Immunovant, Inc. (NASDAQ:IMVT) Insider Michael Geffner Sells 3,261 Shares of Stock

Immunovant, Inc. (NASDAQ:IMVT) insider Michael Geffner sold 3,261 shares of the business’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $28.90, for a total value of $94,242.90. Following the transaction, the insider now owns 141,616 shares in the company, valued at approximately $4,092,702.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Immunovant Trading Down 2.1 %

Shares of Immunovant stock opened at $27.17 on Friday. Immunovant, Inc. has a 1 year low of $15.90 and a 1 year high of $45.58. The firm’s 50-day moving average is $32.10 and its 200 day moving average is $35.79.

Immunovant (NASDAQ:IMVT) last issued its earnings results on Monday, February 12th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.07. Equities analysts expect that Immunovant, Inc. will post -1.7 EPS for the current year.

Institutional Trading of Immunovant

Institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. purchased a new stake in shares of Immunovant during the 4th quarter valued at 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 buying an additional 2,494,678 shares during the period. Octagon Capital Advisors LP boosted its stake in shares of Immunovant by 127.3% in the 4th quarter. Octagon Capital Advisors LP now owns 273,289 shares of the company’s stock worth $11,514,000 after buying an additional 1,273,289 shares during the last quarter. Fred Alger Management LLC grew its holdings in shares of Immunovant by 6,108.9% in the third quarter. Fred Alger Management LLC now owns 1,186,031 shares of the company’s stock worth $45,532,000 after acquiring an additional 1,166,929 shares during the period. Finally, Armistice Capital LLC purchased a new stake in Immunovant during the third quarter valued at $39,767,000. Institutional investors own 47.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on IMVT shares. JPMorgan Chase & Co. initiated coverage on Immunovant in a report on Tuesday, February 20th. They set an “overweight” rating and a $51.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a research note on Friday, January 12th. Truist Financial reissued a “buy” rating and issued a $48.00 price target on shares of Immunovant in a research note on Monday, March 25th. Wolfe Research began coverage on Immunovant in a research note on Thursday, February 15th. They issued an “outperform” rating and a $55.00 target price for the company. Finally, 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. Seventeen research analysts have rated the stock with a buy rating, According to MarketBeat.com, Immunovant presently has an average rating of “Buy” and an average 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.