $28.98.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.07). During the same period in the previous year, the business earned ($0.57) EPS. As a group, sell-side analysts expect that Immunovant, Inc. will post -2.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of IMVT. Armistice Capital LLC grew its position 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 acquiring an additional 1,232,909 shares during the last quarter. Vanguard Group Inc. grew its position in Immunovant by 11.2% in the 1st quarter. Vanguard Group Inc. now owns 6,478,304 shares of the company’s stock worth $209,314,000 after purchasing an additional 650,506 shares during the last quarter. Alpine Global Management LLC increased its stake in shares of Immunovant by 34.6% in the first quarter. Alpine Global Management LLC now owns 1,882,704 shares of the company’s stock valued at $60,830,000 after purchasing an additional 484,332 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Immunovant by 16.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,862,043 shares of the company’s stock valued at $60,163,000 after purchasing an additional 259,481 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Immunovant by 198.0% during the second quarter. Assenagon Asset Management S.A. now owns 311,525 shares of the company’s stock valued at $8,224,000 after purchasing an additional 207,003 shares during the period. 47.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on IMVT shares. UBS Group dropped their price objective on shares of Immunovant from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a research note on Monday, September 9th. HC Wainwright reissued a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a research report on Monday, September 30th. Raymond James reaffirmed an “outperform” rating and set a $36.00 target price on shares of Immunovant in a research report on Thursday, October 10th. Finally, 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. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $48.91.

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.