Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann Sells 34,079 Shares

Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann sold 34,079 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $29.06, for a total value of $990,335.74. Following the completion of the sale, the chief executive officer now owns 1,052,879 shares in the company, valued at $30,596,663.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Peter Salzmann also recently made the following trade(s):

• On Tuesday, April 9th, Peter Salzmann sold 4,807 shares of Immunovant stock. The stock was sold at an average price of $31.18, for a total value of $149,882.26.

Immunovant Stock Performance

Shares of Immunovant stock opened at $28.22 on Friday. Immunovant, Inc. has a 1 year low of $15.08 and a 1 year high of $45.58. The business has a 50 day moving average price of $33.00 and a 200 day moving average price of $36.05.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings data on Monday, February 12th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.07. On average, analysts anticipate that Immunovant, Inc. will post -1.7 EPS for the current year.

Institutional Trading of Immunovant

Institutional investors have recently made changes to their positions in the stock. WCM Investment Management LLC purchased a new stake in shares of Immunovant during the 4th quarter valued at $4,548,000. AWM Investment Company Inc. purchased a new stake in shares of Immunovant during the 3rd quarter valued at $1,920,000. Wellington Management Group LLP purchased a new stake in shares of Immunovant during the 3rd quarter valued at $6,473,000. Citigroup Inc. grew its stake in shares of Immunovant by 43.3% during the 3rd quarter. Citigroup Inc. now owns 126,316 shares of the company’s stock valued at $4,849,000 after buying an additional 38,179 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Immunovant by 14.0% during the 3rd quarter. Vanguard Group Inc. now owns 6,233,146 shares of the company’s stock valued at $239,290,000 after buying an additional 764,530 shares during the period. 47.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Wolfe Research assumed coverage on Immunovant in a report on Thursday, February 15th. They set an “outperform” rating and a $55.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a report on Friday, January 12th. Oppenheimer assumed coverage on Immunovant in a report on Thursday, March 28th. They set an “outperform” rating and a $50.00 price objective on the stock. Truist Financial reaffirmed a “buy” rating and set a $48.00 price objective on shares of Immunovant in a report on Monday, March 25th. Finally, The Goldman Sachs Group started coverage on Immunovant in a report on Wednesday, March 13th. They set a “buy” rating and a $50.00 price objective on the stock. Seventeen equities 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 a consensus target price of $48.00.

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.