Immunovant, Inc. (NASDAQ:IMVT) CTO Sells $28,470.75 in Stock

Immunovant, Inc. (NASDAQ:IMVT) CTO Jay S. Stout sold 1,925 shares of the business’s stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $14.79, for a total transaction of $28,470.75. Following the sale, the chief technology officer now owns 209,243 shares in the company, valued at $3,094,703.97. This trade represents a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Immunovant Stock Down 2.3 %

Shares of Immunovant stock opened at $14.72 on Monday. The firm has a market capitalization of $2.50 billion, a P/E ratio of -5.62 and a beta of 0.81. Immunovant, Inc. has a 52 week low of $12.72 and a 52 week high of $34.47. The firm’s 50 day moving average is $17.50 and its two-hundred day moving average is $23.02.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings data on Monday, February 10th. The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.08). As a group, research analysts expect that Immunovant, Inc. will post -2.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immunovant

Large investors have recently modified their holdings of the company. Principal Financial Group Inc. boosted its holdings in shares of Immunovant by 69.9% in the third quarter. Principal Financial Group Inc. now owns 951,124 shares of the company’s stock valued at $27,117,000 after acquiring an additional 391,436 shares during the period. ABC Arbitrage SA acquired a new stake in shares of Immunovant during the fourth quarter worth $734,000. Vanguard Group Inc. lifted its holdings in shares of Immunovant by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,679,414 shares of the company’s stock worth $165,449,000 after purchasing an additional 20,614 shares during the period. Rhumbline Advisers lifted its holdings in shares of Immunovant by 1.5% during the fourth quarter. Rhumbline Advisers now owns 80,932 shares of the company’s stock worth $2,005,000 after purchasing an additional 1,188 shares during the period. Finally, Sei Investments Co. lifted its holdings in shares of Immunovant by 4.0% during the fourth quarter. Sei Investments Co. now owns 40,456 shares of the company’s stock worth $1,002,000 after purchasing an additional 1,541 shares during the period. 47.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Immunovant in a research note on Monday, March 3rd. They set a “hold” rating and a $20.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $51.00 target price on shares of Immunovant in a research note on Wednesday, March 19th. Bank of America cut their target price on shares of Immunovant from $38.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. Cantor Fitzgerald upgraded shares of Immunovant to a “strong-buy” rating in a research note on Tuesday, March 4th. Finally, Guggenheim restated a “buy” rating on shares of Immunovant in a research note on Thursday, March 20th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.33.

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.