Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann Sells 5,105 Shares

Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann sold 5,105 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $24.10, for a total transaction of $123,030.50. Following the transaction, the chief executive officer now directly owns 972,992 shares in the company, valued at approximately $23,449,107.20. The trade was a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, November 20th, Peter Salzmann sold 16,692 shares of Immunovant stock. The stock was sold at an average price of $25.45, for a total transaction of $424,811.40.
• On Wednesday, November 20th, Peter Salzmann sold 16,692 shares of Immunovant stock. The stock was sold at an average price of $25.45, for a total value of $424,811.40.
• On Wednesday, October 16th, Peter Salzmann sold 9,095 shares of Immunovant stock. The stock was sold at an average price of $28.79, for a total value of $261,845.05.

Immunovant Stock Performance

IMVT opened at $23.48 on Monday. The stock has a market capitalization of $3.45 billion, a PE ratio of -10.58 and a beta of 0.66. Immunovant, Inc. has a one year low of $23.08 and a one year high of $43.92. The business’s 50 day moving average price is $27.07 and its 200 day moving average price is $28.61.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.15). During the same quarter last year, the business earned ($0.45) earnings per share. As a group, equities research analysts forecast that Immunovant, Inc. will post -2.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immunovant

A number of institutional investors have recently made changes to their positions in IMVT. Victory Capital Management Inc. lifted its holdings in shares of Immunovant by 7.4% in the 3rd quarter. Victory Capital Management Inc. now owns 335,360 shares of the company’s stock worth $9,561,000 after acquiring an additional 22,990 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Immunovant by 19.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 552,430 shares of the company’s stock worth $15,750,000 after purchasing an additional 91,259 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Immunovant by 69.9% during the third quarter. Principal Financial Group Inc. now owns 951,124 shares of the company’s stock worth $27,117,000 after buying an additional 391,436 shares during the period. Rubric Capital Management LP purchased a new position in shares of Immunovant during the second quarter worth $1,548,000. Finally, First Turn Management LLC raised its holdings in shares of Immunovant by 35.6% in the 2nd quarter. First Turn Management LLC now owns 695,428 shares of the company’s stock valued at $18,359,000 after buying an additional 182,535 shares during the period. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IMVT has been the topic of a number of research reports. Oppenheimer raised their price objective on Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Raymond James reissued an “outperform” rating and issued a $36.00 price target on shares of Immunovant in a research note on Thursday, October 10th. 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. Wolfe Research downgraded shares of Immunovant from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, HC Wainwright restated a “buy” rating and set a $51.00 target price on shares of Immunovant in a report on Friday, November 8th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $47.22.

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.