Insider Selling: Immunovant, Inc. (NASDAQ:IMVT) Insider Sells 10,115 Shares of Stock

Immunovant, Inc. (NASDAQ:IMVT) insider Julia G. Butchko sold 10,115 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $29.06, for a total transaction of $293,941.90. Following the sale, the insider now directly owns 451,627 shares in the company, valued at approximately $13,124,280.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Immunovant Price Performance

Shares of IMVT traded down $0.10 during trading hours on Friday, hitting $28.22. The stock had a trading volume of 1,078,875 shares, compared to its average volume of 1,234,374. The firm has a 50 day simple moving average of $33.15 and a 200-day simple moving average of $36.10. The firm has a market capitalization of $4.10 billion, a P/E ratio of -15.34 and a beta of 0.65. Immunovant, Inc. has a 1-year low of $15.08 and a 1-year high of $45.58.

Immunovant (NASDAQ:IMVT) last issued its earnings results on Monday, February 12th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.07. Equities analysts predict that Immunovant, Inc. will post -1.7 EPS for the current fiscal year.

Institutional Trading of Immunovant

Large investors have recently made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in shares of Immunovant in the 4th quarter valued at about $27,000. Comerica Bank bought a new position in Immunovant in the 3rd quarter valued at about $26,000. KBC Group NV bought a new position in Immunovant in the 4th quarter valued at about $56,000. Assetmark Inc. bought a new position in Immunovant in the 4th quarter valued at about $61,000. Finally, Barclays PLC lifted its position in Immunovant by 2,558.1% in the 2nd quarter. Barclays PLC now owns 2,286 shares of the company’s stock valued at $43,000 after acquiring an additional 2,200 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IMVT has been the topic of several analyst reports. Oppenheimer initiated coverage on shares of Immunovant in a research note on Thursday, March 28th. They issued an “outperform” rating and a $50.00 price objective on the stock. HC Wainwright boosted their price objective on shares of Immunovant from $47.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, December 21st. JPMorgan Chase & Co. initiated coverage on shares of Immunovant in a research note on Tuesday, February 20th. They issued an “overweight” rating and a $51.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunovant in a research note on Friday, January 12th. Finally, Truist Financial reissued a “buy” rating and issued a $48.00 price objective on shares of Immunovant in a research note on Monday, March 25th. Seventeen research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $48.00.

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.