Immunovant, Inc. (NASDAQ:IMVT) Insider Michael Geffner Sells 3,456 Shares

Immunovant, Inc. (NASDAQ:IMVT) insider Michael Geffner sold 3,456 shares of Immunovant stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $27.76, for a total transaction of $95,938.56. Following the transaction, the insider now owns 138,160 shares of the company’s stock, valued at approximately $3,835,321.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Immunovant Stock Performance

Immunovant stock opened at $29.10 on Monday. Immunovant, Inc. has a 1 year low of $18.82 and a 1 year high of $45.58. The firm has a 50 day moving average price of $27.59 and a 200 day moving average price of $31.43. The company has a market cap of $4.25 billion, a price-to-earnings ratio of -15.32 and a beta of 0.67.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings data on Wednesday, May 29th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.08). During the same quarter in the prior year, the firm earned ($0.46) EPS. Sell-side analysts predict that Immunovant, Inc. will post -2.11 EPS for the current year.

Institutional Investors Weigh In On Immunovant

Several institutional investors and hedge funds have recently added to or reduced their stakes in IMVT. Vanguard Group Inc. grew its holdings in shares of Immunovant by 14.0% during the 3rd quarter. Vanguard Group Inc. now owns 6,233,146 shares of the company’s stock worth $239,290,000 after purchasing an additional 764,530 shares during the period. CoreCap Advisors LLC lifted its position in Immunovant by 11.2% during the fourth quarter. CoreCap Advisors LLC now owns 6,407 shares of the company’s stock valued at $270,000 after buying an additional 647 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Immunovant during the fourth quarter worth approximately $5,109,000. China Universal Asset Management Co. Ltd. grew its stake in Immunovant by 398.0% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 16,734 shares of the company’s stock worth $705,000 after buying an additional 13,374 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Immunovant by 590.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 42,865 shares of the company’s stock worth $1,806,000 after acquiring an additional 36,659 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on IMVT shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a research note on Tuesday, June 18th. Oppenheimer decreased their price objective on Immunovant from $50.00 to $46.00 and set an “outperform” rating on the stock in a research note on Monday, June 3rd. Finally, HC Wainwright reiterated a “buy” rating and set a $51.00 price objective on shares of Immunovant in a research report on Thursday, May 30th. Fifteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Immunovant currently has an average rating of “Buy” and an average target price of $49.73.

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.