Andrew J. Fromkin Sells 8,000 Shares of Immunovant, Inc. (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) Director Andrew J. Fromkin sold 8,000 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $19.60, for a total transaction of $156,800.00. Following the completion of the sale, the director now directly owns 91,913 shares in the company, valued at approximately $1,801,494.80. This trade represents a 8.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Immunovant Trading Down 2.5 %

Shares of NASDAQ IMVT opened at $19.12 on Thursday. Immunovant, Inc. has a twelve month low of $17.65 and a twelve month high of $35.97. The firm has a 50-day moving average of $21.56 and a two-hundred day moving average of $26.26. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of -7.30 and a beta of 0.68.

Immunovant (NASDAQ:IMVT) last released its earnings results on Monday, February 10th. The company reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.08). As a group, research analysts predict that Immunovant, Inc. will post -2.69 earnings per share for the current year.

Institutional Investors Weigh In On Immunovant

A number of institutional investors and hedge funds have recently modified their holdings of the stock. GF Fund Management CO. LTD. acquired a new stake in shares of Immunovant during the fourth quarter worth $76,000. Two Seas Capital LP increased its stake in Immunovant by 123.4% in the 4th quarter. Two Seas Capital LP now owns 1,511,614 shares of the company’s stock worth $37,443,000 after purchasing an additional 835,000 shares in the last quarter. Vestal Point Capital LP acquired a new stake in Immunovant during the 4th quarter worth about $1,115,000. Twinbeech Capital LP purchased a new stake in Immunovant during the fourth quarter valued at about $314,000. Finally, Two Sigma Advisers LP acquired a new position in shares of Immunovant in the fourth quarter worth about $270,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on IMVT. Wells Fargo & Company cut their price target on Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Guggenheim reaffirmed a “buy” rating on shares of Immunovant in a research note on Monday. Jefferies Financial Group started coverage on Immunovant in a research note on Monday, March 3rd. They issued a “hold” rating and a $20.00 price target for the company. Wolfe Research lowered Immunovant from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, Bank of America reduced their price objective on shares of Immunovant from $48.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $43.55.

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.