Insider Selling: Immunovant, Inc. (NASDAQ:IMVT) CEO Sells $257,857.65 in Stock

Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann sold 8,685 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $29.69, for a total transaction of $257,857.65. Following the completion of the sale, the chief executive officer now directly owns 1,023,412 shares in the company, valued at approximately $30,385,102.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, July 9th, Peter Salzmann sold 4,619 shares of Immunovant stock. The shares were sold at an average price of $28.06, for a total transaction of $129,609.14.
• On Wednesday, May 22nd, Peter Salzmann sold 16,163 shares of Immunovant stock. The shares were sold at an average price of $29.65, for a total transaction of $479,232.95.

Immunovant Trading Down 1.5 %

IMVT stock opened at $27.97 on Monday. Immunovant, Inc. has a one year low of $18.82 and a one year high of $45.58. The firm has a market capitalization of $4.09 billion, a PE ratio of -14.72 and a beta of 0.67. The firm has a 50-day moving average of $27.84 and a two-hundred day moving average of $31.93.

Immunovant (NASDAQ:IMVT) last posted 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 quarter in the prior year, the firm earned ($0.46) EPS. On average, equities research analysts anticipate that Immunovant, Inc. will post -2.11 earnings per share for the current year.

Institutional Investors Weigh In On Immunovant

Institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC acquired a new stake in Immunovant during the fourth quarter worth $27,000. Assetmark Inc. acquired a new stake in Immunovant during the fourth quarter worth $61,000. EntryPoint Capital LLC boosted its stake in Immunovant by 288.8% during the first quarter. EntryPoint Capital LLC now owns 2,912 shares of the company’s stock worth $94,000 after buying an additional 2,163 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Immunovant during the fourth quarter worth $212,000. Finally, CoreCap Advisors LLC boosted its stake in Immunovant by 11.2% during the fourth quarter. CoreCap Advisors LLC now owns 6,407 shares of the company’s stock worth $270,000 after buying an additional 647 shares in the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

Wall Street Analyst Weigh In

IMVT has been the subject of a number of recent analyst reports. Truist Financial reiterated a “buy” rating and issued a $48.00 target price on shares of Immunovant in a research report on Monday, March 25th. HC Wainwright reiterated a “buy” rating and issued a $51.00 target price on shares of Immunovant in a research report on Thursday, May 30th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunovant in a research report on Tuesday, June 18th. Finally, Oppenheimer decreased their target price on shares of Immunovant from $50.00 to $46.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. Fifteen research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $49.73.

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.