Immunovant (NASDAQ:IMVT) CTO Jay Stout Sells 2,520 Shares of Stock

Immunovant, Inc. (NASDAQ:IMVT) CTO Jay Stout sold 2,520 shares of the business’s stock in a transaction that occurred on Wednesday, October 22nd. The stock was sold at an average price of $19.03, for a total transaction of $47,955.60. Following the sale, the chief technology officer directly owned 200,814 shares in the company, valued at $3,821,490.42. The trade was a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Immunovant Stock Performance

IMVT stock opened at $18.94 on Friday. The company has a market capitalization of $3.30 billion, a P/E ratio of -6.65 and a beta of 0.48. The company has a fifty day moving average price of $16.27 and a 200-day moving average price of $15.90. Immunovant, Inc. has a 52-week low of $12.72 and a 52-week 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 for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.09. During the same period last year, the company earned ($0.60) earnings per share. As a group, sell-side analysts forecast that Immunovant, Inc. will post -2.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Immunovant

Institutional investors have recently added to or reduced their stakes in the business. Strs Ohio acquired a new stake in shares of Immunovant during the 1st quarter worth approximately $27,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Immunovant during the 1st quarter valued at $37,000. Farther Finance Advisors LLC boosted its stake in Immunovant by 142,750.0% during the second quarter. Farther Finance Advisors LLC now owns 2,857 shares of the company’s stock worth $46,000 after acquiring an additional 2,855 shares in the last quarter. Headlands Technologies LLC bought a new position in Immunovant during the first quarter worth $51,000. Finally, Covestor Ltd grew its holdings in Immunovant by 187.5% in the first quarter. Covestor Ltd now owns 3,764 shares of the company’s stock worth $64,000 after purchasing an additional 2,455 shares during the period. 47.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on IMVT shares. Citigroup restated a “buy” rating on shares of Immunovant in a research report on Monday, August 11th. The Goldman Sachs Group raised shares of Immunovant to a “hold” rating and set a $18.00 target price for the company in a research report on Thursday, July 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Immunovant in a report on Tuesday, October 14th. Truist Financial began coverage on shares of Immunovant in a research report on Tuesday, October 14th. They issued a “hold” rating and a $16.00 price target on the stock. Finally, UBS Group upped their price objective on shares of Immunovant from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $28.78.

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.