Immunovant (NASDAQ:IMVT) Insider Tuyl Christopher Van Sells 2,877 Shares of Stock

Immunovant, Inc. (NASDAQ:IMVT) insider Tuyl Christopher Van sold 2,877 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $24.97, for a total value of $71,838.69. Following the transaction, the insider directly owned 147,053 shares in the company, valued at approximately $3,671,913.41. This represents a 1.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Immunovant Trading Down 2.8%

NASDAQ:IMVT opened at $22.98 on Friday. The company has a market cap of $4.68 billion, a price-to-earnings ratio of -8.54 and a beta of 0.62. Immunovant, Inc. has a twelve month low of $12.72 and a twelve month high of $29.25. The stock has a fifty day simple moving average of $26.09 and a 200-day simple moving average of $22.90.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings results on Friday, February 6th. The company reported ($0.61) EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.11. During the same quarter in the prior year, the firm earned ($0.76) earnings per share. As a group, equities research analysts predict that Immunovant, Inc. will post -2.69 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on IMVT shares. Guggenheim raised their target price on shares of Immunovant from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. HC Wainwright restated a “buy” rating and set a $35.00 target price on shares of Immunovant in a report on Tuesday, February 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Immunovant in a report on Friday, January 9th. Truist Financial raised their price objective on Immunovant from $16.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, January 8th. Finally, The Goldman Sachs Group lifted their target price on shares of Immunovant from $18.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, December 15th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $32.00.

Institutional Investors Weigh In On Immunovant

A number of institutional investors have recently modified their holdings of IMVT. RTW Investments LP acquired a new stake in Immunovant in the 4th quarter valued at $80,781,000. Morgan Stanley grew its stake in Immunovant by 147.4% during the 4th quarter. Morgan Stanley now owns 4,846,385 shares of the company’s stock valued at $123,195,000 after acquiring an additional 2,887,359 shares in the last quarter. ADAR1 Capital Management LLC grew its position in shares of Immunovant by 319.0% in the third quarter. ADAR1 Capital Management LLC now owns 2,241,753 shares of the company’s stock valued at $36,137,000 after purchasing an additional 1,706,687 shares in the last quarter. Logos Global Management LP grew its holdings in Immunovant by 400.0% in the 4th quarter. Logos Global Management LP now owns 1,375,000 shares of the company’s stock valued at $34,952,000 after buying an additional 1,100,000 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Immunovant by 14.0% during the fourth quarter. Vanguard Group Inc. now owns 7,779,314 shares of the company’s stock worth $197,750,000 after purchasing an additional 952,504 shares during the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.

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.