Immunovant, Inc. (NASDAQ:IMVT) CTO Jay S. Stout Sells 2,195 Shares

Immunovant, Inc. (NASDAQ:IMVT) CTO Jay S. Stout sold 2,195 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $23.59, for a total transaction of $51,780.05. Following the sale, the chief technology officer now directly owns 139,991 shares of the company’s stock, valued at approximately $3,302,387.69. The trade was a 1.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Immunovant Stock Down 1.5 %

Shares of NASDAQ IMVT opened at $23.05 on Friday. The firm’s 50-day moving average is $25.93 and its 200-day moving average is $28.39. Immunovant, Inc. has a 1 year low of $22.41 and a 1 year high of $39.55.

Immunovant (NASDAQ:IMVT) last released its earnings results on Thursday, November 7th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.15). During the same period in the previous year, the business earned ($0.45) EPS. As a group, analysts predict that Immunovant, Inc. will post -2.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Immunovant

Hedge funds have recently added to or reduced their stakes in the stock. KBC Group NV increased its stake in Immunovant by 46.2% in the third quarter. KBC Group NV now owns 1,936 shares of the company’s stock valued at $55,000 after purchasing an additional 612 shares in the last quarter. Assetmark Inc. increased its position in shares of Immunovant by 73.8% in the 3rd quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock valued at $82,000 after buying an additional 1,228 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Immunovant by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock worth $148,000 after buying an additional 934 shares during the period. Bank Pictet & Cie Europe AG bought a new position in Immunovant during the third quarter worth about $261,000. Finally, Scientech Research LLC acquired a new position in Immunovant in the second quarter valued at about $334,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on IMVT shares. Raymond James reaffirmed an “outperform” rating and set a $36.00 price target on shares of Immunovant in a report on Thursday, October 10th. Wells Fargo & Company lowered their target price on Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Wolfe Research downgraded shares of Immunovant from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Bank of America decreased their price objective on shares of Immunovant from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. Finally, Oppenheimer boosted their target price on shares of Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Immunovant presently has a consensus rating of “Moderate Buy” and an average target price of $47.00.

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.