Insider Selling: Immunovant, Inc. (NASDAQ:IMVT) Insider Sells $34,741.71 in Stock

Immunovant, Inc. (NASDAQ:IMVT) insider Michael Geffner sold 2,349 shares of Immunovant stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $14.79, for a total transaction of $34,741.71. Following the completion of the sale, the insider now directly owns 225,370 shares in the company, valued at $3,333,222.30. This trade represents a 1.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Immunovant Stock Performance

IMVT opened at $14.72 on Monday. Immunovant, Inc. has a 52-week low of $12.72 and a 52-week high of $34.47. The stock has a market capitalization of $2.50 billion, a PE ratio of -5.62 and a beta of 0.81. The stock’s 50 day moving average price is $17.50 and its 200-day moving average price is $23.02.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings data on Monday, February 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.08). Research analysts forecast that Immunovant, Inc. will post -2.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Jefferies Financial Group assumed coverage on Immunovant in a report on Monday, March 3rd. They issued a “hold” rating and a $20.00 price objective for the company. Bank of America cut their target price on Immunovant from $38.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. UBS Group reiterated a “neutral” rating and set a $17.00 price target (down previously from $38.00) on shares of Immunovant in a research report on Tuesday, April 22nd. Wolfe Research downgraded Immunovant from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Finally, Cantor Fitzgerald upgraded Immunovant to a “strong-buy” rating in a research report on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.33.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of IMVT. FNY Investment Advisers LLC purchased a new position in Immunovant in the first quarter worth about $34,000. GF Fund Management CO. LTD. bought a new stake in Immunovant during the fourth quarter valued at approximately $76,000. KBC Group NV grew its position in Immunovant by 60.1% during the fourth quarter. KBC Group NV now owns 3,099 shares of the company’s stock valued at $77,000 after buying an additional 1,163 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Immunovant by 21.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,928 shares of the company’s stock valued at $109,000 after buying an additional 1,037 shares during the period. Finally, Ameriprise Financial Inc. bought a new position in shares of Immunovant in the fourth quarter worth approximately $221,000. 47.08% of the stock is owned by hedge funds and other institutional investors.

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.