Mark S. Levine Sells 3,650 Shares of Immunovant, Inc. (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) insider Mark S. Levine sold 3,650 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $25.45, for a total value of $92,892.50. Following the completion of the transaction, the insider now directly owns 319,228 shares in the company, valued at $8,124,352.60. This trade represents a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Immunovant Trading Up 1.2 %

IMVT opened at $26.87 on Friday. Immunovant, Inc. has a twelve month low of $24.61 and a twelve month high of $45.58. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of -12.10 and a beta of 0.66. The company has a fifty day simple moving average of $29.08 and a 200 day simple moving average of $28.90.

Immunovant (NASDAQ:IMVT) last announced its earnings results on Thursday, November 7th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.15). During the same quarter in the prior year, the business posted ($0.45) earnings per share. On average, analysts forecast that Immunovant, Inc. will post -2.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on IMVT. Cantor Fitzgerald restated an “overweight” rating on shares of Immunovant in a research note on Monday, September 9th. Oppenheimer lifted their price target on shares of Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Raymond James reissued an “outperform” rating and issued a $36.00 price objective on shares of Immunovant in a research report on Thursday, October 10th. UBS Group cut their target price on shares of Immunovant from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Finally, HC Wainwright reiterated a “buy” rating and issued a $51.00 price target on shares of Immunovant in a report on Friday, November 8th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $48.10.

Institutional Investors Weigh In On Immunovant

A number of hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in shares of Immunovant by 6.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,510,926 shares of the company’s stock valued at $43,085,000 after buying an additional 96,924 shares during the last quarter. State Street Corp raised its holdings in Immunovant by 11.2% in the third quarter. State Street Corp now owns 3,022,342 shares of the company’s stock valued at $86,167,000 after acquiring an additional 303,386 shares in the last quarter. Baker BROS. Advisors LP raised its holdings in Immunovant by 163.7% in the third quarter. Baker BROS. Advisors LP now owns 1,225,410 shares of the company’s stock valued at $34,936,000 after acquiring an additional 760,692 shares in the last quarter. Erste Asset Management GmbH bought a new position in Immunovant during the 3rd quarter valued at $1,471,000. Finally, Advantage Alpha Capital Partners LP acquired a new position in Immunovant during the 3rd quarter worth $427,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

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.