Immunovant (NASDAQ:IMVT) CTO Jay Stout Sells 1,585 Shares

Immunovant, Inc. (NASDAQ:IMVT) CTO Jay Stout sold 1,585 shares of the stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $16.30, for a total transaction of $25,835.50. Following the transaction, the chief technology officer owned 203,334 shares in the company, valued at approximately $3,314,344.20. This trade represents a 0.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Immunovant Trading Down 2.6%

NASDAQ IMVT opened at $17.03 on Friday. The company has a fifty day simple moving average of $15.73 and a 200 day simple moving average of $15.75. The company has a market cap of $2.97 billion, a P/E ratio of -5.98 and a beta of 0.48. Immunovant, Inc. has a 1 year low of $12.72 and a 1 year high of $32.10.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.09. During the same quarter in the prior year, the company earned ($0.60) EPS. Equities research analysts forecast that Immunovant, Inc. will post -2.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. raised its position in Immunovant by 21.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,928 shares of the company’s stock worth $109,000 after purchasing an additional 1,037 shares in the last quarter. EFG Asset Management North America Corp. raised its position in Immunovant by 76.2% in the first quarter. EFG Asset Management North America Corp. now owns 130,356 shares of the company’s stock worth $2,226,000 after purchasing an additional 56,375 shares in the last quarter. Two Seas Capital LP lifted its holdings in Immunovant by 8.7% during the 1st quarter. Two Seas Capital LP now owns 1,642,772 shares of the company’s stock valued at $28,075,000 after purchasing an additional 131,158 shares during the last quarter. Rhumbline Advisers lifted its holdings in Immunovant by 3.2% during the 1st quarter. Rhumbline Advisers now owns 83,555 shares of the company’s stock valued at $1,428,000 after purchasing an additional 2,623 shares during the last quarter. Finally, Woodline Partners LP lifted its holdings in Immunovant by 133.0% during the 1st quarter. Woodline Partners LP now owns 1,497,869 shares of the company’s stock valued at $25,599,000 after purchasing an additional 855,143 shares during the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Citigroup reaffirmed a “buy” rating on shares of Immunovant in a report on Monday, August 11th. JPMorgan Chase & Co. reduced their price target on shares of Immunovant from $37.00 to $33.00 and set an “overweight” rating for the company in a report on Tuesday, September 30th. Bank of America reduced their price target on shares of Immunovant from $33.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, August 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of Immunovant in a report on Saturday, September 27th. Finally, HC Wainwright reissued a “buy” rating and issued a $35.00 price target on shares of Immunovant in a report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.38.

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.