Peter Salzmann Sells 9,095 Shares of Immunovant, Inc. (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann sold 9,095 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $28.79, for a total value of $261,845.05. Following the completion of the sale, the chief executive officer now directly owns 994,789 shares in the company, valued at $28,639,975.31. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Wednesday, October 9th, Peter Salzmann sold 4,460 shares of Immunovant stock. The stock was sold at an average price of $29.56, for a total transaction of $131,837.60.

Immunovant Stock Performance

IMVT opened at $29.47 on Friday. The stock has a market capitalization of $4.31 billion, a PE ratio of -15.51 and a beta of 0.66. Immunovant, Inc. has a 1 year low of $24.67 and a 1 year high of $45.58. The company’s 50 day simple moving average is $30.09 and its 200 day simple moving average is $28.97.

Immunovant (NASDAQ:IMVT) last issued its earnings results on Tuesday, August 6th. The company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.07). During the same quarter in the previous year, the business posted ($0.57) earnings per share. As a group, sell-side analysts expect that Immunovant, Inc. will post -2.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Immunovant

Several hedge funds and other institutional investors have recently made changes to their positions in IMVT. Quest Partners LLC lifted its position in Immunovant by 216.7% during the 2nd quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock worth $69,000 after acquiring an additional 1,786 shares in the last quarter. EntryPoint Capital LLC lifted its holdings in Immunovant by 288.8% in the 1st quarter. EntryPoint Capital LLC now owns 2,912 shares of the company’s stock worth $94,000 after buying an additional 2,163 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Immunovant during the second quarter valued at about $77,000. DNB Asset Management AS lifted its stake in shares of Immunovant by 10.3% in the second quarter. DNB Asset Management AS now owns 10,290 shares of the company’s stock worth $271,000 after acquiring an additional 958 shares in the last quarter. Finally, Farallon Capital Management LLC purchased a new position in Immunovant in the second quarter valued at about $317,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on IMVT shares. HC Wainwright restated a “buy” rating and set a $51.00 target price on shares of Immunovant in a research report on Monday, September 30th. Oppenheimer upped their target price on Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunovant in a report on Monday, September 9th. UBS Group cut their price target on Immunovant from $42.00 to $41.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Finally, Raymond James reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Immunovant in a research note on Thursday, October 10th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $48.91.

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.