Immunovant, Inc. (NASDAQ:IMVT) CFO Sells $133,200.82 in Stock

Immunovant, Inc. (NASDAQ:IMVT) CFO Eva Renee Barnett sold 4,747 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $28.06, for a total value of $133,200.82. Following the transaction, the chief financial officer now directly owns 350,667 shares in the company, valued at approximately $9,839,716.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, May 22nd, Eva Renee Barnett sold 4,042 shares of Immunovant stock. The shares were sold at an average price of $29.65, for a total value of $119,845.30.
• On Wednesday, April 17th, Eva Renee Barnett sold 12,253 shares of Immunovant stock. The shares were sold at an average price of $29.06, for a total value of $356,072.18.

Immunovant Stock Up 0.8 %

Immunovant stock opened at $30.57 on Friday. The business has a fifty day moving average of $27.85 and a two-hundred day moving average of $32.50. The firm has a market cap of $4.47 billion, a P/E ratio of -16.09 and a beta of 0.67. Immunovant, Inc. has a twelve month low of $18.82 and a twelve month high of $45.58.

Immunovant (NASDAQ:IMVT) last posted its earnings results on Wednesday, May 29th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.08). During the same period in the prior year, the firm posted ($0.46) earnings per share. Equities analysts expect that Immunovant, Inc. will post -2.11 earnings per share for the current year.

Institutional Trading of Immunovant

Hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. purchased a new stake in shares of Immunovant during the 4th quarter valued at $112,356,000. Octagon Capital Advisors LP lifted its holdings in shares of Immunovant by 127.3% during the 4th quarter. Octagon Capital Advisors LP now owns 273,289 shares of the company’s stock valued at $11,514,000 after purchasing an additional 1,273,289 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Immunovant by 14.0% during the 3rd quarter. Vanguard Group Inc. now owns 6,233,146 shares of the company’s stock valued at $239,290,000 after purchasing an additional 764,530 shares during the last quarter. Franklin Resources Inc. purchased a new stake in shares of Immunovant during the 4th quarter valued at $22,712,000. Finally, First Turn Management LLC purchased a new stake in shares of Immunovant during the 4th quarter valued at $21,608,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Analysts Set New Price Targets

IMVT has been the topic of a number of analyst reports. Truist Financial reaffirmed a “buy” rating and set a $48.00 target price on shares of Immunovant in a research note on Monday, March 25th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a research note on Tuesday, June 18th. Oppenheimer cut their target price on Immunovant from $50.00 to $46.00 and set an “outperform” rating on the stock in a research note on Monday, June 3rd. Finally, HC Wainwright reissued a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a research note on Thursday, May 30th. Sixteen analysts have rated the stock with a buy rating, According to MarketBeat.com, Immunovant presently has an average rating of “Buy” and a consensus price target of $48.75.

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.