Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann Sells 9,095 Shares

Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann sold 9,095 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $28.79, for a total value of $261,845.05. Following the completion of the sale, the chief executive officer now directly owns 994,789 shares of the company’s stock, valued at $28,639,975.31. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Peter Salzmann also recently made the following trade(s):

• On Wednesday, October 9th, Peter Salzmann sold 4,460 shares of Immunovant stock. The shares were sold at an average price of $29.56, for a total transaction of $131,837.60.

Immunovant Trading Up 0.7 %

IMVT opened at $29.47 on Monday. The stock’s 50-day moving average price is $30.09 and its 200 day moving average price is $28.95. Immunovant, Inc. has a 12-month low of $24.67 and a 12-month high of $45.58. The firm has a market cap of $4.31 billion, a price-to-earnings ratio of -15.51 and a beta of 0.66.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.07). During the same period in the prior year, the firm posted ($0.57) EPS. On average, research analysts forecast that Immunovant, Inc. will post -2.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on IMVT shares. JPMorgan Chase & Co. decreased their target price on shares of Immunovant from $51.00 to $46.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Raymond James reiterated an “outperform” rating and issued a $36.00 price objective on shares of Immunovant in a research report on Thursday, October 10th. Oppenheimer lifted their target price on Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunovant in a report on Monday, September 9th. Finally, UBS Group cut their price objective on Immunovant from $42.00 to $41.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Immunovant presently has an average rating of “Buy” and an average price target of $48.91.

Institutional Investors Weigh In On Immunovant

Several large investors have recently added to or reduced their stakes in IMVT. Quest Partners LLC boosted its position in Immunovant by 216.7% in the 2nd quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock valued at $69,000 after buying an additional 1,786 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Immunovant in the second quarter valued at $77,000. EntryPoint Capital LLC boosted its holdings in Immunovant by 288.8% in the first quarter. EntryPoint Capital LLC now owns 2,912 shares of the company’s stock valued at $94,000 after purchasing an additional 2,163 shares during the period. DNB Asset Management AS grew its stake in Immunovant by 10.3% during the 2nd quarter. DNB Asset Management AS now owns 10,290 shares of the company’s stock worth $271,000 after purchasing an additional 958 shares in the last quarter. Finally, Farallon Capital Management LLC purchased a new stake in Immunovant during the 2nd quarter worth about $317,000. 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.