Eva Renee Barnett Sells 2,298 Shares of Immunovant, Inc. (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) CFO Eva Renee Barnett sold 2,298 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $23.83, for a total transaction of $54,761.34. Following the completion of the sale, the chief financial officer now directly owns 324,766 shares of the company’s stock, valued at $7,739,173.78. The trade was a 0.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Wednesday, January 8th, Eva Renee Barnett sold 4,105 shares of Immunovant stock. The shares were sold at an average price of $24.10, for a total transaction of $98,930.50.
• On Wednesday, November 20th, Eva Renee Barnett sold 4,174 shares of Immunovant stock. The shares were sold at an average price of $25.45, for a total transaction of $106,228.30.
• On Wednesday, November 20th, Eva Renee Barnett sold 4,174 shares of Immunovant stock. The shares were sold at an average price of $25.45, for a total transaction of $106,228.30.

Immunovant Trading Up 0.3 %

Immunovant stock opened at $23.86 on Friday. The company has a market cap 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 company has a fifty day simple moving average of $26.39 and a 200 day simple moving average of $28.47.

Immunovant (NASDAQ:IMVT) last released 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 quarter last year, the company earned ($0.45) EPS. On average, equities research analysts forecast that Immunovant, Inc. will post -2.75 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on IMVT shares. Wells Fargo & Company lowered their target price on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Wolfe Research downgraded shares of Immunovant from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Raymond James reissued an “outperform” rating and set a $36.00 price objective on shares of Immunovant in a research report on Thursday, October 10th. Bank of America lowered their price objective on shares of Immunovant from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Oppenheimer increased their price objective on shares of Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.00.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in IMVT. KBC Group NV lifted its stake in Immunovant by 46.2% in the third quarter. KBC Group NV now owns 1,936 shares of the company’s stock valued at $55,000 after acquiring an additional 612 shares during the last quarter. Assetmark Inc. lifted its stake in Immunovant by 73.8% in the third quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock valued at $82,000 after acquiring an additional 1,228 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Immunovant by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock valued at $148,000 after acquiring an additional 934 shares during the last quarter. Bank Pictet & Cie Europe AG acquired a new stake in Immunovant in the third quarter valued at $261,000. Finally, Farallon Capital Management LLC acquired a new stake in Immunovant in the second quarter valued at $317,000. Institutional investors own 47.08% of the company’s stock.

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.