Immunovant, Inc. (NASDAQ:IMVT) CFO Eva Renee Barnett Sells 3,123 Shares

Immunovant, Inc. (NASDAQ:IMVT) CFO Eva Renee Barnett sold 3,123 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $29.69, for a total value of $92,721.87. Following the sale, the chief financial officer now owns 347,544 shares of the company’s stock, valued at approximately $10,318,581.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Eva Renee Barnett also recently made the following trade(s):

• On Tuesday, July 9th, Eva Renee Barnett sold 4,747 shares of Immunovant stock. The stock was sold at an average price of $28.06, for a total transaction of $133,200.82.
• On Wednesday, May 22nd, Eva Renee Barnett sold 4,042 shares of Immunovant stock. The stock was sold at an average price of $29.65, for a total transaction of $119,845.30.

Immunovant Stock Performance

Shares of Immunovant stock opened at $27.97 on Monday. The stock has a market capitalization of $4.09 billion, a P/E ratio of -14.72 and a beta of 0.67. The stock’s 50-day simple moving average is $27.84 and its 200 day simple moving average is $31.93. Immunovant, Inc. has a 52-week low of $18.82 and a 52-week high of $45.58.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings data on Wednesday, May 29th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.08). During the same period last year, the firm earned ($0.46) earnings per share. Equities research analysts forecast that Immunovant, Inc. will post -2.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP bought a new stake in shares of Immunovant during the 3rd quarter valued at about $6,473,000. Vanguard Group Inc. increased its holdings in shares of Immunovant by 14.0% in the 3rd quarter. Vanguard Group Inc. now owns 6,233,146 shares of the company’s stock worth $239,290,000 after buying an additional 764,530 shares during the last quarter. Legato Capital Management LLC raised its position in shares of Immunovant by 74.7% during the 4th quarter. Legato Capital Management LLC now owns 11,840 shares of the company’s stock valued at $499,000 after buying an additional 5,061 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in shares of Immunovant by 11.2% during the 4th quarter. CoreCap Advisors LLC now owns 6,407 shares of the company’s stock worth $270,000 after acquiring an additional 647 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in Immunovant in the fourth quarter worth $5,109,000. Institutional investors own 47.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Immunovant in a report on Tuesday, June 18th. HC Wainwright reissued a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a research report on Thursday, May 30th. Truist Financial reaffirmed a “buy” rating and set a $48.00 target price on shares of Immunovant in a research report on Monday, March 25th. Finally, Oppenheimer cut their price target on shares of Immunovant from $50.00 to $46.00 and set an “outperform” rating on the stock in a report on Monday, June 3rd. Fifteen investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus 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.