Mark S. Levine Sells 3,650 Shares of Immunovant, Inc. (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) insider Mark S. Levine sold 3,650 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $25.45, for a total transaction of $92,892.50. Following the completion of the transaction, the insider now directly owns 319,228 shares in the company, valued at $8,124,352.60. This represents a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Immunovant Stock Performance

Shares of NASDAQ IMVT opened at $26.87 on Friday. Immunovant, Inc. has a 1 year low of $24.61 and a 1 year high of $45.58. The company has a 50 day simple moving average of $29.08 and a 200-day simple moving average of $28.91.

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

Institutional Investors Weigh In On Immunovant

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC boosted its holdings in Immunovant by 19.6% during the third quarter. FMR LLC now owns 12,537,571 shares of the company’s stock worth $357,446,000 after buying an additional 2,053,688 shares in the last quarter. Armistice Capital LLC lifted its stake in shares of Immunovant by 57.0% during the second quarter. Armistice Capital LLC now owns 3,396,909 shares of the company’s stock valued at $89,678,000 after buying an additional 1,232,909 shares during the period. Baker BROS. Advisors LP lifted its stake in shares of Immunovant by 163.7% during the third quarter. Baker BROS. Advisors LP now owns 1,225,410 shares of the company’s stock valued at $34,936,000 after buying an additional 760,692 shares during the period. Vanguard Group Inc. increased its position in Immunovant by 11.2% during the first 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 during the last quarter. Finally, Alpine Global Management LLC increased its position in Immunovant by 34.6% during the first quarter. Alpine Global Management LLC now owns 1,882,704 shares of the company’s stock worth $60,830,000 after purchasing an additional 484,332 shares during the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.