Immunovant, Inc. (NASDAQ:IMVT) CEO Sells $131,837.60 in Stock

Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann sold 4,460 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $29.56, for a total transaction of $131,837.60. Following the completion of the transaction, the chief executive officer now owns 1,003,884 shares in the company, valued at approximately $29,674,811.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, July 17th, Peter Salzmann sold 8,685 shares of Immunovant stock. The stock was sold at an average price of $29.69, for a total transaction of $257,857.65.

Immunovant Price Performance

Shares of NASDAQ:IMVT traded up $0.47 during midday trading on Friday, hitting $30.40. The company had a trading volume of 493,775 shares, compared to its average volume of 1,115,879. Immunovant, Inc. has a 12-month low of $24.67 and a 12-month high of $45.58. The company has a fifty day moving average of $29.90 and a two-hundred day moving average of $29.09. The company has a market cap of $4.45 billion, a price-to-earnings ratio of -15.75 and a beta of 0.66.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.07). During the same period last year, the firm posted ($0.57) earnings per share. Research analysts expect that Immunovant, Inc. will post -2.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunovant in a report on Monday, September 9th. JPMorgan Chase & Co. decreased their target price on Immunovant from $51.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $51.00 price target on shares of Immunovant in a report on Monday, September 30th. Raymond James reissued an “outperform” rating and set a $36.00 price objective on shares of Immunovant in a report on Thursday. Finally, Oppenheimer increased their price objective on shares of Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $48.58.

Hedge Funds Weigh In On Immunovant

Several large investors have recently added to or reduced their stakes in IMVT. Exchange Traded Concepts LLC raised its position in shares of Immunovant by 53.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 27,122 shares of the company’s stock valued at $773,000 after purchasing an additional 9,438 shares during the period. Handelsbanken Fonder AB raised its holdings in Immunovant by 29.0% during the third quarter. Handelsbanken Fonder AB now owns 20,900 shares of the company’s stock valued at $596,000 after acquiring an additional 4,700 shares during the period. Algert Global LLC lifted its position in shares of Immunovant by 134.1% in the second quarter. Algert Global LLC now owns 120,938 shares of the company’s stock valued at $3,193,000 after acquiring an additional 69,278 shares in the last quarter. Scientech Research LLC bought a new position in shares of Immunovant in the second quarter worth about $334,000. Finally, Armistice Capital LLC grew its position in shares of Immunovant by 57.0% during the second quarter. Armistice Capital LLC now owns 3,396,909 shares of the company’s stock worth $89,678,000 after purchasing an additional 1,232,909 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

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.