Immunovant, Inc. (NASDAQ:IMVT) Insider Sells $56,786.89 in Stock

Immunovant, Inc. (NASDAQ:IMVT) insider William L. Macias sold 2,383 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $23.83, for a total transaction of $56,786.89. Following the completion of the sale, the insider now owns 359,408 shares in the company, valued at $8,564,692.64. The trade was a 0.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Immunovant Stock Performance

Immunovant stock opened at $23.86 on Monday. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of -10.75 and a beta of 0.66. Immunovant, Inc. has a 1 year low of $22.41 and a 1 year high of $41.38. The firm’s 50 day moving average price is $26.39 and its two-hundred day moving average price is $28.48.

Immunovant (NASDAQ:IMVT) last issued 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 period last year, the business posted ($0.45) earnings per share. As a group, equities analysts predict that Immunovant, Inc. will post -2.75 EPS for the current fiscal year.

Hedge Funds Weigh In On Immunovant

A number of institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its holdings in shares of Immunovant by 19.6% in the third quarter. FMR LLC now owns 12,537,571 shares of the company’s stock worth $357,446,000 after buying an additional 2,053,688 shares during the period. Armistice Capital LLC lifted its position in shares of Immunovant by 57.0% in the 2nd quarter. Armistice Capital LLC now owns 3,396,909 shares of the company’s stock valued at $89,678,000 after acquiring an additional 1,232,909 shares in the last quarter. State Street Corp boosted its stake in Immunovant by 11.2% in the 3rd quarter. State Street Corp now owns 3,022,342 shares of the company’s stock worth $86,167,000 after purchasing an additional 303,386 shares during the period. Geode Capital Management LLC grew its position in Immunovant by 6.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,510,926 shares of the company’s stock worth $43,085,000 after purchasing an additional 96,924 shares in the last quarter. Finally, Baker BROS. Advisors LP raised its stake in Immunovant by 163.7% during the 3rd quarter. Baker BROS. Advisors LP now owns 1,225,410 shares of the company’s stock valued at $34,936,000 after purchasing an additional 760,692 shares during the period. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Analysts Set New Price Targets

IMVT has been the subject of a number of recent analyst reports. Bank of America decreased their price objective on Immunovant from $48.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. HC Wainwright reissued a “buy” rating and set a $51.00 price target on shares of Immunovant in a report on Friday, November 8th. Oppenheimer upped their price objective on shares of Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Raymond James reissued an “outperform” rating and set a $36.00 target price on shares of Immunovant in a research note on Thursday, October 10th. Finally, Wells Fargo & Company reduced their price target on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Immunovant currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.00.

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.