Immunovant (NASDAQ:IMVT) Director Robert Graham Susman Sells 2,502 Shares of Stock

Immunovant, Inc. (NASDAQ:IMVT) Director Robert Graham Susman sold 2,502 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $27.17, for a total value of $67,979.34. Following the completion of the transaction, the director directly owned 36,394 shares in the company, valued at approximately $988,824.98. This trade represents a 6.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Immunovant Stock Performance

Shares of IMVT opened at $27.12 on Friday. Immunovant, Inc. has a 52-week low of $13.36 and a 52-week high of $30.09. The business’s 50 day moving average price is $26.09 and its two-hundred day moving average price is $24.92. The firm has a market cap of $5.52 billion, a PE ratio of -10.08 and a beta of 0.70.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings results on Friday, February 6th. The company reported ($0.61) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.11. During the same period last year, the business earned ($0.76) earnings per share. Research analysts predict that Immunovant, Inc. will post -2.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Immunovant

Several institutional investors have recently bought and sold shares of IMVT. RTW Investments LP bought a new stake in Immunovant during the fourth quarter worth $80,781,000. Morgan Stanley grew its holdings in Immunovant by 147.4% during the fourth quarter. Morgan Stanley now owns 4,846,385 shares of the company’s stock worth $123,195,000 after buying an additional 2,887,359 shares in the last quarter. ADAR1 Capital Management LLC grew its holdings in Immunovant by 319.0% during the third quarter. ADAR1 Capital Management LLC now owns 2,241,753 shares of the company’s stock worth $36,137,000 after buying an additional 1,706,687 shares in the last quarter. Logos Global Management LP grew its holdings in Immunovant by 400.0% during the fourth quarter. Logos Global Management LP now owns 1,375,000 shares of the company’s stock worth $34,952,000 after buying an additional 1,100,000 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Immunovant by 14.0% during the fourth quarter. Vanguard Group Inc. now owns 7,779,314 shares of the company’s stock worth $197,750,000 after buying an additional 952,504 shares in the last quarter. Institutional investors own 47.08% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on IMVT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immunovant in a research report on Wednesday, April 8th. HC Wainwright reaffirmed a “buy” rating and set a $35.00 target price on shares of Immunovant in a research report on Tuesday, February 10th. Truist Financial upped their target price on Immunovant from $16.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, January 8th. The Goldman Sachs Group upped their target price on Immunovant from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 15th. Finally, Wolfe Research raised Immunovant from a “peer perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research report on Tuesday, January 6th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $32.44.

About Immunovant

Immunovant Inc is a clinical-stage biopharmaceutical company focused on the development of novel monoclonal antibody therapies that target the neonatal Fc receptor (FcRn) to treat severe autoimmune diseases. By inhibiting FcRn, Immunovant’s approach is designed to reduce levels of pathogenic immunoglobulin G (IgG) antibodies, which play a central role in the pathology of disorders such as myasthenia gravis and immune thrombocytopenia.

The company’s lead asset, efgartigimod, is an engineered Fc fragment that selectively binds to FcRn, accelerating the degradation of circulating IgG.