Peter Salzmann Sells 5,105 Shares of Immunovant, Inc. (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann sold 5,105 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $24.10, for a total value of $123,030.50. Following the transaction, the chief executive officer now directly owns 972,992 shares in the company, valued at $23,449,107.20. This trade represents a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Wednesday, November 20th, Peter Salzmann sold 16,692 shares of Immunovant stock. The shares were sold at an average price of $25.45, for a total transaction of $424,811.40.
• On Wednesday, November 20th, Peter Salzmann sold 16,692 shares of Immunovant stock. The stock was sold at an average price of $25.45, for a total transaction of $424,811.40.
• On Wednesday, October 16th, Peter Salzmann sold 9,095 shares of Immunovant stock. The shares were sold at an average price of $28.79, for a total transaction of $261,845.05.

Immunovant Price Performance

IMVT stock opened at $23.48 on Friday. The firm has a market capitalization of $3.45 billion, a P/E ratio of -10.58 and a beta of 0.66. Immunovant, Inc. has a 52-week low of $23.08 and a 52-week high of $43.92. The company’s 50 day simple moving average is $27.07 and its 200-day simple moving average is $28.59.

Immunovant (NASDAQ:IMVT) last released its earnings results on Thursday, November 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.15). During the same quarter in the prior year, the firm posted ($0.45) earnings per share. Sell-side analysts predict that Immunovant, Inc. will post -2.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Immunovant

Several institutional investors and hedge funds have recently bought and sold shares of IMVT. Victory Capital Management Inc. boosted its holdings in shares of Immunovant by 7.4% during the third quarter. Victory Capital Management Inc. now owns 335,360 shares of the company’s stock worth $9,561,000 after purchasing an additional 22,990 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Immunovant by 19.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 552,430 shares of the company’s stock worth $15,750,000 after buying an additional 91,259 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Immunovant by 69.9% during the 3rd quarter. Principal Financial Group Inc. now owns 951,124 shares of the company’s stock valued at $27,117,000 after buying an additional 391,436 shares during the period. Rubric Capital Management LP purchased a new position in shares of Immunovant during the 2nd quarter valued at $1,548,000. Finally, First Turn Management LLC increased its stake in shares of Immunovant by 35.6% in the second quarter. First Turn Management LLC now owns 695,428 shares of the company’s stock worth $18,359,000 after acquiring an additional 182,535 shares during the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $51.00 price target on shares of Immunovant in a research note on Friday, November 8th. Oppenheimer lifted their target price on Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Raymond James reiterated an “outperform” rating and issued a $36.00 price target on shares of Immunovant in a research report on Thursday, October 10th. Wolfe Research lowered shares of Immunovant from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company dropped their target price on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Immunovant has a consensus rating of “Moderate Buy” and an average price target of $47.22.

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.