Immunovant, Inc. (NASDAQ:IMVT) CEO Sells $990,335.74 in Stock

Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann sold 34,079 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $29.06, for a total transaction of $990,335.74. Following the completion of the sale, the chief executive officer now directly owns 1,052,879 shares of the company’s stock, valued at $30,596,663.74. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Tuesday, April 9th, Peter Salzmann sold 4,807 shares of Immunovant stock. The stock was sold at an average price of $31.18, for a total transaction of $149,882.26.

Immunovant Stock Performance

NASDAQ IMVT opened at $28.22 on Monday. The company has a market capitalization of $4.10 billion, a P/E ratio of -15.34 and a beta of 0.65. Immunovant, Inc. has a one year low of $15.08 and a one year high of $45.58. The stock has a 50 day moving average price of $33.00 and a 200-day moving average price of $36.08.

Immunovant (NASDAQ:IMVT) last posted its earnings results on Monday, February 12th. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.07. As a group, equities analysts predict that Immunovant, Inc. will post -1.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

IMVT has been the subject of several analyst reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunovant in a report on Friday, January 12th. JPMorgan Chase & Co. initiated coverage on shares of Immunovant in a report on Tuesday, February 20th. They issued an “overweight” rating and a $51.00 target price for the company. Wolfe Research began coverage on shares of Immunovant in a report on Thursday, February 15th. They issued an “outperform” rating and a $55.00 target price for the company. The Goldman Sachs Group began coverage on Immunovant in a research note on Wednesday, March 13th. They issued a “buy” rating and a $50.00 price target for the company. Finally, Oppenheimer began coverage on Immunovant in a research note on Thursday, March 28th. They issued an “outperform” rating and a $50.00 price target for the company. Seventeen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Immunovant has a consensus rating of “Buy” and a consensus target price of $48.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its position in Immunovant by 51.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 65,091 shares of the company’s stock worth $2,103,000 after buying an additional 22,226 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in Immunovant by 185.4% in the first quarter. Los Angeles Capital Management LLC now owns 14,371 shares of the company’s stock worth $464,000 after buying an additional 9,335 shares during the last quarter. Wellington Management Group LLP lifted its position in Immunovant by 75.0% in the fourth quarter. Wellington Management Group LLP now owns 295,020 shares of the company’s stock worth $12,429,000 after buying an additional 126,412 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Immunovant by 119.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,602,562 shares of the company’s stock worth $67,517,000 after buying an additional 872,520 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Immunovant in the fourth quarter worth $369,000. 47.08% of the stock is currently owned by institutional investors.

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.