Immunovant (NASDAQ:IMVT) COO Melanie Gloria Sells 17,714 Shares

Immunovant, Inc. (NASDAQ:IMVT) COO Melanie Gloria sold 17,714 shares of the company’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $38.31, for a total value of $678,623.34. Following the completion of the sale, the chief operating officer directly owned 224,393 shares in the company, valued at approximately $8,596,495.83. The trade was a 7.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Melanie Gloria also recently made the following trade(s):

• On Wednesday, April 8th, Melanie Gloria sold 8,722 shares of Immunovant stock. The stock was sold at an average price of $24.83, for a total transaction of $216,567.26.

Immunovant Price Performance

Shares of Immunovant stock opened at $38.85 on Friday. Immunovant, Inc. has a 1 year low of $14.32 and a 1 year high of $39.28. The firm has a market cap of $7.98 billion, a price-to-earnings ratio of -13.97 and a beta of 0.76. The company has a 50-day moving average of $31.47 and a 200 day moving average of $27.77.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings data on Wednesday, May 20th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.13). During the same period last year, the firm posted ($0.64) EPS. On average, equities analysts anticipate that Immunovant, Inc. will post -2.65 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IMVT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immunovant in a research report on Wednesday, April 8th. Bank of America raised 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. Guggenheim lifted their target price on shares of Immunovant from $44.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. HC Wainwright increased their price target on shares of Immunovant from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Finally, Sanford C. Bernstein started coverage on shares of Immunovant in a research report on Friday, March 20th. They set a “market perform” rating and a $28.00 price target for the company. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $37.33.

Institutional Trading of Immunovant

Large investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. purchased a new position in shares of Immunovant during the fourth quarter valued at approximately $25,000. Strs Ohio bought a new position in shares of Immunovant during the 1st quarter valued at $27,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Immunovant in the 3rd quarter worth $33,000. PNC Financial Services Group Inc. boosted its stake in shares of Immunovant by 138.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,831 shares of the company’s stock worth $46,000 after buying an additional 1,646 shares during the last quarter. Finally, Quarry LP grew its holdings in shares of Immunovant by 94.9% in the fourth 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 period. 47.08% of the stock is currently owned by institutional investors.

About Immunovant

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.