Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) CTO Jay S. Stout sold 1,925 shares of Immunovant stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $14.79, for a total value of $28,470.75. Following the completion of the transaction, the chief technology officer now owns 209,243 shares of the company's stock, valued at approximately $3,094,703.97. This represents a 0.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Immunovant Trading Down 2.3 %
Shares of NASDAQ IMVT opened at $14.72 on Friday. The business's fifty day simple moving average is $17.50 and its 200-day simple moving average is $23.12. Immunovant, Inc. has a 12-month low of $12.72 and a 12-month high of $34.47. The stock has a market cap of $2.50 billion, a P/E ratio of -5.62 and a beta of 0.81.
Immunovant (NASDAQ:IMVT - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The company reported ($0.76) EPS for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.08). On average, equities analysts forecast that Immunovant, Inc. will post -2.69 EPS for the current fiscal year.
Institutional Investors Weigh In On Immunovant
Institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its stake in Immunovant by 4.5% during the 4th quarter. FMR LLC now owns 13,097,915 shares of the company's stock worth $324,435,000 after acquiring an additional 560,344 shares in the last quarter. Vanguard Group Inc. raised its stake in Immunovant by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 6,679,414 shares of the company's stock valued at $165,449,000 after acquiring an additional 20,614 shares during the last quarter. Deep Track Capital LP raised its stake in shares of Immunovant by 38.0% during the fourth quarter. Deep Track Capital LP now owns 6,000,000 shares of the company's stock worth $148,620,000 after purchasing an additional 1,652,536 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in Immunovant by 53.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,117,234 shares of the company's stock worth $126,754,000 after buying an additional 1,786,217 shares during the last quarter. Finally, Alpine Global Management LLC raised its holdings in Immunovant by 14.7% during the fourth quarter. Alpine Global Management LLC now owns 2,158,904 shares of the company's stock worth $53,476,000 after purchasing an additional 276,200 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company's stock.
Analyst Upgrades and Downgrades
IMVT has been the topic of a number of recent analyst reports. Bank of America decreased their target price on Immunovant from $38.00 to $33.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. UBS Group reaffirmed a "neutral" rating and set a $17.00 price objective (down previously from $38.00) on shares of Immunovant in a research note on Tuesday. Guggenheim reissued a "buy" rating on shares of Immunovant in a research note on Thursday, March 20th. Wolfe Research downgraded shares of Immunovant from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $51.00 price target on shares of Immunovant in a research note on Wednesday, March 19th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $38.33.
Read Our Latest Stock Analysis on IMVT
Immunovant Company Profile
(
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.
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