Immunovant, Inc. (NASDAQ:IMVT) Insider Sells $128,780.33 in Stock

Immunovant, Inc. (NASDAQ:IMVT) insider Mark S. Levine sold 4,361 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $29.53, for a total transaction of $128,780.33. Following the sale, the insider now directly owns 322,878 shares in the company, valued at $9,534,587.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Immunovant Price Performance

Shares of Immunovant stock opened at $30.22 on Monday. The stock has a market capitalization of $4.42 billion, a P/E ratio of -15.66 and a beta of 0.66. The business has a 50 day simple moving average of $30.07 and a two-hundred day simple moving average of $28.92. Immunovant, Inc. has a 12 month low of $24.67 and a 12 month high of $45.58.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.07). During the same quarter in the previous year, the business earned ($0.57) earnings per share. As a group, research analysts anticipate that Immunovant, Inc. will post -2.41 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IMVT. HC Wainwright reissued a “buy” rating and set a $51.00 price target on shares of Immunovant in a report on Monday, September 30th. Oppenheimer increased their target price on shares of Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. UBS Group cut their price target on Immunovant from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunovant in a research report on Monday, September 9th. Finally, Raymond James restated an “outperform” rating and issued a $36.00 price objective on shares of Immunovant in a research report on Thursday, October 10th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Immunovant has a consensus rating of “Buy” and an average price target of $48.10.

Hedge Funds Weigh In On Immunovant

Hedge funds and other institutional investors have recently modified their holdings of the business. Quest Partners LLC grew its stake in Immunovant by 216.7% during the 2nd quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock valued at $69,000 after acquiring an additional 1,786 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Immunovant during the 2nd quarter worth approximately $77,000. EntryPoint Capital LLC grew its position in shares of 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Immunovant by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock valued at $148,000 after purchasing an additional 934 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG purchased a new position in Immunovant during the third quarter worth approximately $261,000. 47.08% of the stock is owned by hedge funds and other institutional investors.

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.