Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann Sells 8,767 Shares

Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann sold 8,767 shares of Immunovant stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $23.83, for a total value of $208,917.61. Following the sale, the chief executive officer now directly owns 964,225 shares of the company’s stock, valued at $22,977,481.75. This represents a 0.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Wednesday, January 8th, Peter Salzmann sold 5,105 shares of Immunovant stock. The shares were 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 stock was 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 Price Performance

Shares of Immunovant stock opened at $23.86 on Friday. Immunovant, Inc. has a one year low of $22.41 and a one year high of $41.38. The business’s 50 day simple moving average is $26.39 and its two-hundred day simple moving average is $28.47. The stock has a market capitalization of $3.50 billion, a P/E ratio of -10.75 and a beta of 0.66.

Immunovant (NASDAQ:IMVT) last issued its earnings results 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 period in the prior year, the firm earned ($0.45) EPS. Sell-side analysts expect that Immunovant, Inc. will post -2.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on IMVT shares. Oppenheimer increased their price target on shares of Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Wolfe Research cut Immunovant from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. HC Wainwright reaffirmed a “buy” rating and set a $51.00 price target on shares of Immunovant in a research note on Friday, November 8th. Bank of America reduced their price objective on Immunovant from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Raymond James restated an “outperform” rating and issued a $36.00 target price on shares of Immunovant in a research report on Thursday, October 10th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $47.00.

Hedge Funds Weigh In On Immunovant

Several hedge funds and other institutional investors have recently modified their holdings of the company. KBC Group NV increased its holdings in Immunovant by 46.2% during the 3rd quarter. KBC Group NV now owns 1,936 shares of the company’s stock valued at $55,000 after purchasing an additional 612 shares during the period. Assetmark Inc. increased its stake in shares of Immunovant by 73.8% during the third quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock valued at $82,000 after buying an additional 1,228 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Immunovant by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock valued at $148,000 after acquiring an additional 934 shares in the last quarter. Bank Pictet & Cie Europe AG bought a new position in shares of Immunovant during the third quarter valued at approximately $261,000. Finally, Farallon Capital Management LLC purchased a new stake in Immunovant in the second quarter worth $317,000. 47.08% of the stock is 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.