Immunovant (NASDAQ:IMVT) COO Sells $298,226.12 in Stock

Immunovant, Inc. (NASDAQ:IMVT) COO Melanie Gloria sold 12,626 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $23.62, for a total transaction of $298,226.12. Following the completion of the sale, the chief operating officer directly owned 173,511 shares in the company, valued at approximately $4,098,329.82. The trade was a 6.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Immunovant Stock Down 0.9%

IMVT traded down $0.20 during midday trading on Friday, reaching $22.59. 1,885,153 shares of the company’s stock were exchanged, compared to its average volume of 1,549,924. The business has a 50-day simple moving average of $19.23 and a two-hundred day simple moving average of $17.00. The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of -7.95 and a beta of 0.60. Immunovant, Inc. has a one year low of $12.72 and a one year high of $29.49.

Immunovant (NASDAQ:IMVT) last issued its earnings results on Monday, November 10th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.01). During the same period last year, the business earned ($0.74) earnings per share. As a group, research analysts anticipate that Immunovant, Inc. will post -2.69 EPS for the current fiscal year.

Analyst Ratings Changes

IMVT has been the subject of a number of analyst reports. Truist Financial assumed coverage on Immunovant in a report on Tuesday, October 14th. They set a “hold” rating and a $16.00 price objective for the company. Bank of America cut their price target on shares of Immunovant from $33.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, August 12th. Citigroup restated a “buy” rating on shares of Immunovant in a research report on Monday, August 11th. UBS Group raised their price objective on shares of Immunovant from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, July 28th. Finally, JPMorgan Chase & Co. cut their target price on shares of Immunovant from $37.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Immunovant has an average rating of “Moderate Buy” and a consensus target price of $28.78.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Strs Ohio bought a new position in Immunovant in the 1st quarter valued at $27,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Immunovant during the third quarter valued at $33,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Immunovant during the first quarter valued at $37,000. Farther Finance Advisors LLC boosted its holdings in Immunovant by 142,750.0% in the second quarter. Farther Finance Advisors LLC now owns 2,857 shares of the company’s stock valued at $46,000 after acquiring an additional 2,855 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Immunovant by 138.9% in the third quarter. PNC Financial Services Group Inc. now owns 2,831 shares of the company’s stock worth $46,000 after purchasing an additional 1,646 shares during the period. Institutional investors own 47.08% of the company’s stock.

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.