Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) CFO Eva Renee Barnett sold 2,993 shares of the stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $14.89, for a total transaction of $44,565.77. Following the completion of the transaction, the chief financial officer now directly owns 396,774 shares of the company's stock, valued at $5,907,964.86. The trade was a 0.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Immunovant Stock Up 2.1 %
Shares of IMVT stock opened at $15.15 on Friday. Immunovant, Inc. has a 52-week low of $12.72 and a 52-week high of $34.47. The stock has a market cap of $2.57 billion, a PE ratio of -5.78 and a beta of 0.81. The business has a 50-day simple moving average of $18.14 and a 200-day simple moving average of $23.73.
Immunovant (NASDAQ:IMVT - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.08). Sell-side analysts anticipate that Immunovant, Inc. will post -2.69 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on IMVT. Bank of America cut their price target on shares of Immunovant from $38.00 to $33.00 and set a "buy" rating on the stock in a research note on Thursday, March 20th. Jefferies Financial Group began coverage on Immunovant in a research report on Monday, March 3rd. They issued a "hold" rating and a $20.00 target price on the stock. 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 price target on shares of Immunovant in a research note on Wednesday, March 19th. Finally, Cantor Fitzgerald upgraded Immunovant to a "strong-buy" rating in a research note on Tuesday, March 4th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $41.00.
Check Out Our Latest Report on IMVT
Hedge Funds Weigh In On Immunovant
Several large investors have recently made changes to their positions in the company. KBC Group NV grew its position in Immunovant by 60.1% during the fourth quarter. KBC Group NV now owns 3,099 shares of the company's stock valued at $77,000 after buying an additional 1,163 shares during the period. Rhumbline Advisers boosted its stake in shares of Immunovant by 1.5% during the 4th quarter. Rhumbline Advisers now owns 80,932 shares of the company's stock worth $2,005,000 after acquiring an additional 1,188 shares in the last quarter. Swiss National Bank grew its position in shares of Immunovant by 1.2% during the 4th quarter. Swiss National Bank now owns 100,800 shares of the company's stock valued at $2,497,000 after acquiring an additional 1,200 shares during the period. Tyro Capital Management LLC increased its stake 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 purchasing an additional 1,529 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in Immunovant by 4.0% in the 4th quarter. Sei Investments Co. now owns 40,456 shares of the company's stock worth $1,002,000 after purchasing an additional 1,541 shares during the period. 47.08% of the stock is currently owned by institutional investors and hedge funds.
About Immunovant
(
Get Free Report)
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.
Further Reading
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