Jay S. Stout Sells 2,195 Shares of Immunovant, Inc. (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) CTO Jay S. Stout sold 2,195 shares of Immunovant 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 of the company’s stock, valued at approximately $3,302,387.69. This represents a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Immunovant Stock Down 1.5 %

Shares of IMVT traded down $0.35 during midday trading on Friday, reaching $23.05. The company had a trading volume of 1,173,398 shares, compared to its average volume of 1,093,133. Immunovant, Inc. has a 1-year low of $22.41 and a 1-year high of $39.55. The firm has a 50 day simple moving average of $25.93 and a 200-day simple moving average of $28.39. The stock has a market cap of $3.38 billion, a PE ratio of -10.38 and a beta of 0.66.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings data 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 period in the previous year, the business posted ($0.45) EPS. As a group, sell-side analysts anticipate that Immunovant, Inc. will post -2.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on IMVT. Wells Fargo & Company decreased 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. HC Wainwright reiterated a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a research report on Friday, November 8th. Bank of America dropped their target price on Immunovant from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. Oppenheimer upped their price target on Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Finally, Wolfe Research lowered Immunovant from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.00.

Institutional Trading of Immunovant

Institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. increased its stake in Immunovant by 7.4% during the third quarter. Victory Capital Management Inc. now owns 335,360 shares of the company’s stock worth $9,561,000 after acquiring an additional 22,990 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Immunovant by 19.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 552,430 shares of the company’s stock worth $15,750,000 after purchasing an additional 91,259 shares during the period. Principal Financial Group Inc. increased its position in shares of Immunovant by 69.9% during the 3rd quarter. Principal Financial Group Inc. now owns 951,124 shares of the company’s stock worth $27,117,000 after purchasing an additional 391,436 shares during the last quarter. State Street Corp lifted its position in Immunovant by 11.2% in the third quarter. State Street Corp now owns 3,022,342 shares of the company’s stock valued at $86,167,000 after buying an additional 303,386 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Immunovant by 6.9% in the third quarter. Geode Capital Management LLC now owns 1,510,926 shares of the company’s stock valued at $43,085,000 after buying an additional 96,924 shares during the last quarter. Hedge funds and other 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.