Immunovant, Inc. (NASDAQ:IMVT) CEO Sells $123,030.50 in Stock

Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann sold 5,105 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $24.10, for a total value of $123,030.50. Following the transaction, the chief executive officer now directly owns 972,992 shares of the company’s stock, valued at approximately $23,449,107.20. This trade represents a 0.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Peter Salzmann also recently made the following trade(s):

• On Wednesday, November 20th, Peter Salzmann sold 16,692 shares of Immunovant stock. The shares were sold at an average price of $25.45, for a total transaction of $424,811.40.
• On Wednesday, November 20th, Peter Salzmann sold 16,692 shares of Immunovant stock. The stock was sold at an average price of $25.45, for a total transaction of $424,811.40.
• On Wednesday, October 16th, Peter Salzmann sold 9,095 shares of Immunovant stock. The shares were sold at an average price of $28.79, for a total value of $261,845.05.

Immunovant Trading Down 0.6 %

Immunovant stock opened at $23.48 on Friday. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of -10.58 and a beta of 0.66. The stock’s 50 day moving average is $27.07 and its 200-day moving average is $28.58. Immunovant, Inc. has a 12 month low of $23.08 and a 12 month high of $43.92.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.15). During the same period in the previous year, the company posted ($0.45) earnings per share. As a group, equities research analysts predict that Immunovant, Inc. will post -2.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on IMVT shares. Wells Fargo & Company decreased their price target on Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Wolfe Research cut shares of Immunovant from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Raymond James reiterated an “outperform” rating and issued a $36.00 price target on shares of Immunovant in a research note on Thursday, October 10th. Oppenheimer boosted their price objective on shares of Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Immunovant has a consensus rating of “Moderate Buy” and a consensus price target of $47.22.

Institutional Trading of Immunovant

Several hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC raised its position in shares of Immunovant by 19.6% in the third quarter. FMR LLC now owns 12,537,571 shares of the company’s stock valued at $357,446,000 after buying an additional 2,053,688 shares in the last quarter. Armistice Capital LLC increased its stake in Immunovant by 57.0% during the 2nd quarter. Armistice Capital LLC now owns 3,396,909 shares of the company’s stock worth $89,678,000 after acquiring an additional 1,232,909 shares during the period. State Street Corp raised its holdings in Immunovant by 11.2% in the 3rd quarter. State Street Corp now owns 3,022,342 shares of the company’s stock valued at $86,167,000 after acquiring an additional 303,386 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Immunovant by 6.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,510,926 shares of the company’s stock valued at $43,085,000 after acquiring an additional 96,924 shares during the period. Finally, Baker BROS. Advisors LP grew its stake in Immunovant by 163.7% during the third quarter. Baker BROS. Advisors LP now owns 1,225,410 shares of the company’s stock worth $34,936,000 after buying an additional 760,692 shares in the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

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.