Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann Sells 8,321 Shares

Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann sold 8,321 shares of the business’s stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $14.89, for a total transaction of $123,899.69. Following the completion of the sale, the chief executive officer now directly owns 1,178,191 shares in the company, valued at $17,543,263.99. This represents a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, April 9th, Peter Salzmann sold 28,094 shares of Immunovant stock. The stock was sold at an average price of $12.99, for a total value of $364,941.06.

Immunovant Stock Performance

IMVT traded up $0.31 on Thursday, reaching $15.15. The company had a trading volume of 1,040,222 shares, compared to its average volume of 1,191,930. The stock has a market cap of $2.57 billion, a P/E ratio of -5.78 and a beta of 0.81. Immunovant, Inc. has a fifty-two week low of $12.72 and a fifty-two week high of $34.47. The company’s fifty day moving average is $18.22 and its 200 day moving average is $23.82.

Immunovant (NASDAQ:IMVT) last announced its earnings results on Monday, February 10th. The company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.08). On average, sell-side analysts expect that Immunovant, Inc. will post -2.69 EPS for the current year.

Hedge Funds Weigh In On Immunovant

Hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC grew 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 worth $43,085,000 after purchasing an additional 96,924 shares in the last quarter. Tyro Capital Management LLC grew its position in Immunovant by 0.6% during the third quarter. Tyro Capital Management LLC now owns 252,149 shares of the company’s stock worth $7,189,000 after buying an additional 1,529 shares in the last quarter. Principal Financial Group Inc. increased its stake in Immunovant by 69.9% during the 3rd quarter. Principal Financial Group Inc. now owns 951,124 shares of the company’s stock worth $27,117,000 after acquiring an additional 391,436 shares during the period. KBC Group NV lifted its position in shares of Immunovant by 60.1% during the 4th quarter. KBC Group NV now owns 3,099 shares of the company’s stock valued at $77,000 after acquiring an additional 1,163 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its holdings in shares of Immunovant by 10.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 31,124 shares of the company’s stock worth $771,000 after purchasing an additional 2,973 shares in the last quarter. 47.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Guggenheim reaffirmed a “buy” rating on shares of Immunovant in a research report on Thursday, March 20th. Wells Fargo & Company lowered their price target on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Bank of America decreased their price objective on Immunovant from $38.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, March 20th. Cantor Fitzgerald raised Immunovant to a “strong-buy” rating in a research report on Tuesday, March 4th. Finally, Wolfe Research downgraded Immunovant from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $41.00.

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.