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

Immunovant, Inc. (NASDAQ:IMVT) insider Mark S. Levine sold 4,361 shares of the stock in a transaction 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 transaction, the insider now directly owns 322,878 shares in the company, valued at $9,534,587.34. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Immunovant Price Performance

Shares of IMVT opened at $30.22 on Friday. The company has a market capitalization of $4.42 billion, a P/E ratio of -15.66 and a beta of 0.66. Immunovant, Inc. has a one year low of $24.67 and a one year high of $45.58. The business’s 50 day simple moving average is $30.07 and its 200-day simple moving average is $28.93.

Immunovant (NASDAQ:IMVT) last announced its earnings results on Tuesday, August 6th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.07). During the same period in the prior year, the company posted ($0.57) earnings per share. On average, sell-side analysts anticipate that Immunovant, Inc. will post -2.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Immunovant

A number of institutional investors have recently modified their holdings of IMVT. Quest Partners LLC increased its holdings in shares of Immunovant by 216.7% in the second quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock valued at $69,000 after purchasing an additional 1,786 shares in the last quarter. EntryPoint Capital LLC boosted its position in Immunovant by 288.8% in the 1st quarter. EntryPoint Capital LLC now owns 2,912 shares of the company’s stock valued at $94,000 after buying an additional 2,163 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Immunovant in the 2nd quarter valued at $77,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Immunovant by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock worth $148,000 after acquiring an additional 934 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG acquired a new position in shares of Immunovant during the third quarter valued at $261,000. 47.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on IMVT. UBS Group cut their target price on shares of Immunovant from $42.00 to $41.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Raymond James restated an “outperform” rating and set a $36.00 target price on shares of Immunovant in a research note on Thursday, October 10th. Oppenheimer upped their target price on shares of Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. cut their price objective on shares of Immunovant from $51.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a research report on Monday, September 9th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $48.10.

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.