William L. Macias Sells 2,383 Shares of Immunovant, Inc. (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) insider William L. Macias sold 2,383 shares of Immunovant stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $23.83, for a total value of $56,786.89. Following the sale, the insider now directly owns 359,408 shares in the company, valued at $8,564,692.64. This trade represents a 0.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Immunovant Stock Up 0.3 %

IMVT opened at $23.86 on Friday. The business has a fifty day moving average of $26.39 and a 200 day moving average of $28.47. Immunovant, Inc. has a 52-week low of $22.41 and a 52-week high of $41.38. The stock has a market cap of $3.50 billion, a P/E ratio of -10.75 and a beta of 0.66.

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Immunovant

Large investors have recently bought and sold shares of the business. KBC Group NV raised its position 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 in the last quarter. Assetmark Inc. raised its position in Immunovant by 73.8% during the 3rd quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock valued at $82,000 after purchasing an additional 1,228 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position 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 valued at $148,000 after purchasing an additional 934 shares in the last quarter. Bank Pictet & Cie Europe AG bought a new stake in Immunovant during the 3rd quarter valued at $261,000. Finally, Farallon Capital Management LLC bought a new stake in Immunovant during the 2nd quarter valued at $317,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

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.