Insider Selling: Immunovant, Inc. (NASDAQ:IMVT) CEO Sells 4,619 Shares of Stock

Immunovant, Inc. (NASDAQ:IMVTGet Free Report) CEO Peter Salzmann sold 4,619 shares of the business’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $28.06, for a total value of $129,609.14. Following the sale, the chief executive officer now directly owns 1,032,097 shares of the company’s stock, valued at $28,960,641.82. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Peter Salzmann also recently made the following trade(s):

  • On Wednesday, May 22nd, Peter Salzmann sold 16,163 shares of Immunovant stock. The shares were sold at an average price of $29.65, for a total transaction of $479,232.95.
  • On Wednesday, April 17th, Peter Salzmann sold 34,079 shares of Immunovant stock. The stock was sold at an average price of $29.06, for a total transaction of $990,335.74.

Immunovant Price Performance

Shares of Immunovant stock traded up $0.65 on Wednesday, hitting $30.35. The company had a trading volume of 1,037,272 shares, compared to its average volume of 1,197,848. Immunovant, Inc. has a twelve month low of $18.82 and a twelve month high of $45.58. The stock has a 50-day moving average of $27.75 and a 200-day moving average of $32.61. The firm has a market capitalization of $4.44 billion, a P/E ratio of -15.97 and a beta of 0.67.

Immunovant (NASDAQ:IMVTGet Free Report) last released its earnings results on Wednesday, May 29th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.08). During the same period in the previous year, the company posted ($0.46) earnings per share. Equities analysts predict that Immunovant, Inc. will post -2.11 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on IMVT shares. Truist Financial reaffirmed a “buy” rating and set a $48.00 target price on shares of Immunovant in a report on Monday, March 25th. Oppenheimer decreased their price objective on Immunovant from $50.00 to $46.00 and set an “outperform” rating for the company in a research note on Monday, June 3rd. HC Wainwright reissued a “buy” rating and issued a $51.00 target price on shares of Immunovant in a research note on Thursday, May 30th. Cantor Fitzgerald restated an “overweight” rating on shares of Immunovant in a research report on Tuesday, June 18th. Finally, The Goldman Sachs Group began coverage on shares of Immunovant in a research report on Wednesday, March 13th. They issued a “buy” rating and a $50.00 price target on the stock. Seventeen investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $48.75.

Get Our Latest Report on IMVT

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Immunovant by 11.2% during the 1st quarter. Vanguard Group Inc. now owns 6,478,304 shares of the company’s stock worth $209,314,000 after buying an additional 650,506 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Immunovant during the fourth quarter worth about $112,356,000. Alpine Global Management LLC boosted its position in Immunovant by 34.6% during the first quarter. Alpine Global Management LLC now owns 1,882,704 shares of the company’s stock valued at $60,830,000 after purchasing an additional 484,332 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Immunovant by 16.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,862,043 shares of the company’s stock valued at $60,163,000 after purchasing an additional 259,481 shares in the last quarter. Finally, Armistice Capital LLC grew its stake in Immunovant by 38.6% in the fourth quarter. Armistice Capital LLC now owns 1,436,000 shares of the company’s stock valued at $60,499,000 after purchasing an additional 400,123 shares in the last quarter. Institutional investors own 47.08% of the company’s stock.

About Immunovant

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Immunovant (NASDAQ:IMVT)

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