Eva Renee Barnett Sells 2,993 Shares of Immunovant, Inc. (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) CFO Eva Renee Barnett sold 2,993 shares of the firm’s stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $14.89, for a total value of $44,565.77. Following the transaction, the chief financial officer now owns 396,774 shares in the company, valued at approximately $5,907,964.86. This trade represents a 0.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Immunovant Stock Performance

Shares of Immunovant stock traded up $0.31 on Thursday, hitting $15.15. The stock had a trading volume of 1,040,222 shares, compared to its average volume of 1,191,930. Immunovant, Inc. has a twelve month low of $12.72 and a twelve month high of $34.47. The firm has a market capitalization of $2.57 billion, a P/E ratio of -5.78 and a beta of 0.81. The stock has a 50 day moving average of $18.22 and a 200 day moving average of $23.82.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings results on Monday, February 10th. The company reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.08). Equities analysts expect that Immunovant, Inc. will post -2.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IMVT has been the topic of a number of recent analyst reports. HC Wainwright restated a “buy” rating and issued a $51.00 price target on shares of Immunovant in a research report on Wednesday, March 19th. Guggenheim restated a “buy” rating on shares of Immunovant in a research report on Thursday, March 20th. Jefferies Financial Group started coverage on shares of Immunovant in a research report on Monday, March 3rd. They set a “hold” rating and a $20.00 price target on the stock. Cantor Fitzgerald upgraded shares of Immunovant to a “strong-buy” rating in a research report on Tuesday, March 4th. Finally, Wells Fargo & Company cut their target price on 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, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $41.00.

Hedge Funds Weigh In On Immunovant

A number of hedge funds have recently made changes to their positions in IMVT. FNY Investment Advisers LLC bought a new position in Immunovant during the 1st quarter worth approximately $34,000. GF Fund Management CO. LTD. bought a new stake in Immunovant during the fourth quarter valued at $76,000. KBC Group NV grew its holdings in Immunovant by 60.1% during the 4th quarter. KBC Group NV now owns 3,099 shares of the company’s stock worth $77,000 after acquiring an additional 1,163 shares during the period. Ameriprise Financial Inc. bought a new position in shares of Immunovant in the 4th quarter worth about $221,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Immunovant in the 4th quarter valued at about $268,000. 47.08% of the stock is currently owned by institutional investors.

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.