William L. Macias Sells 3,188 Shares of Immunovant, Inc. (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) insider William L. Macias sold 3,188 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $28.79, for a total value of $91,782.52. Following the transaction, the insider now directly owns 365,144 shares of the company’s stock, valued at $10,512,495.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Immunovant Price Performance

Shares of NASDAQ:IMVT opened at $29.47 on Friday. The stock has a market cap of $4.31 billion, a price-to-earnings ratio of -15.51 and a beta of 0.66. Immunovant, Inc. has a 12 month low of $24.67 and a 12 month high of $45.58. The stock’s 50 day moving average price is $30.09 and its 200 day moving average price is $28.97.

Immunovant (NASDAQ:IMVT) last posted 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 prior year, the company earned ($0.57) earnings per share. On average, sell-side analysts expect that Immunovant, Inc. will post -2.43 EPS for the current year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Immunovant

Several hedge funds and other institutional investors have recently bought and sold shares of IMVT. DNB Asset Management AS grew its stake in shares of Immunovant by 10.3% in the 2nd quarter. DNB Asset Management AS now owns 10,290 shares of the company’s stock worth $271,000 after purchasing an additional 958 shares during the last quarter. Bamco Inc. NY grew its position in Immunovant by 1.7% in the first quarter. Bamco Inc. NY now owns 60,000 shares of the company’s stock worth $1,939,000 after buying an additional 1,000 shares during the last quarter. ProShare Advisors LLC grew its position in Immunovant by 9.4% in the first quarter. ProShare Advisors LLC now owns 19,877 shares of the company’s stock worth $642,000 after buying an additional 1,703 shares during the last quarter. Quest Partners LLC lifted its position in shares of Immunovant by 216.7% during the 2nd quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock valued at $69,000 after acquiring an additional 1,786 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Immunovant by 11.2% during the 1st quarter. Sei Investments Co. now owns 20,690 shares of the company’s stock worth $668,000 after acquiring an additional 2,085 shares in the last quarter. 47.08% of the stock is currently owned by 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.