Immunovant (NASDAQ:IMVT) Insider Tuyl Christopher Van Sells 2,846 Shares of Stock

Immunovant, Inc. (NASDAQ:IMVT) insider Christopher Van Tuyl sold 2,846 shares of the firm’s stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $36.36, for a total transaction of $103,480.56. Following the sale, the insider owned 176,545 shares of the company’s stock, valued at $6,419,176.20. This trade represents a 1.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Tuyl Christopher Van also recently made the following trade(s):

• On Wednesday, July 8th, Christopher Van Tuyl sold 1,206 shares of Immunovant stock. The stock was sold at an average price of $39.55, for a total transaction of $47,697.30.

Immunovant Stock Down 2.1%

IMVT opened at $33.30 on Friday. The stock has a market cap of $6.88 billion, a price-to-earnings ratio of -11.81 and a beta of 0.81. Immunovant, Inc. has a twelve month low of $15.56 and a twelve month high of $45.42. The company’s 50-day moving average price is $39.75 and its two-hundred day moving average price is $33.89.

Immunovant (NASDAQ:IMVT) last released its earnings results on Thursday, August 6th. The company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.12). The firm had revenue of $7.09 million for the quarter, compared to analysts’ expectations of $7.09 million. During the same period in the prior year, the company earned ($0.71) earnings per share. As a group, sell-side analysts anticipate that Immunovant, Inc. will post -2.96 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. HC Wainwright reissued a “buy” rating on shares of Immunovant in a research report on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immunovant in a research note on Monday, July 6th. UBS Group reissued a “buy” rating on shares of Immunovant in a report on Wednesday. Sanford C. Bernstein upgraded Immunovant to a “hold” rating in a research note on Wednesday, July 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a report on Tuesday, August 25th. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $44.00.

Institutional Investors Weigh In On Immunovant

Hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC bought a new position in shares of Immunovant in the first quarter worth $4,782,000. GSA Capital Partners LLP purchased a new position in shares of Immunovant in the second quarter valued at $2,515,000. Pictet Asset Management Holding SA raised its stake in shares of Immunovant by 24.0% during the 1st quarter. Pictet Asset Management Holding SA now owns 472,381 shares of the company’s stock valued at $11,734,000 after purchasing an additional 91,539 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Immunovant during the 2nd quarter valued at $2,996,000. Finally, Legal & General Group Plc bought a new stake in shares of Immunovant during the 2nd quarter valued at $2,609,000. Institutional investors own 47.08% of the company’s stock.

Immunovant Company Profile

Immunovant, Inc (NASDAQ: IMVT) is a clinical-stage biopharmaceutical company developing therapies for patients with immune-mediated diseases. The company focuses on conditions in which disease-causing antibodies, or immunoglobulin G (IgG), play a central role, including autoimmune and inflammatory disorders.

Immunovant’s lead product candidate is batoclimab, an investigational fully human monoclonal antibody designed to block the neonatal Fc receptor (FcRn). By inhibiting FcRn, batoclimab is intended to reduce circulating IgG antibodies that can contribute to autoimmune disease.