Insider Selling: Immunovant, Inc. (NASDAQ:IMVT) CFO Sells 4,105 Shares of Stock

Immunovant, Inc. (NASDAQ:IMVT) CFO Eva Renee Barnett sold 4,105 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $24.10, for a total transaction of $98,930.50. Following the completion of the transaction, the chief financial officer now owns 327,064 shares in the company, valued at $7,882,242.40. This represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Eva Renee Barnett also recently made the following trade(s):

• On Wednesday, November 20th, Eva Renee Barnett sold 4,174 shares of Immunovant stock. The shares were sold at an average price of $25.45, for a total transaction of $106,228.30.
• On Wednesday, November 20th, Eva Renee Barnett sold 4,174 shares of Immunovant stock. The stock was sold at an average price of $25.45, for a total value of $106,228.30.
• On Wednesday, October 16th, Eva Renee Barnett sold 3,271 shares of Immunovant stock. The shares were sold at an average price of $28.79, for a total value of $94,172.09.

Immunovant Stock Performance

Immunovant stock traded down $0.15 during midday trading on Friday, reaching $23.48. The stock had a trading volume of 832,137 shares, compared to its average volume of 630,140. The stock has a market capitalization of $3.45 billion, a P/E ratio of -10.58 and a beta of 0.66. The firm’s fifty day simple moving average is $27.19 and its 200-day simple moving average is $28.61. Immunovant, Inc. has a 1-year low of $23.08 and a 1-year high of $43.92.

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 business posted ($0.45) EPS. On average, sell-side analysts anticipate that Immunovant, Inc. will post -2.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on IMVT shares. Wolfe Research lowered Immunovant from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. 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. HC Wainwright reissued a “buy” rating and issued a $51.00 target price on shares of Immunovant in a research note on Friday, November 8th. Raymond James reaffirmed an “outperform” rating and set a $36.00 price target on shares of Immunovant in a research report on Thursday, October 10th. Finally, Wells Fargo & Company decreased their price objective on Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.22.

Institutional Investors Weigh In On Immunovant

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its holdings in shares of Immunovant by 7.4% in the 3rd quarter. Victory Capital Management Inc. now owns 335,360 shares of the company’s stock valued at $9,561,000 after acquiring an additional 22,990 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Immunovant by 19.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 552,430 shares of the company’s stock valued at $15,750,000 after purchasing an additional 91,259 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Immunovant by 69.9% during the 3rd quarter. Principal Financial Group Inc. now owns 951,124 shares of the company’s stock worth $27,117,000 after purchasing an additional 391,436 shares during the last quarter. Rubric Capital Management LP acquired a new position in shares of Immunovant during the 2nd quarter worth approximately $1,548,000. Finally, First Turn Management LLC raised its stake in shares of Immunovant by 35.6% during the 2nd quarter. First Turn Management LLC now owns 695,428 shares of the company’s stock worth $18,359,000 after purchasing an additional 182,535 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.

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.