Immunovant (NASDAQ:IMVT) Insider Sells $682,837.44 in Stock

Immunovant, Inc. (NASDAQ:IMVT) insider Tuyl Christopher Van sold 17,824 shares of the company’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $38.31, for a total transaction of $682,837.44. Following the transaction, the insider owned 180,597 shares of the company’s stock, valued at $6,918,671.07. This represents a 8.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Tuyl Christopher Van also recently made the following trade(s):

• On Wednesday, April 8th, Tuyl Christopher Van sold 5,165 shares of Immunovant stock. The stock was sold at an average price of $24.83, for a total transaction of $128,246.95.

Immunovant Price Performance

Shares of NASDAQ:IMVT opened at $38.85 on Monday. The company’s 50-day moving average price is $31.47 and its 200 day moving average price is $27.80. The company has a market cap of $7.98 billion, a PE ratio of -13.97 and a beta of 0.76. Immunovant, Inc. has a fifty-two week low of $14.32 and a fifty-two week high of $39.28.

Immunovant (NASDAQ:IMVT) last posted its earnings results on Wednesday, May 20th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.13). During the same period in the previous year, the company posted ($0.64) EPS. As a group, equities analysts anticipate that Immunovant, Inc. will post -2.65 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on IMVT. HC Wainwright raised their target price on Immunovant from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Citigroup reissued a “buy” rating on shares of Immunovant in a research note on Thursday, May 21st. The Goldman Sachs Group raised their price target on Immunovant from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, April 15th. Bank of America lifted their price objective on shares of Immunovant from $32.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Immunovant in a research report on Wednesday, April 8th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $37.33.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IMVT. Geneos Wealth Management Inc. bought a new position in shares of Immunovant during the 4th quarter valued at about $25,000. Strs Ohio bought a new position in shares of Immunovant in the first quarter valued at $27,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Immunovant during the 3rd quarter valued at $33,000. PNC Financial Services Group Inc. boosted its stake in shares of Immunovant by 138.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,831 shares of the company’s stock worth $46,000 after acquiring an additional 1,646 shares in the last quarter. Finally, Quarry LP grew its holdings in shares of Immunovant by 94.9% in the 4th quarter. Quarry LP now owns 3,000 shares of the company’s stock worth $76,000 after acquiring an additional 1,461 shares during the last quarter. Institutional investors own 47.08% of the company’s stock.

Immunovant Company Profile

Immunovant Inc is a clinical-stage biopharmaceutical company focused on the development of novel monoclonal antibody therapies that target the neonatal Fc receptor (FcRn) to treat severe autoimmune diseases. By inhibiting FcRn, Immunovant’s approach is designed to reduce levels of pathogenic immunoglobulin G (IgG) antibodies, which play a central role in the pathology of disorders such as myasthenia gravis and immune thrombocytopenia.

The company’s lead asset, efgartigimod, is an engineered Fc fragment that selectively binds to FcRn, accelerating the degradation of circulating IgG.