Immunovant (NASDAQ:IMVT) Stock: Insider Tuyl Christopher Van Sells 1,327 Shares

Immunovant, Inc. (NASDAQ:IMVT) insider Christopher Van Tuyl sold 1,327 shares of the stock in a transaction that occurred on Wednesday, October 7th. The shares were sold at an average price of $32.06, for a total value of $42,543.62. Following the transaction, the insider owned 175,218 shares in the company, valued at $5,617,489.08. This trade represents a 0.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Wednesday, September 23rd, Christopher Van Tuyl sold 2,846 shares of Immunovant stock. The stock was sold at an average price of $36.36, for a total transaction of $103,480.56.

Immunovant Price Performance

NASDAQ IMVT traded up $0.21 on Friday, hitting $30.47. The company had a trading volume of 1,494,823 shares, compared to its average volume of 1,514,941. The company’s fifty day moving average price is $38.58 and its 200-day moving average price is $34.46. The company has a market capitalization of $6.29 billion, a PE ratio of -10.80 and a beta of 0.84. Immunovant, Inc. has a 12-month low of $16.59 and a 12-month high of $45.42.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.12). The business had revenue of $7.09 million for the quarter, compared to analyst estimates of $7.09 million. During the same quarter last year, the firm posted ($0.71) earnings per share. On average, sell-side analysts anticipate that Immunovant, Inc. will post -2.96 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Citigroup reiterated a “positive” rating on shares of Immunovant in a research note on Thursday, September 24th. JPMorgan Chase & Co. lifted their price target on Immunovant from $47.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Immunovant in a research note on Friday, October 2nd. UBS Group restated a “buy” rating on shares of Immunovant in a report on Wednesday, September 23rd. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Immunovant in a research note on Thursday, September 24th. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Immunovant currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.00.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of IMVT. GAMMA Investing LLC boosted its holdings in shares of Immunovant by 63.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,224 shares of the company’s stock worth $41,000 after purchasing an additional 476 shares during the last quarter. Two Seas Capital LP increased its holdings in shares of Immunovant by 46.5% in the third quarter. Two Seas Capital LP now owns 4,612,692 shares of the company’s stock valued at $155,817,000 after purchasing an additional 1,464,187 shares during the last quarter. Engineers Gate Manager LP lifted its position in Immunovant by 179.7% during the second quarter. Engineers Gate Manager LP now owns 24,220 shares of the company’s stock worth $933,000 after buying an additional 15,560 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Immunovant during the second quarter worth approximately $2,996,000. Finally, Nykredit A S acquired a new position in Immunovant during the second quarter worth $174,000. 47.08% of the stock is owned by hedge funds and other institutional investors.

About Immunovant

Immunovant, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for autoimmune diseases. The company’s approach centers on targeting the neonatal Fc receptor (FcRn), a protein involved in the recycling of immunoglobulin G antibodies that can contribute to autoimmune activity.

Immunovant’s lead product candidate is batoclimab (IMVT-1401), a fully human monoclonal antibody designed to reduce circulating disease-causing antibodies. The company has evaluated batoclimab in several autoimmune conditions, including generalized myasthenia gravis and Graves’ disease, and has also pursued development in other antibody-mediated disorders.