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 stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $23.59, for a total value of $51,780.05. Following the transaction, the chief technology officer now owns 139,991 shares in the company, valued at approximately $3,302,387.69. This trade represents a 1.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Immunovant Stock Performance

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

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

Institutional Trading of Immunovant

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

Analyst Ratings Changes

IMVT has been the topic of a number of research analyst reports. Wolfe Research lowered shares of Immunovant from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Wells Fargo & Company cut their price objective on Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Oppenheimer raised their target price on Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. HC Wainwright reiterated a “buy” rating and set a $51.00 price target on shares of Immunovant in a report on Friday, November 8th. Finally, Bank of America reduced their price objective on Immunovant from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Immunovant presently has an average rating of “Moderate Buy” and an average 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.