Insider Selling: Immunovant, Inc. (NASDAQ:IMVT) CTO Sells $51,780.05 in Stock

Immunovant, Inc. (NASDAQ:IMVT) CTO Jay S. Stout sold 2,195 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $23.59, for a total transaction of $51,780.05. Following the sale, the chief technology officer now directly owns 139,991 shares in the company, valued at $3,302,387.69. The trade was a 1.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Immunovant Stock Performance

Shares of NASDAQ:IMVT opened at $23.05 on Monday. The firm has a market capitalization of $3.38 billion, a PE ratio of -10.38 and a beta of 0.66. Immunovant, Inc. has a 52-week low of $22.41 and a 52-week high of $39.55. The firm has a fifty day moving average of $25.85 and a 200 day moving average of $28.35.

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 analysts’ consensus estimates of ($0.59) by ($0.15). During the same period in the previous year, the firm posted ($0.45) earnings per share. On average, sell-side analysts forecast that Immunovant, Inc. will post -2.75 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Wells Fargo & Company reduced their price target on Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Oppenheimer lifted their target price on Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. 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, January 15th. HC Wainwright reaffirmed a “buy” rating and set a $51.00 price objective on shares of Immunovant in a research note on Friday, November 8th. Finally, Raymond James reissued an “outperform” rating and issued a $36.00 price target on shares of Immunovant in a report on Thursday, October 10th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.00.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. abrdn plc boosted its stake in shares of Immunovant by 11.1% in the 4th quarter. abrdn plc now owns 532,110 shares of the company’s stock valued at $13,180,000 after purchasing an additional 53,353 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Immunovant by 10.6% in the fourth 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 during the last quarter. KBC Group NV lifted its stake in Immunovant by 60.1% in the fourth quarter. KBC Group NV now owns 3,099 shares of the company’s stock worth $77,000 after purchasing an additional 1,163 shares during the last quarter. Principal Financial Group Inc. boosted its position in Immunovant by 69.9% during the third quarter. Principal Financial Group Inc. now owns 951,124 shares of the company’s stock valued at $27,117,000 after buying an additional 391,436 shares during the period. Finally, Tyro Capital Management LLC grew its stake in shares of Immunovant by 0.6% during the third quarter. Tyro Capital Management LLC now owns 252,149 shares of the company’s stock valued at $7,189,000 after buying an additional 1,529 shares during the last quarter. 47.08% of the stock is owned by hedge funds and other 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.