Insider Selling: Immunovant, Inc. (NASDAQ:IMVT) CFO Sells 2,298 Shares of Stock

Immunovant, Inc. (NASDAQ:IMVT) CFO Eva Renee Barnett sold 2,298 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $23.83, for a total value of $54,761.34. Following the transaction, the chief financial officer now directly owns 324,766 shares in the company, valued at approximately $7,739,173.78. This represents a 0.70 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Wednesday, January 8th, Eva Renee Barnett sold 4,105 shares of Immunovant stock. The stock was sold at an average price of $24.10, for a total value of $98,930.50.
• 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.

Immunovant Trading Up 0.3 %

NASDAQ:IMVT opened at $23.86 on Friday. Immunovant, Inc. has a 1 year low of $22.41 and a 1 year high of $41.38. The stock has a 50-day moving average price of $26.53 and a two-hundred day moving average price of $28.50. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of -10.75 and a beta of 0.66.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.15). During the same quarter last year, the business posted ($0.45) earnings per share. Sell-side analysts forecast that Immunovant, Inc. will post -2.75 earnings per share for the current year.

Wall Street Analyst Weigh In

IMVT has been the subject of several analyst reports. Raymond James reiterated an “outperform” rating and set a $36.00 price target on shares of Immunovant in a research report on Thursday, October 10th. Wolfe Research lowered shares of Immunovant from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Bank of America cut their price target on Immunovant from $48.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday. Wells Fargo & Company decreased their price objective on Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, HC Wainwright reissued a “buy” rating and issued a $51.00 target price on shares of Immunovant in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.00.

Institutional Investors Weigh In On Immunovant

Several large investors have recently made changes to their positions in the stock. KBC Group NV lifted its position in Immunovant by 46.2% in the 3rd quarter. KBC Group NV now owns 1,936 shares of the company’s stock valued at $55,000 after acquiring an additional 612 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Immunovant by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock worth $148,000 after purchasing an additional 934 shares in the last quarter. Assetmark Inc. raised its stake in shares of Immunovant by 73.8% in the 3rd quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock valued at $82,000 after purchasing an additional 1,228 shares during the period. Tyro Capital Management LLC lifted its holdings in shares of Immunovant by 0.6% in the third quarter. Tyro Capital Management LLC now owns 252,149 shares of the company’s stock valued at $7,189,000 after purchasing an additional 1,529 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its position in shares of Immunovant by 5.6% during the second quarter. Squarepoint Ops LLC now owns 49,288 shares of the company’s stock worth $1,301,000 after buying an additional 2,615 shares during the period. Institutional investors own 47.08% of the company’s stock.

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.