Immunovant (NASDAQ:IMVT) Director Atul Pande Sells 3,000 Shares of Stock

Immunovant, Inc. (NASDAQ:IMVT) Director Atul Pande sold 3,000 shares of the firm’s stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $36.00, for a total transaction of $108,000.00. Following the completion of the transaction, the director directly owned 116,731 shares of the company’s stock, valued at $4,202,316. This represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Atul Pande also recently made the following trade(s):

• On Friday, August 28th, Atul Pande sold 1,500 shares of Immunovant stock. The stock was sold at an average price of $43.27, for a total transaction of $64,905.00.

Immunovant Price Performance

NASDAQ IMVT traded down $1.99 on Thursday, hitting $35.05. 1,182,848 shares of the stock were exchanged, compared to its average volume of 1,515,397. The company has a market capitalization of $7.24 billion, a PE ratio of -13.69 and a beta of 0.95. The business’s fifty day moving average is $32.83 and its 200 day moving average is $32.26. Immunovant, Inc. has a 52 week low of $21.86 and a 52 week high of $45.42.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings data on Monday, November 9th. The company reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.27. During the same quarter in the prior year, the company posted ($0.73) earnings per share. Analysts predict that Immunovant, Inc. will post -2.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on IMVT shares. Truist Financial raised their target price on shares of Immunovant from $30.00 to $33.00 and gave the company a “hold” rating in a research note on Tuesday. Wells Fargo & Company boosted their price target on Immunovant from $45.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday. JPMorgan Chase & Co. upped their price objective on Immunovant from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Sanford C. Bernstein raised Immunovant to a “hold” rating in a research report on Wednesday, July 29th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Immunovant in a research report on Thursday, September 24th. Nine equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $44.60.

Institutional Investors Weigh In On Immunovant

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of Immunovant in the 2nd quarter valued at approximately $276,680,000. Two Seas Capital LP lifted its holdings in shares of Immunovant by 46.5% during the 3rd quarter. Two Seas Capital LP now owns 4,612,692 shares of the company’s stock worth $155,817,000 after acquiring an additional 1,464,187 shares during the period. Jennison Associates LLC boosted its position in shares of Immunovant by 356.4% during the 1st quarter. Jennison Associates LLC now owns 3,196,705 shares of the company’s stock worth $79,406,000 after acquiring an additional 2,496,241 shares in the last quarter. ADAR1 Capital Management LLC boosted its position in shares of Immunovant by 8.0% during the 1st quarter. ADAR1 Capital Management LLC now owns 2,679,010 shares of the company’s stock worth $66,547,000 after acquiring an additional 198,042 shares in the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of Immunovant during the 2nd quarter worth approximately $45,521,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Immunovant Company Profile

Immunovant, Inc. is a clinical-stage biopharmaceutical company developing treatments for autoimmune diseases. Its research focuses on inhibiting the neonatal Fc receptor (FcRn), a pathway involved in maintaining levels of disease-causing antibodies. The company’s investigational medicines include batoclimab and IMVT-1402, both designed to reduce circulating antibodies. Immunovant has studied or evaluated these candidates for conditions including myasthenia gravis, Graves’ disease and other autoimmune disorders.