Michael Geffner Sells 1,272 Shares of Immunovant (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) insider Michael Geffner sold 1,272 shares of the firm’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $16.30, for a total transaction of $20,733.60. Following the completion of the sale, the insider owned 220,553 shares in the company, valued at $3,595,013.90. This represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Michael Geffner also recently made the following trade(s):

• On Wednesday, July 23rd, Michael Geffner sold 2,385 shares of Immunovant stock. The shares were sold at an average price of $18.15, for a total transaction of $43,287.75.

Immunovant Stock Performance

Shares of Immunovant stock opened at $17.03 on Friday. The firm’s 50-day simple moving average is $15.73 and its 200-day simple moving average is $15.74. Immunovant, Inc. has a twelve month low of $12.72 and a twelve month high of $32.10. The firm has a market cap of $2.97 billion, a P/E ratio of -5.98 and a beta of 0.48.

Immunovant (NASDAQ:IMVT) last issued its earnings results on Monday, August 11th. The company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.09. During the same quarter last year, the business earned ($0.60) EPS. On average, equities analysts forecast that Immunovant, Inc. will post -2.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Immunovant

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strs Ohio bought a new position in shares of Immunovant in the first quarter worth about $27,000. FNY Investment Advisers LLC bought a new position in shares of Immunovant in the first quarter worth about $34,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Immunovant in the first quarter worth about $37,000. Farther Finance Advisors LLC raised its stake in shares of Immunovant by 142,750.0% in the second quarter. Farther Finance Advisors LLC now owns 2,857 shares of the company’s stock worth $46,000 after acquiring an additional 2,855 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Immunovant in the first quarter worth about $51,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. UBS Group lifted their target price on shares of Immunovant from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Immunovant in a research report on Saturday, September 27th. The Goldman Sachs Group upgraded shares of Immunovant to a “hold” rating and set a $18.00 price target on the stock in a research report on Thursday, July 10th. HC Wainwright restated a “buy” rating and issued a $35.00 price target on shares of Immunovant in a research report on Thursday, September 4th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Immunovant from $37.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $30.38.

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.