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 company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $19.60, for a total transaction of $156,800.00. Following the completion of the sale, the director now directly owns 91,913 shares in the company, valued at approximately $1,801,494.80. The trade was a 8.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Immunovant Price Performance

IMVT opened at $19.61 on Wednesday. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of -7.48 and a beta of 0.68. The business has a 50-day moving average of $21.67 and a two-hundred day moving average of $26.31. Immunovant, Inc. has a 12 month low of $17.65 and a 12 month high of $35.97.

Immunovant (NASDAQ:IMVT) last announced its earnings results on Monday, February 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.08). Equities research analysts anticipate that Immunovant, Inc. will post -2.69 earnings per share for the current year.

Hedge Funds Weigh In On Immunovant

Several institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. grew its position in Immunovant by 69.9% in the 3rd quarter. Principal Financial Group Inc. now owns 951,124 shares of the company’s stock worth $27,117,000 after purchasing an additional 391,436 shares during the last quarter. Assetmark Inc. grew its position in Immunovant by 73.8% in the 3rd quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock worth $82,000 after purchasing an additional 1,228 shares during the last quarter. GSA Capital Partners LLP raised its position in shares of Immunovant by 66.2% during the 3rd quarter. GSA Capital Partners LLP now owns 24,634 shares of the company’s stock worth $702,000 after buying an additional 9,810 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Immunovant by 7.4% during the 3rd quarter. Victory Capital Management Inc. now owns 335,360 shares of the company’s stock worth $9,561,000 after buying an additional 22,990 shares in the last quarter. Finally, KBC Group NV raised its position 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 buying an additional 612 shares in the last quarter. Institutional investors own 47.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Cantor Fitzgerald raised shares of Immunovant to a “strong-buy” rating in a report on Tuesday, March 4th. Wells Fargo & Company cut 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. HC Wainwright reaffirmed a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a report on Friday, February 7th. Bank of America cut their price objective on shares of Immunovant from $48.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. Finally, Wolfe Research downgraded shares of Immunovant from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $43.55.

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.