Immunovant, Inc. (NASDAQ:IMVT) Insider Sells $62,678.63 in Stock

Immunovant, Inc. (NASDAQ:IMVT) insider Michael Geffner sold 2,657 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $23.59, for a total value of $62,678.63. Following the sale, the insider now owns 132,314 shares in the company, valued at approximately $3,121,287.26. This trade represents a 1.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Immunovant Stock Down 1.5 %

Shares of NASDAQ IMVT opened at $23.05 on Monday. The stock has a market capitalization of $3.38 billion, a PE ratio of -10.38 and a beta of 0.66. The firm has a fifty day moving average of $25.85 and a 200-day moving average of $28.35. Immunovant, Inc. has a 52-week low of $22.41 and a 52-week high of $39.55.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings results 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 previous year, the firm earned ($0.45) earnings per share. Equities research analysts expect that Immunovant, Inc. will post -2.75 EPS for the current fiscal year.

Institutional Trading of Immunovant

Institutional investors have recently modified their holdings of the company. KBC Group NV lifted its position in Immunovant by 46.2% during the third quarter. KBC Group NV now owns 1,936 shares of the company’s stock valued at $55,000 after buying an additional 612 shares in the last quarter. Assetmark Inc. raised its stake in shares of Immunovant by 73.8% in the 3rd quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock valued at $82,000 after acquiring an additional 1,228 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of 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 acquiring an additional 934 shares in the last quarter. Bank Pictet & Cie Europe AG purchased a new stake in Immunovant during the 3rd quarter worth $261,000. Finally, Scientech Research LLC purchased a new stake in Immunovant during the 2nd quarter worth $334,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IMVT. Wells Fargo & Company reduced their price objective on Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Bank of America decreased their price target on shares of Immunovant from $48.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. Oppenheimer boosted their price objective on shares of Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Raymond James restated an “outperform” rating and set a $36.00 target price on shares of Immunovant in a research report on Thursday, October 10th. Finally, Wolfe Research cut shares of Immunovant from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Immunovant currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

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.