Immunovant, Inc. (NASDAQ:IMVT) Director Andrew J. Fromkin Sells 8,000 Shares

Immunovant, Inc. (NASDAQ:IMVT) Director Andrew J. Fromkin sold 8,000 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $19.60, for a total transaction of $156,800.00. Following the completion of the transaction, the director now directly owns 91,913 shares in the company, valued at $1,801,494.80. This trade represents a 8.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Immunovant Trading Down 3.4 %

Shares of NASDAQ:IMVT opened at $19.61 on Wednesday. Immunovant, Inc. has a 12-month low of $17.65 and a 12-month high of $35.97. The business’s fifty day simple moving average is $21.67 and its 200-day simple moving average is $26.31. The company has a market capitalization of $3.33 billion, a PE ratio of -7.48 and a beta of 0.68.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings data on Monday, February 10th. The company reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.08). Research analysts predict that Immunovant, Inc. will post -2.69 EPS for the current year.

Institutional Trading of Immunovant

Several hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC lifted its holdings in shares of Immunovant by 4.5% during the 4th quarter. FMR LLC now owns 13,097,915 shares of the company’s stock valued at $324,435,000 after purchasing an additional 560,344 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Immunovant by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,679,414 shares of the company’s stock valued at $165,449,000 after buying an additional 20,614 shares during the last quarter. Deep Track Capital LP increased its position in shares of Immunovant by 38.0% in the 4th quarter. Deep Track Capital LP now owns 6,000,000 shares of the company’s stock valued at $148,620,000 after acquiring an additional 1,652,536 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in Immunovant by 53.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,117,234 shares of the company’s stock worth $126,754,000 after acquiring an additional 1,786,217 shares during the last quarter. Finally, State Street Corp raised its stake in Immunovant by 11.2% in the 3rd quarter. State Street Corp now owns 3,022,342 shares of the company’s stock worth $86,167,000 after acquiring an additional 303,386 shares during the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on IMVT. Cantor Fitzgerald raised shares of Immunovant to a “strong-buy” rating in a research note on Tuesday, March 4th. Jefferies Financial Group initiated coverage on shares of Immunovant in a research note on Monday, March 3rd. They set a “hold” rating and a $20.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $51.00 price objective on shares of Immunovant in a research note on Friday, February 7th. Guggenheim reaffirmed a “buy” rating on shares of Immunovant in a research note on Monday. Finally, Wells Fargo & Company dropped their price objective on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $43.55.

About Immunovant

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.