Immunovant, Inc. (NASDAQ:IMVT) Short Interest Update

Immunovant, Inc. (NASDAQ:IMVT) saw a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 8,510,000 shares, a decline of 5.7% from the March 31st total of 9,020,000 shares. Based on an average trading volume of 1,150,000 shares, the days-to-cover ratio is presently 7.4 days. Currently, 14.1% of the shares of the company are sold short.

Insider Activity

In other news, insider Mark S. Levine sold 2,134 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $36.15, for a total transaction of $77,144.10. Following the completion of the transaction, the insider now owns 301,968 shares of the company’s stock, valued at $10,916,143.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Mark S. Levine sold 2,134 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $36.15, for a total value of $77,144.10. Following the completion of the sale, the insider now owns 301,968 shares of the company’s stock, valued at $10,916,143.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Eva Renee Barnett sold 3,689 shares of the company’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $31.18, for a total transaction of $115,023.02. Following the completion of the sale, the chief financial officer now directly owns 371,709 shares of the company’s stock, valued at approximately $11,589,886.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 81,560 shares of company stock valued at $2,424,601. 4.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Immunovant

A number of large investors have recently made changes to their positions in the business. Headlands Technologies LLC bought a new stake in shares of Immunovant in the 4th quarter valued at approximately $27,000. Assetmark Inc. bought a new stake in shares of Immunovant in the 4th quarter valued at approximately $61,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Immunovant by 96.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,360 shares of the company’s stock valued at $129,000 after buying an additional 1,651 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Immunovant in the 4th quarter valued at approximately $212,000. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Immunovant in the 3rd quarter valued at approximately $230,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

Wall Street Analyst Weigh In

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

Immunovant Price Performance

NASDAQ IMVT traded up $0.79 on Tuesday, hitting $28.28. 534,617 shares of the company were exchanged, compared to its average volume of 1,219,445. Immunovant has a twelve month low of $16.58 and a twelve month high of $45.58. The company’s 50 day moving average price is $31.90 and its 200-day moving average price is $35.72.

Immunovant (NASDAQ:IMVT) last issued its earnings results on Monday, February 12th. The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.07. On average, analysts predict that Immunovant will post -1.7 EPS for the current year.

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.