Eva Renee Barnett Sells 4,105 Shares of Immunovant, Inc. (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) CFO Eva Renee Barnett sold 4,105 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $24.10, for a total transaction of $98,930.50. Following the transaction, the chief financial officer now directly owns 327,064 shares of the company’s stock, valued at approximately $7,882,242.40. This trade represents a 1.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Eva Renee Barnett also recently made the following trade(s):

• On Wednesday, November 20th, Eva Renee Barnett sold 4,174 shares of Immunovant stock. The shares were sold at an average price of $25.45, for a total value of $106,228.30.
• On Wednesday, November 20th, Eva Renee Barnett sold 4,174 shares of Immunovant stock. The stock was sold at an average price of $25.45, for a total value of $106,228.30.
• On Wednesday, October 16th, Eva Renee Barnett sold 3,271 shares of Immunovant stock. The shares were sold at an average price of $28.79, for a total value of $94,172.09.

Immunovant Trading Down 0.6 %

NASDAQ:IMVT opened at $23.48 on Friday. The stock has a 50 day moving average of $27.07 and a two-hundred day moving average of $28.59. Immunovant, Inc. has a 12 month low of $23.08 and a 12 month high of $43.92. The firm has a market cap of $3.45 billion, a P/E ratio of -10.58 and a beta of 0.66.

Immunovant (NASDAQ:IMVT) last issued its quarterly 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 period in the previous year, the firm posted ($0.45) earnings per share. On average, research analysts forecast that Immunovant, Inc. will post -2.73 earnings per share for the current year.

Institutional Investors Weigh In On Immunovant

Large investors have recently modified their holdings of the business. KBC Group NV boosted its position in Immunovant by 46.2% during the third 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 last quarter. Quest Partners LLC lifted its stake in Immunovant by 216.7% in the 2nd quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock worth $69,000 after purchasing an additional 1,786 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Immunovant during the 2nd quarter worth approximately $77,000. Assetmark Inc. grew its position in shares of Immunovant by 73.8% in the third 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. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Immunovant by 21.4% in the third 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. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Oppenheimer lifted their target price on shares of Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. HC Wainwright reiterated a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a research report on Friday, November 8th. Wells Fargo & Company dropped their target price 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 restated an “outperform” rating and issued a $36.00 price target on shares of Immunovant in a research note on Thursday, October 10th. Finally, Wolfe Research downgraded Immunovant from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $47.22.

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.