Insider Selling: Immunovant, Inc. (NASDAQ:IMVT) Insider Sells $92,892.50 in Stock

Immunovant, Inc. (NASDAQ:IMVT) insider Mark S. Levine sold 3,650 shares of Immunovant stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $25.45, for a total value of $92,892.50. Following the completion of the sale, the insider now directly owns 319,228 shares in the company, valued at $8,124,352.60. This represents a 1.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Immunovant Stock Performance

Shares of NASDAQ:IMVT opened at $26.87 on Monday. Immunovant, Inc. has a 12-month low of $24.61 and a 12-month high of $45.58. The business has a 50 day moving average of $29.08 and a 200-day moving average of $28.90.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.15). During the same quarter in the prior year, the business posted ($0.45) EPS. As a group, analysts expect that Immunovant, Inc. will post -2.7 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on IMVT. Oppenheimer lifted their target price on Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. lowered their target price on Immunovant from $51.00 to $46.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Raymond James reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Immunovant in a research report on Thursday, October 10th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunovant in a report on Monday, September 9th. Finally, HC Wainwright reiterated a “buy” rating and set a $51.00 price target on shares of Immunovant in a report on Friday, November 8th. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $48.10.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Immunovant by 6.9% during the third quarter. Geode Capital Management LLC now owns 1,510,926 shares of the company’s stock worth $43,085,000 after buying an additional 96,924 shares in the last quarter. State Street Corp increased its holdings in shares of Immunovant by 11.2% during the third quarter. State Street Corp now owns 3,022,342 shares of the company’s stock worth $86,167,000 after buying an additional 303,386 shares in the last quarter. Baker BROS. Advisors LP increased its holdings in shares of Immunovant by 163.7% during the third quarter. Baker BROS. Advisors LP now owns 1,225,410 shares of the company’s stock worth $34,936,000 after buying an additional 760,692 shares in the last quarter. Erste Asset Management GmbH acquired a new position in shares of Immunovant during the third quarter worth $1,471,000. Finally, Advantage Alpha Capital Partners LP acquired a new position in shares of Immunovant during the third quarter worth $427,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

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.