Julia G. Butchko Sells 3,247 Shares of Immunovant, Inc. (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVTGet Free Report) insider Julia G. Butchko sold 3,247 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $29.65, for a total transaction of $96,273.55. Following the sale, the insider now directly owns 448,380 shares of the company’s stock, valued at $13,294,467. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Immunovant Stock Performance

Shares of NASDAQ IMVT traded up $0.56 during midday trading on Friday, reaching $28.95. 739,078 shares of the company traded hands, compared to its average volume of 1,145,916. Immunovant, Inc. has a 12 month low of $18.16 and a 12 month high of $45.58. The firm has a market cap of $4.21 billion, a PE ratio of -15.73 and a beta of 0.70. The stock’s 50-day simple moving average is $30.12 and its 200-day simple moving average is $35.07.

Institutional Trading of Immunovant

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asset Management L.P. acquired a new stake in Immunovant in the fourth quarter worth about $112,356,000. FMR LLC lifted its holdings in shares of Immunovant by 47.5% during the 3rd quarter. FMR LLC now owns 7,748,546 shares of the company’s stock valued at $297,467,000 after purchasing an additional 2,494,678 shares in the last quarter. Octagon Capital Advisors LP lifted its holdings in shares of Immunovant by 127.3% during the 4th quarter. Octagon Capital Advisors LP now owns 273,289 shares of the company’s stock valued at $11,514,000 after purchasing an additional 1,273,289 shares in the last quarter. Fred Alger Management LLC lifted its holdings in shares of Immunovant by 6,108.9% during the 3rd quarter. Fred Alger Management LLC now owns 1,186,031 shares of the company’s stock valued at $45,532,000 after purchasing an additional 1,166,929 shares in the last quarter. Finally, Armistice Capital LLC bought a new position in shares of Immunovant during the 3rd quarter valued at about $39,767,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on IMVT. Oppenheimer started coverage on shares of Immunovant in a research report on Thursday, March 28th. They issued an “outperform” rating and a $50.00 price target for the company. Wolfe Research initiated coverage on Immunovant in a research report on Thursday, February 15th. They issued an “outperform” rating and a $55.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on Immunovant in a research report on Tuesday, February 20th. They issued an “overweight” rating and a $51.00 price objective for the company. The Goldman Sachs Group started coverage on Immunovant in a research report on Wednesday, March 13th. They issued a “buy” rating and a $50.00 price objective for the company. Finally, Truist Financial reaffirmed a “buy” rating and issued a $48.00 target price on shares of Immunovant in a research report on Monday, March 25th. Seventeen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $49.00.

Get Our Latest Research Report on IMVT

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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