Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann Sells 16,692 Shares

Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann sold 16,692 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $25.45, for a total value of $424,811.40. Following the completion of the sale, the chief executive officer now owns 978,097 shares in the company, valued at $24,892,568.65. The trade was a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, November 20th, Peter Salzmann sold 16,692 shares of Immunovant stock. The stock was sold at an average price of $25.45, for a total value of $424,811.40.
• On Wednesday, October 16th, Peter Salzmann sold 9,095 shares of Immunovant stock. The shares were sold at an average price of $28.79, for a total value of $261,845.05.
• On Wednesday, October 9th, Peter Salzmann sold 4,460 shares of Immunovant stock. The shares were sold at an average price of $29.56, for a total transaction of $131,837.60.

Immunovant Trading Up 1.2 %

NASDAQ IMVT traded up $0.33 during trading hours on Friday, hitting $26.87. 506,147 shares of the company’s stock traded hands, compared to its average volume of 1,078,173. Immunovant, Inc. has a 52 week low of $24.61 and a 52 week high of $45.58. The firm has a market capitalization of $3.94 billion, a P/E ratio of -11.95 and a beta of 0.66. The business’s fifty day moving average price is $29.14 and its two-hundred day moving average price is $28.93.

Immunovant (NASDAQ:IMVT) last released its earnings results on Thursday, November 7th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.15). During the same quarter in the prior year, the firm posted ($0.45) earnings per share. On average, sell-side analysts expect that Immunovant, Inc. will post -2.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Immunovant

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. lifted its holdings in shares of Immunovant by 11.2% in the first quarter. Sei Investments Co. now owns 20,690 shares of the company’s stock worth $668,000 after buying an additional 2,085 shares in the last quarter. Vanguard Group Inc. lifted its stake in Immunovant by 11.2% in the 1st quarter. Vanguard Group Inc. now owns 6,478,304 shares of the company’s stock worth $209,314,000 after purchasing an additional 650,506 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Immunovant by 106.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 12,331 shares of the company’s stock valued at $398,000 after purchasing an additional 6,344 shares during the last quarter. EntryPoint Capital LLC grew its position in shares of Immunovant by 288.8% during the first quarter. EntryPoint Capital LLC now owns 2,912 shares of the company’s stock valued at $94,000 after purchasing an additional 2,163 shares in the last quarter. Finally, Alpine Global Management LLC grew its position in shares of Immunovant by 34.6% during the first quarter. Alpine Global Management LLC now owns 1,882,704 shares of the company’s stock valued at $60,830,000 after purchasing an additional 484,332 shares in the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IMVT has been the topic of several recent analyst reports. HC Wainwright restated a “buy” rating and set a $51.00 price objective on shares of Immunovant in a research note on Friday, November 8th. JPMorgan Chase & Co. cut their price target on Immunovant from $51.00 to $46.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Oppenheimer raised their price target on Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. UBS Group reduced their price objective on Immunovant from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Immunovant in a report on Monday, September 9th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $48.10.

Immunovant Company Profile

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.