William L. Macias Sells 2,383 Shares of Immunovant, Inc. (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) insider William L. Macias sold 2,383 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $23.83, for a total transaction of $56,786.89. Following the completion of the transaction, the insider now directly owns 359,408 shares in the company, valued at $8,564,692.64. The trade was a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Immunovant Stock Up 0.3 %

IMVT opened at $23.86 on Friday. 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 twelve month low of $22.41 and a twelve month high of $41.38. The company has a 50-day simple moving average of $26.53 and a 200 day simple moving average of $28.50.

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 quarter in the prior year, the business posted ($0.45) EPS. Sell-side analysts anticipate that Immunovant, Inc. will post -2.75 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Bank of America lowered their price target on shares of Immunovant from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday. Raymond James reiterated an “outperform” rating and set a $36.00 target price on shares of Immunovant in a research note on Thursday, October 10th. Oppenheimer upped their price objective on Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Wolfe Research cut Immunovant from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company reduced their target price 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. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.00.

Institutional Investors Weigh In On Immunovant

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

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.