Immunovant, Inc. (NASDAQ:IMVT) Insider Mark S. Levine Sells 3,650 Shares

Immunovant, Inc. (NASDAQ:IMVT) insider Mark S. Levine sold 3,650 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $25.45, for a total value of $92,892.50. Following the transaction, the insider now owns 319,228 shares in the company, valued at $8,124,352.60. This trade represents a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Immunovant Price Performance

IMVT opened at $26.87 on Friday. The stock’s 50 day moving average price is $29.08 and its 200 day moving average price is $28.90. The stock has a market cap of $3.94 billion, a P/E ratio of -12.10 and a beta of 0.66. Immunovant, Inc. has a 12 month low of $24.61 and a 12 month high of $45.58.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings results 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 period in the prior year, the company earned ($0.45) earnings per share. Equities analysts anticipate that Immunovant, Inc. will post -2.7 EPS for the current year.

Hedge Funds Weigh In On Immunovant

Several large investors have recently bought and sold shares of the stock. KBC Group NV lifted its stake in shares of Immunovant by 46.2% in the 3rd quarter. KBC Group NV now owns 1,936 shares of the company’s stock worth $55,000 after acquiring an additional 612 shares during the period. Quest Partners LLC increased its stake in shares of Immunovant by 216.7% during the second quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock valued at $69,000 after acquiring an additional 1,786 shares during the period. Headlands Technologies LLC bought a new stake in Immunovant during the second quarter worth approximately $77,000. Assetmark Inc. lifted its position in Immunovant by 73.8% in the third quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock worth $82,000 after purchasing an additional 1,228 shares during the period. Finally, EntryPoint Capital LLC boosted its stake in Immunovant by 288.8% during the 1st quarter. EntryPoint Capital LLC now owns 2,912 shares of the company’s stock valued at $94,000 after purchasing an additional 2,163 shares in the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on IMVT shares. Oppenheimer increased their target price on shares of Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. dropped their price objective on shares of Immunovant from $51.00 to $46.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunovant in a report on Monday, September 9th. HC Wainwright reaffirmed a “buy” rating and set a $51.00 target price on shares of Immunovant in a report on Friday, November 8th. Finally, 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. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $48.10.

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.