Immunovant (NASDAQ:IMVT) Director Sells $348,600.00 in Stock

Immunovant, Inc. (NASDAQ:IMVT) Director Douglas Hughes sold 15,000 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $23.24, for a total value of $348,600.00. Following the completion of the transaction, the director owned 120,773 shares in the company, valued at $2,806,764.52. The trade was a 11.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Immunovant Price Performance

Shares of Immunovant stock traded up $0.69 during trading on Wednesday, reaching $22.71. 1,042,483 shares of the stock traded hands, compared to its average volume of 1,538,936. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of -8.00 and a beta of 0.56. Immunovant, Inc. has a 52-week low of $12.72 and a 52-week high of $29.49. The business has a fifty day simple moving average of $20.50 and a two-hundred day simple moving average of $17.55.

Immunovant (NASDAQ:IMVT) last released its earnings results on Monday, November 10th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.01). During the same period in the previous year, the company posted ($0.74) EPS. On average, research analysts predict that Immunovant, Inc. will post -2.69 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on IMVT shares. Citigroup reiterated a “buy” rating on shares of Immunovant in a research note on Monday, August 11th. Bank of America dropped their price objective on Immunovant from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, August 12th. JPMorgan Chase & Co. decreased their price objective on Immunovant from $37.00 to $33.00 and set an “overweight” rating on the stock in a report on Tuesday, September 30th. Truist Financial started coverage on Immunovant in a report on Tuesday, October 14th. They set a “hold” rating and a $16.00 price target on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $35.00 price objective on shares of Immunovant in a report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Immunovant has a consensus rating of “Moderate Buy” and a consensus target price of $28.78.

Institutional Trading of Immunovant

A number of institutional investors have recently bought and sold shares of IMVT. Deep Track Capital LP lifted its holdings in shares of Immunovant by 2.4% in the third quarter. Deep Track Capital LP now owns 9,728,845 shares of the company’s stock valued at $156,829,000 after purchasing an additional 228,845 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Immunovant by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 6,936,859 shares of the company’s stock worth $118,551,000 after acquiring an additional 257,445 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in shares of Immunovant by 15.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,894,824 shares of the company’s stock worth $100,743,000 after buying an additional 777,590 shares during the last quarter. Armistice Capital LLC raised its holdings in shares of Immunovant by 12.2% in the 3rd quarter. Armistice Capital LLC now owns 5,836,000 shares of the company’s stock worth $94,076,000 after purchasing an additional 636,000 shares during the period. Finally, Baker BROS. Advisors LP raised its holdings in Immunovant by 219.6% in the first quarter. Baker BROS. Advisors LP now owns 5,457,881 shares of the company’s stock valued at $93,275,000 after buying an additional 3,750,000 shares during the period. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

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.