Julia G. Butchko Sells 10,115 Shares of Immunovant, Inc. (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) insider Julia G. Butchko sold 10,115 shares of Immunovant stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $29.06, for a total value of $293,941.90. Following the sale, the insider now directly owns 451,627 shares of the company’s stock, valued at approximately $13,124,280.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Immunovant Stock Performance

Shares of NASDAQ:IMVT opened at $28.22 on Friday. The business has a fifty day moving average of $33.00 and a two-hundred day moving average of $36.05. Immunovant, Inc. has a 52-week low of $15.08 and a 52-week high of $45.58.

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

Institutional Trading of Immunovant

Several large investors have recently added to or reduced their stakes in IMVT. Comerica Bank purchased a new stake in Immunovant in the 3rd quarter valued at $26,000. Headlands Technologies LLC acquired a new position in shares of Immunovant in the 4th quarter valued at $27,000. Ensign Peak Advisors Inc lifted its stake in shares of Immunovant by 72.6% in the 3rd quarter. Ensign Peak Advisors Inc now owns 6,350 shares of the company’s stock valued at $35,000 after purchasing an additional 2,670 shares during the last quarter. UBS Group AG lifted its stake in shares of Immunovant by 205.7% in the 3rd quarter. UBS Group AG now owns 6,978 shares of the company’s stock valued at $39,000 after purchasing an additional 4,695 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of Immunovant by 2,558.1% in the 2nd quarter. Barclays PLC now owns 2,286 shares of the company’s stock valued at $43,000 after purchasing an additional 2,200 shares during the last quarter. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IMVT has been the subject of a number of research reports. Wolfe Research initiated coverage on Immunovant in a report on Thursday, February 15th. They set an “outperform” rating and a $55.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunovant in a report on Friday, January 12th. JPMorgan Chase & Co. started coverage on Immunovant in a report on Tuesday, February 20th. They issued an “overweight” rating and a $51.00 price target for the company. Oppenheimer started coverage on Immunovant in a report on Thursday, March 28th. They issued an “outperform” rating and a $50.00 price target for the company. Finally, Truist Financial reissued a “buy” rating and issued a $48.00 price target on shares of Immunovant in a report on Monday, March 25th. Seventeen analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target 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.