Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann Sells 4,460 Shares of Stock

Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann sold 4,460 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $29.56, for a total transaction of $131,837.60. Following the sale, the chief executive officer now directly owns 1,003,884 shares of the company’s stock, valued at $29,674,811.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, July 17th, Peter Salzmann sold 8,685 shares of Immunovant stock. The shares were sold at an average price of $29.69, for a total transaction of $257,857.65.

Immunovant Price Performance

Shares of IMVT opened at $30.40 on Friday. Immunovant, Inc. has a 1 year low of $24.67 and a 1 year high of $45.58. The company has a 50 day simple moving average of $29.95 and a two-hundred day simple moving average of $29.08. The firm has a market cap of $4.45 billion, a P/E ratio of -15.75 and a beta of 0.66.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.07). During the same quarter last year, the firm earned ($0.57) EPS. On average, sell-side analysts anticipate that Immunovant, Inc. will post -2.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IMVT. Raymond James reaffirmed an “outperform” rating and set a $36.00 price target on shares of Immunovant in a research report on Thursday. UBS Group reduced their price target on shares of Immunovant from $42.00 to $41.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. JPMorgan Chase & Co. reduced their price target on shares of Immunovant from $51.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Oppenheimer upped 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. Finally, HC Wainwright reissued a “buy” rating and issued a $51.00 target price on shares of Immunovant in a report on Monday, September 30th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $48.58.

Institutional Investors Weigh In On Immunovant

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Immunovant by 11.2% during the 1st quarter. Vanguard Group Inc. now owns 6,478,304 shares of the company’s stock valued at $209,314,000 after buying an additional 650,506 shares in the last quarter. Armistice Capital LLC grew its holdings in Immunovant by 57.0% during the 2nd quarter. Armistice Capital LLC now owns 3,396,909 shares of the company’s stock valued at $89,678,000 after buying an additional 1,232,909 shares in the last quarter. Alpine Global Management LLC boosted its position in shares of Immunovant by 34.6% during the 1st quarter. Alpine Global Management LLC now owns 1,882,704 shares of the company’s stock valued at $60,830,000 after acquiring an additional 484,332 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Immunovant by 16.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,862,043 shares of the company’s stock valued at $60,163,000 after acquiring an additional 259,481 shares during the last quarter. Finally, First Turn Management LLC boosted its position in shares of Immunovant by 35.6% during the 2nd quarter. First Turn Management LLC now owns 695,428 shares of the company’s stock valued at $18,359,000 after acquiring an additional 182,535 shares during the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

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.