William L. Macias Sells 2,383 Shares of Immunovant, Inc. (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) insider William L. Macias sold 2,383 shares of Immunovant stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $23.83, for a total transaction of $56,786.89. Following the completion of the sale, the insider now owns 359,408 shares of the company’s stock, valued at $8,564,692.64. This trade represents a 0.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Immunovant Trading Up 0.3 %

NASDAQ:IMVT traded up $0.06 during mid-day trading on Friday, hitting $23.86. 1,032,612 shares of the company’s stock were exchanged, compared to its average volume of 1,051,056. Immunovant, Inc. has a fifty-two week low of $22.41 and a fifty-two week high of $41.38. The firm has a market capitalization of $3.50 billion, a P/E ratio of -10.75 and a beta of 0.66. The company has a 50 day simple moving average of $26.53 and a 200-day simple moving average of $28.50.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. KBC Group NV increased its stake in shares of 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 buying an additional 612 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Immunovant by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock valued at $148,000 after purchasing an additional 934 shares during the period. Assetmark Inc. raised its holdings in Immunovant by 73.8% during the 3rd quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock worth $82,000 after purchasing an additional 1,228 shares during the last quarter. Tyro Capital Management LLC lifted its position in shares of Immunovant by 0.6% in the 3rd quarter. Tyro Capital Management LLC now owns 252,149 shares of the company’s stock worth $7,189,000 after purchasing an additional 1,529 shares during the period. Finally, Squarepoint Ops LLC boosted its stake in shares of Immunovant by 5.6% in the 2nd quarter. Squarepoint Ops LLC now owns 49,288 shares of the company’s stock valued at $1,301,000 after purchasing an additional 2,615 shares during the last quarter. 47.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on IMVT. Oppenheimer lifted 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, October 9th. HC Wainwright reaffirmed a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a report on Friday, November 8th. Wells Fargo & Company cut their target price on Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Bank of America decreased their price target on Immunovant from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Wolfe Research cut shares of Immunovant from an “outperform” rating to a “peer perform” rating in a research 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $47.00.

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.