Michael Geffner Sells 2,349 Shares of Immunovant, Inc. (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) insider Michael Geffner sold 2,349 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $14.79, for a total value of $34,741.71. Following the completion of the transaction, the insider now directly owns 225,370 shares in the company, valued at approximately $3,333,222.30. This trade represents a 1.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Immunovant Price Performance

Shares of IMVT stock opened at $14.72 on Monday. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of -5.62 and a beta of 0.81. The business has a fifty day moving average of $17.50 and a 200 day moving average of $23.02. Immunovant, Inc. has a 1 year low of $12.72 and a 1 year high of $34.47.

Immunovant (NASDAQ:IMVT) last issued its earnings results on Monday, February 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.08). As a group, equities research analysts expect that Immunovant, Inc. will post -2.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Wolfe Research cut Immunovant from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. HC Wainwright reiterated a “buy” rating and set a $51.00 price objective on shares of Immunovant in a report on Wednesday, March 19th. Guggenheim reiterated a “buy” rating on shares of Immunovant in a report on Thursday, March 20th. Cantor Fitzgerald upgraded Immunovant to a “strong-buy” rating in a report on Tuesday, March 4th. Finally, Jefferies Financial Group began coverage on Immunovant in a report on Monday, March 3rd. They set a “hold” rating and a $20.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $38.33.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. raised its position in Immunovant by 21.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,928 shares of the company’s stock valued at $109,000 after acquiring an additional 1,037 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in Immunovant during the first quarter valued at approximately $34,000. Rhumbline Advisers raised its position in Immunovant by 3.2% during the first quarter. Rhumbline Advisers now owns 83,555 shares of the company’s stock valued at $1,428,000 after acquiring an additional 2,623 shares in the last quarter. GAMMA Investing LLC raised its position in Immunovant by 3,816.8% during the first quarter. GAMMA Investing LLC now owns 5,366 shares of the company’s stock valued at $920,000 after acquiring an additional 5,229 shares in the last quarter. Finally, GF Fund Management CO. LTD. purchased a new position in Immunovant during the fourth quarter valued at approximately $76,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

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.