Michael Geffner Sells 2,657 Shares of Immunovant, Inc. (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) insider Michael Geffner sold 2,657 shares of Immunovant stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $23.59, for a total value of $62,678.63. Following the transaction, the insider now owns 132,314 shares of the company’s stock, valued at $3,121,287.26. The trade was a 1.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Immunovant Stock Performance

Shares of NASDAQ IMVT traded down $0.35 during mid-day trading on Friday, reaching $23.05. The company had a trading volume of 1,173,398 shares, compared to its average volume of 1,093,133. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of -10.38 and a beta of 0.66. The business’s 50-day simple moving average is $25.93 and its 200 day simple moving average is $28.39. Immunovant, Inc. has a one year low of $22.41 and a one year high of $39.55.

Immunovant (NASDAQ:IMVT) last issued its 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 business posted ($0.45) EPS. On average, sell-side analysts anticipate that Immunovant, Inc. will post -2.75 EPS for the current year.

Hedge Funds Weigh In On Immunovant

Several hedge funds and other institutional investors have recently modified their holdings of IMVT. KBC Group NV grew its stake in shares of Immunovant by 46.2% during the third quarter. KBC Group NV now owns 1,936 shares of the company’s stock worth $55,000 after buying an additional 612 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Immunovant by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock worth $148,000 after acquiring an additional 934 shares during the last quarter. Assetmark Inc. increased its holdings in Immunovant by 73.8% in the 3rd quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock worth $82,000 after purchasing an additional 1,228 shares in the last quarter. Tyro Capital Management LLC raised its position in Immunovant by 0.6% in the third quarter. Tyro Capital Management LLC now owns 252,149 shares of the company’s stock valued at $7,189,000 after purchasing an additional 1,529 shares during the last quarter. Finally, Squarepoint Ops LLC raised its position in Immunovant by 5.6% in the second quarter. Squarepoint Ops LLC now owns 49,288 shares of the company’s stock valued at $1,301,000 after purchasing an additional 2,615 shares during the last quarter. Institutional investors own 47.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on IMVT shares. Oppenheimer boosted their target price on Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Bank of America decreased their price objective on shares of Immunovant from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. Wells Fargo & Company cut their target price on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. HC Wainwright reiterated a “buy” rating and issued a $51.00 price target on shares of Immunovant in a research note on Friday, November 8th. Finally, Wolfe Research downgraded shares of Immunovant from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Immunovant currently has an average rating of “Moderate Buy” and an average price target of $47.00.

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.