Insider Selling: Immunovant, Inc. (NASDAQ:IMVT) Insider Sells 1,527 Shares of Stock

Immunovant, Inc. (NASDAQ:IMVTGet Free Report) insider Julia G. Butchko sold 1,527 shares of Immunovant stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $28.06, for a total value of $42,847.62. Following the sale, the insider now owns 446,853 shares in the company, valued at approximately $12,538,695.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Immunovant Price Performance

IMVT traded up $0.65 during trading on Wednesday, hitting $30.35. The company’s stock had a trading volume of 1,037,272 shares, compared to its average volume of 1,197,848. The firm’s 50 day moving average price is $27.75 and its 200-day moving average price is $32.61. The stock has a market cap of $4.44 billion, a PE ratio of -15.97 and a beta of 0.67. Immunovant, Inc. has a twelve month low of $18.82 and a twelve month high of $45.58.

Immunovant (NASDAQ:IMVTGet Free Report) last released its quarterly earnings data on Wednesday, May 29th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.08). During the same period last year, the business posted ($0.46) earnings per share. Equities analysts anticipate that Immunovant, Inc. will post -2.11 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on IMVT shares. Oppenheimer cut their target price on Immunovant from $50.00 to $46.00 and set an “outperform” rating on the stock in a research report on Monday, June 3rd. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunovant in a research note on Tuesday, June 18th. HC Wainwright reissued a “buy” rating and set a $51.00 price target on shares of Immunovant in a research note on Thursday, May 30th. Truist Financial reissued a “buy” rating and set a $48.00 price target on shares of Immunovant in a research note on Monday, March 25th. Finally, The Goldman Sachs Group started coverage on Immunovant in a research note on Wednesday, March 13th. They set a “buy” rating and a $50.00 price target on the stock. Seventeen research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Immunovant presently has a consensus rating of “Buy” and a consensus target price of $48.75.

Get Our Latest Stock Report on Immunovant

Hedge Funds Weigh In On Immunovant

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. DNB Asset Management AS boosted its position in Immunovant by 10.3% in the 2nd quarter. DNB Asset Management AS now owns 10,290 shares of the company’s stock valued at $271,000 after buying an additional 958 shares during the last quarter. Castleark Management LLC purchased a new position in Immunovant in the 1st quarter valued at about $2,599,000. Bamco Inc. NY boosted its position in Immunovant by 1.7% in the 1st quarter. Bamco Inc. NY now owns 60,000 shares of the company’s stock valued at $1,939,000 after buying an additional 1,000 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Immunovant by 16.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,862,043 shares of the company’s stock valued at $60,163,000 after buying an additional 259,481 shares during the last quarter. Finally, Tyro Capital Management LLC boosted its position in Immunovant by 117.0% in the 1st quarter. Tyro Capital Management LLC now owns 97,667 shares of the company’s stock valued at $3,156,000 after buying an additional 52,667 shares during the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

Immunovant Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Immunovant (NASDAQ:IMVT)

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