Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann Sells 8,767 Shares of Stock

Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann sold 8,767 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $23.83, for a total transaction of $208,917.61. Following the transaction, the chief executive officer now owns 964,225 shares in the company, valued at $22,977,481.75. This represents a 0.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Peter Salzmann also recently made the following trade(s):

• On Wednesday, January 8th, Peter Salzmann sold 5,105 shares of Immunovant stock. The stock was sold at an average price of $24.10, for a total value of $123,030.50.
• On Wednesday, November 20th, Peter Salzmann sold 16,692 shares of Immunovant stock. The shares were sold at an average price of $25.45, for a total value of $424,811.40.
• On Wednesday, November 20th, Peter Salzmann sold 16,692 shares of Immunovant stock. The stock was sold at an average price of $25.45, for a total value of $424,811.40.

Immunovant Price Performance

IMVT stock opened at $23.86 on Friday. The stock has a market capitalization of $3.50 billion, a P/E ratio of -10.75 and a beta of 0.66. Immunovant, Inc. has a 1-year low of $22.41 and a 1-year high of $41.38. The business has a fifty day moving average price of $26.53 and a 200-day moving average price of $28.50.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its stake in Immunovant by 9.7% during the 2nd quarter. Rhumbline Advisers now owns 83,532 shares of the company’s stock valued at $2,205,000 after buying an additional 7,363 shares during the last quarter. Renaissance Technologies LLC increased its position in Immunovant by 14.2% during the second quarter. Renaissance Technologies LLC now owns 388,100 shares of the company’s stock valued at $10,246,000 after acquiring an additional 48,400 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Immunovant in the second quarter valued at about $5,275,000. Ensign Peak Advisors Inc boosted its position in Immunovant by 22.2% in the second quarter. Ensign Peak Advisors Inc now owns 204,221 shares of the company’s stock worth $5,391,000 after purchasing an additional 37,165 shares during the last quarter. Finally, Rubric Capital Management LP bought a new stake in shares of Immunovant during the 2nd quarter valued at about $1,548,000. Institutional investors own 47.08% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Wolfe Research cut shares of Immunovant from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. HC Wainwright restated a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a report on Friday, November 8th. Bank of America decreased their target price on shares of Immunovant from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday. Wells Fargo & Company dropped their price target on Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, Raymond James reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Immunovant in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $47.00.

About Immunovant

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.