Tuyl Christopher Van Sells 17,824 Shares of Immunovant (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) insider Tuyl Christopher Van sold 17,824 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $38.31, for a total value of $682,837.44. Following the completion of the transaction, the insider directly owned 180,597 shares of the company’s stock, valued at $6,918,671.07. This represents a 8.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, April 8th, Tuyl Christopher Van sold 5,165 shares of Immunovant stock. The stock was sold at an average price of $24.83, for a total transaction of $128,246.95.

Immunovant Trading Up 1.6%

IMVT traded up $0.61 during trading on Friday, reaching $38.85. 3,718,031 shares of the company’s stock were exchanged, compared to its average volume of 1,598,367. Immunovant, Inc. has a one year low of $14.32 and a one year high of $39.28. The stock has a market capitalization of $7.98 billion, a PE ratio of -13.97 and a beta of 0.76. The firm has a fifty day moving average price of $31.24 and a two-hundred day moving average price of $27.69.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings results on Wednesday, May 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.13). During the same quarter in the previous year, the business posted ($0.64) EPS. Sell-side analysts expect that Immunovant, Inc. will post -2.65 earnings per share for the current year.

Hedge Funds Weigh In On Immunovant

Hedge funds have recently bought and sold shares of the company. Geneos Wealth Management Inc. bought a new stake in Immunovant during the fourth quarter valued at $25,000. Strs Ohio acquired a new position in shares of Immunovant in the 1st quarter valued at about $27,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Immunovant in the 3rd quarter valued at about $33,000. PNC Financial Services Group Inc. boosted its position in shares of Immunovant by 138.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,831 shares of the company’s stock valued at $46,000 after purchasing an additional 1,646 shares in the last quarter. Finally, Quarry LP boosted its position in shares of Immunovant by 94.9% during the 4th quarter. Quarry LP now owns 3,000 shares of the company’s stock valued at $76,000 after purchasing an additional 1,461 shares in the last quarter. Institutional investors own 47.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on IMVT shares. Citigroup restated a “buy” rating on shares of Immunovant in a report on Thursday, May 21st. HC Wainwright lifted their target price on Immunovant from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immunovant in a research report on Wednesday, April 8th. The Goldman Sachs Group increased their price target on Immunovant from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, April 15th. Finally, Truist Financial raised their price objective on Immunovant from $23.00 to $30.00 and gave the stock a “hold” rating in a research report on Friday, May 22nd. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $37.33.

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.