Michael Geffner Sells 2,657 Shares of Immunovant, Inc. (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) insider Michael Geffner sold 2,657 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $23.59, for a total transaction of $62,678.63. Following the completion of the transaction, the insider now owns 132,314 shares in the company, valued at approximately $3,121,287.26. This trade represents a 1.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Immunovant Stock Down 1.5 %

IMVT stock opened at $23.05 on Friday. Immunovant, Inc. has a 52 week low of $22.41 and a 52 week high of $39.55. The business has a 50-day simple moving average of $25.85 and a 200 day simple moving average of $28.36. The company has a market cap of $3.38 billion, a PE ratio of -10.38 and a beta of 0.66.

Immunovant (NASDAQ:IMVT) last issued its earnings results on Thursday, November 7th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.15). During the same quarter in the prior year, the business posted ($0.45) EPS. On average, analysts anticipate that Immunovant, Inc. will post -2.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. KBC Group NV boosted its holdings in shares of Immunovant by 46.2% in the 3rd quarter. KBC Group NV now owns 1,936 shares of the company’s stock valued at $55,000 after purchasing an additional 612 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Immunovant by 73.8% in the 3rd quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock valued at $82,000 after purchasing an additional 1,228 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Immunovant by 21.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock valued at $148,000 after purchasing an additional 934 shares during the last quarter. Bank Pictet & Cie Europe AG acquired a new stake in Immunovant in the third quarter valued at approximately $261,000. Finally, Scientech Research LLC bought a new stake in shares of Immunovant during the second quarter worth $334,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IMVT has been the subject of a number of research analyst reports. Bank of America reduced 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. Oppenheimer upped their price objective on Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Wells Fargo & Company lowered their price objective on Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Raymond James reissued an “outperform” rating and issued a $36.00 target price on shares of Immunovant in a research report on Thursday, October 10th. Finally, Wolfe Research lowered shares of Immunovant from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Immunovant has an average rating of “Moderate Buy” and a consensus target price of $47.00.

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.