Insider Selling: Immunovant, Inc. (NASDAQ:IMVT) CFO Sells 4,105 Shares of Stock

Immunovant, Inc. (NASDAQ:IMVT) CFO Eva Renee Barnett sold 4,105 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $24.10, for a total transaction of $98,930.50. Following the sale, the chief financial officer now owns 327,064 shares in the company, valued at $7,882,242.40. This represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Eva Renee Barnett also recently made the following trade(s):

• On Wednesday, November 20th, Eva Renee Barnett sold 4,174 shares of Immunovant stock. The shares were sold at an average price of $25.45, for a total value of $106,228.30.
• On Wednesday, November 20th, Eva Renee Barnett sold 4,174 shares of Immunovant stock. The stock was sold at an average price of $25.45, for a total transaction of $106,228.30.
• On Wednesday, October 16th, Eva Renee Barnett sold 3,271 shares of Immunovant stock. The shares were sold at an average price of $28.79, for a total value of $94,172.09.

Immunovant Stock Performance

NASDAQ IMVT opened at $23.48 on Monday. Immunovant, Inc. has a one year low of $23.08 and a one year high of $43.92. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of -10.58 and a beta of 0.66. The company’s 50-day simple moving average is $27.07 and its two-hundred day simple moving average is $28.61.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.15). During the same quarter in the prior year, the firm earned ($0.45) EPS. Equities analysts expect that Immunovant, Inc. will post -2.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IMVT. Wolfe Research lowered Immunovant from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. HC Wainwright reiterated a “buy” rating and set a $51.00 target price on shares of Immunovant in a research report on Friday, November 8th. Oppenheimer upped their price target on shares of Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Wells Fargo & Company decreased their price objective on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, Raymond James restated an “outperform” rating and issued a $36.00 target price on shares of Immunovant in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $47.22.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. KBC Group NV lifted its stake in shares of Immunovant by 46.2% during the 3rd quarter. KBC Group NV now owns 1,936 shares of the company’s stock worth $55,000 after purchasing an additional 612 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Immunovant by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock worth $148,000 after purchasing an additional 934 shares in the last quarter. Assetmark Inc. lifted its position in shares of Immunovant by 73.8% during the third quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock valued at $82,000 after buying an additional 1,228 shares during the last quarter. Tyro Capital Management LLC boosted its holdings in shares of Immunovant by 0.6% in the 3rd 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 in the last quarter. Finally, Quest Partners LLC grew its position in shares of Immunovant by 216.7% in the 2nd quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock worth $69,000 after buying an additional 1,786 shares during the last quarter. 47.08% of the stock is currently 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.