Peter Salzmann Sells 8,767 Shares of Immunovant, Inc. (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann sold 8,767 shares of Immunovant stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $23.83, for a total transaction of $208,917.61. Following the sale, the chief executive officer now directly owns 964,225 shares of the company’s stock, valued at approximately $22,977,481.75. This trade represents a 0.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Wednesday, January 8th, Peter Salzmann sold 5,105 shares of Immunovant stock. The shares were sold at an average price of $24.10, for a total transaction of $123,030.50.
• 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 shares were sold at an average price of $25.45, for a total value of $424,811.40.

Immunovant Trading Up 0.3 %

Shares of Immunovant stock opened at $23.86 on Monday. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of -10.75 and a beta of 0.66. Immunovant, Inc. has a 1-year low of $22.41 and a 1-year high of $41.38. The firm’s 50-day moving average price is $26.39 and its two-hundred day moving average price is $28.48.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.74) earnings per share (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, equities research analysts predict that Immunovant, Inc. will post -2.75 EPS for the current year.

Hedge Funds Weigh In On Immunovant

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IMVT. Rhumbline Advisers raised its position in Immunovant by 9.7% during the second quarter. Rhumbline Advisers now owns 83,532 shares of the company’s stock worth $2,205,000 after acquiring an additional 7,363 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Immunovant by 14.2% during the 2nd quarter. Renaissance Technologies LLC now owns 388,100 shares of the company’s stock valued at $10,246,000 after purchasing an additional 48,400 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Immunovant in the 2nd quarter worth about $5,275,000. Ensign Peak Advisors Inc raised its position in Immunovant by 22.2% during the 2nd quarter. Ensign Peak Advisors Inc now owns 204,221 shares of the company’s stock worth $5,391,000 after purchasing an additional 37,165 shares during the last quarter. Finally, Rubric Capital Management LP bought a new position in Immunovant during the second quarter worth $1,548,000. 47.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on IMVT. Oppenheimer boosted their price target on Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. 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. Bank of America cut their price objective on Immunovant from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. Wolfe Research downgraded Immunovant from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, HC Wainwright reiterated a “buy” rating and issued a $51.00 target price on shares of Immunovant in a research report on Friday, November 8th. 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, Immunovant has a consensus rating of “Moderate Buy” and a consensus 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.