Immunovant, Inc. (NASDAQ:IMVT) Insider Mark S. Levine Sells 4,361 Shares of Stock

Immunovant, Inc. (NASDAQ:IMVT) insider Mark S. Levine sold 4,361 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $29.53, for a total transaction of $128,780.33. Following the sale, the insider now directly owns 322,878 shares in the company, valued at approximately $9,534,587.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Immunovant Trading Down 0.9 %

Shares of IMVT opened at $30.22 on Friday. Immunovant, Inc. has a 12-month low of $24.67 and a 12-month high of $45.58. The stock has a market cap of $4.42 billion, a P/E ratio of -15.66 and a beta of 0.66. The company has a 50-day moving average of $30.07 and a two-hundred day moving average of $28.94.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings data 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 period last year, the firm earned ($0.57) EPS. As a group, analysts forecast that Immunovant, Inc. will post -2.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IMVT has been the topic of several research analyst reports. HC Wainwright reiterated a “buy” rating and set a $51.00 price target on shares of Immunovant in a research note on Monday, September 30th. JPMorgan Chase & Co. reduced their target price on Immunovant from $51.00 to $46.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. UBS Group dropped their price target on Immunovant from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Oppenheimer boosted their price objective on Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Immunovant in a research report on Monday, September 9th. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $48.10.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in shares of Immunovant by 75.0% during the 4th quarter. Wellington Management Group LLP now owns 295,020 shares of the company’s stock worth $12,429,000 after acquiring an additional 126,412 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Immunovant by 51.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 65,091 shares of the company’s stock worth $2,103,000 after purchasing an additional 22,226 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Immunovant by 32.4% in the 1st quarter. Principal Financial Group Inc. now owns 582,721 shares of the company’s stock valued at $18,828,000 after purchasing an additional 142,606 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Immunovant by 98.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 71,788 shares of the company’s stock valued at $2,319,000 after purchasing an additional 35,589 shares during the last quarter. Finally, Sei Investments Co. grew its stake in shares of Immunovant by 11.2% during the 1st quarter. Sei Investments Co. now owns 20,690 shares of the company’s stock valued at $668,000 after buying an additional 2,085 shares during the period. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

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.