Insider Selling: Immunovant, Inc. (NASDAQ:IMVT) Insider Sells $293,941.90 in Stock

Immunovant, Inc. (NASDAQ:IMVT) insider Julia G. Butchko sold 10,115 shares of Immunovant stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $29.06, for a total transaction of $293,941.90. Following the sale, the insider now owns 451,627 shares of the company’s stock, valued at $13,124,280.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Immunovant Trading Down 0.4 %

Shares of IMVT opened at $28.22 on Monday. The business’s fifty day simple moving average is $33.00 and its two-hundred day simple moving average is $36.08. The company has a market cap of $4.10 billion, a price-to-earnings ratio of -15.34 and a beta of 0.65. Immunovant, Inc. has a 12 month low of $15.08 and a 12 month high of $45.58.

Immunovant (NASDAQ:IMVT) last released its earnings results on Monday, February 12th. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.07. As a group, research analysts forecast that Immunovant, Inc. will post -1.7 EPS for the current year.

Institutional Investors Weigh In On Immunovant

Several hedge funds have recently made changes to their positions in IMVT. Headlands Technologies LLC purchased a new stake in shares of Immunovant in the fourth quarter worth about $27,000. Comerica Bank acquired a new stake in shares of Immunovant in the 3rd quarter worth $26,000. KBC Group NV purchased a new position in shares of Immunovant during the 4th quarter worth $56,000. Assetmark Inc. acquired a new position in shares of Immunovant during the 4th quarter valued at about $61,000. Finally, Barclays PLC grew its holdings in shares of Immunovant by 2,558.1% in the second quarter. Barclays PLC now owns 2,286 shares of the company’s stock valued at $43,000 after purchasing an additional 2,200 shares during the period. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on IMVT shares. JPMorgan Chase & Co. assumed coverage on shares of Immunovant in a research report on Tuesday, February 20th. They set an “overweight” rating and a $51.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunovant in a report on Friday, January 12th. The Goldman Sachs Group initiated coverage on Immunovant in a research report on Wednesday, March 13th. They set a “buy” rating and a $50.00 price target on the stock. Wolfe Research started coverage on shares of Immunovant in a research note on Thursday, February 15th. They set an “outperform” rating and a $55.00 price target on the stock. Finally, Oppenheimer initiated coverage on shares of Immunovant in a research note on Thursday, March 28th. They issued an “outperform” rating and a $50.00 price objective for the company. Seventeen research analysts have rated the stock with a buy rating, According to MarketBeat.com, Immunovant presently has an average rating of “Buy” and a consensus price target of $48.00.

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.