Immunovant, Inc. (NASDAQ:IMVT) CTO Sells $78,088.88 in Stock

Immunovant, Inc. (NASDAQ:IMVT) CTO Jay S. Stout sold 2,813 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $27.76, for a total transaction of $78,088.88. Following the sale, the chief technology officer now directly owns 144,926 shares in the company, valued at $4,023,145.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Immunovant Price Performance

Shares of NASDAQ IMVT opened at $29.10 on Monday. The firm’s 50 day simple moving average is $27.59 and its 200-day simple moving average is $31.43. Immunovant, Inc. has a 12 month low of $18.82 and a 12 month high of $45.58. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of -15.32 and a beta of 0.67.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings results on Wednesday, May 29th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.08). During the same quarter in the prior year, the business posted ($0.46) EPS. Analysts anticipate that Immunovant, Inc. will post -2.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Oppenheimer lowered their price target on Immunovant from $50.00 to $46.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a report on Tuesday, June 18th. Finally, HC Wainwright reiterated a “buy” rating and issued a $51.00 price target on shares of Immunovant in a report on Thursday, May 30th. Fifteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $49.73.

Institutional Investors Weigh In On Immunovant

A number of institutional investors have recently modified their holdings of the business. Headlands Technologies LLC acquired a new position in Immunovant in the 4th quarter worth about $27,000. Assetmark Inc. purchased a new stake in shares of Immunovant in the fourth quarter valued at approximately $61,000. EntryPoint Capital LLC raised its stake in shares of Immunovant by 288.8% during the 1st quarter. EntryPoint Capital LLC now owns 2,912 shares of the company’s stock worth $94,000 after buying an additional 2,163 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of Immunovant during the 4th quarter valued at approximately $212,000. Finally, CoreCap Advisors LLC grew its stake in Immunovant by 11.2% in the 4th quarter. CoreCap Advisors LLC now owns 6,407 shares of the company’s stock valued at $270,000 after acquiring an additional 647 shares during the period. 47.08% of the stock is currently owned by institutional investors and hedge funds.

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.