Immunovant, Inc. (NASDAQ:IMVT) CFO Eva Renee Barnett Sells 2,298 Shares

Immunovant, Inc. (NASDAQ:IMVT) CFO Eva Renee Barnett sold 2,298 shares of Immunovant stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $23.83, for a total transaction of $54,761.34. Following the sale, the chief financial officer now directly owns 324,766 shares of the company’s stock, valued at $7,739,173.78. The trade was a 0.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Eva Renee Barnett also recently made the following trade(s):

• On Wednesday, January 8th, Eva Renee Barnett sold 4,105 shares of Immunovant stock. The stock was sold at an average price of $24.10, for a total value of $98,930.50.
• On Wednesday, November 20th, Eva Renee Barnett sold 4,174 shares of Immunovant stock. The stock was sold at an average price of $25.45, for a total value of $106,228.30.
• On Wednesday, November 20th, Eva Renee Barnett sold 4,174 shares of Immunovant stock. The shares were sold at an average price of $25.45, for a total value of $106,228.30.

Immunovant Stock Performance

Shares of IMVT opened at $23.86 on Monday. Immunovant, Inc. has a 52-week low of $22.41 and a 52-week high of $41.38. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of -10.75 and a beta of 0.66. The business’s fifty day moving average is $26.39 and its 200-day moving average is $28.48.

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 period in the previous year, the business earned ($0.45) earnings per share. As a group, research analysts forecast that Immunovant, Inc. will post -2.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

IMVT has been the subject of a number of research reports. Oppenheimer lifted 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 dropped their price objective on shares of Immunovant from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Wolfe Research lowered shares of Immunovant from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Wells Fargo & Company dropped their price target on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, Raymond James restated an “outperform” rating and set a $36.00 price objective on shares of Immunovant in a research note on Thursday, October 10th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.00.

Hedge Funds Weigh In On Immunovant

A number of institutional investors have recently added to or reduced their stakes in the stock. KBC Group NV grew its holdings in shares of Immunovant by 46.2% during the third quarter. KBC Group NV now owns 1,936 shares of the company’s stock valued at $55,000 after buying an additional 612 shares during the last quarter. Assetmark Inc. lifted its position in Immunovant by 73.8% in the 3rd quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock valued at $82,000 after acquiring an additional 1,228 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake 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 valued at $148,000 after purchasing an additional 934 shares during the last quarter. Bank Pictet & Cie Europe AG bought a new stake in shares of Immunovant in the 3rd quarter worth $261,000. Finally, Farallon Capital Management LLC purchased a new position in shares of Immunovant in the second quarter worth $317,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

About Immunovant

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.