Insider Selling: Immunovant, Inc. (NASDAQ:IMVT) CFO Sells 4,174 Shares of Stock

Immunovant, Inc. (NASDAQ:IMVT) CFO Eva Renee Barnett sold 4,174 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $25.45, for a total value of $106,228.30. Following the completion of the sale, the chief financial officer now owns 331,169 shares of the company’s stock, valued at approximately $8,428,251.05. This trade represents a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 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 transaction of $94,172.09.
• On Wednesday, October 9th, Eva Renee Barnett sold 5,162 shares of Immunovant stock. The stock was sold at an average price of $29.56, for a total transaction of $152,588.72.

Immunovant Stock Up 1.2 %

Shares of NASDAQ IMVT traded up $0.33 during midday trading on Friday, hitting $26.87. The stock had a trading volume of 506,149 shares, compared to its average volume of 1,078,173. The business’s 50 day moving average is $29.14 and its 200-day moving average is $28.93. Immunovant, Inc. has a 52 week low of $24.61 and a 52 week high of $45.58. The company has a market cap of $3.94 billion, a P/E ratio of -11.95 and a beta of 0.66.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.15). During the same quarter last year, the company earned ($0.45) earnings per share. As a group, analysts expect that Immunovant, Inc. will post -2.7 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunovant in a research note on Monday, September 9th. UBS Group dropped their price target on Immunovant from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. HC Wainwright reiterated a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a report on Friday, November 8th. Oppenheimer boosted their target price on shares of Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Immunovant from $51.00 to $46.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $48.10.

Institutional Investors Weigh In On Immunovant

Several large investors have recently bought and sold shares of IMVT. Assenagon Asset Management S.A. boosted its holdings in shares of Immunovant by 198.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 311,525 shares of the company’s stock valued at $8,224,000 after acquiring an additional 207,003 shares during the last quarter. Victory Capital Management Inc. lifted its position in Immunovant by 7.4% during the third quarter. Victory Capital Management Inc. now owns 335,360 shares of the company’s stock valued at $9,561,000 after purchasing an additional 22,990 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings 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 worth $60,163,000 after purchasing an additional 259,481 shares during the last quarter. Rubric Capital Management LP bought a new stake in Immunovant in the 2nd quarter worth approximately $1,548,000. Finally, Vanguard Group Inc. raised its stake in Immunovant by 11.2% during the 1st quarter. Vanguard Group Inc. now owns 6,478,304 shares of the company’s stock valued at $209,314,000 after buying an additional 650,506 shares during the last quarter. 47.08% of the stock is currently owned by institutional investors.

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.