Immunovant (NASDAQ:IMVT) Insider Tuyl Christopher Van Sells 5,165 Shares of Stock

Immunovant, Inc. (NASDAQ:IMVT) insider Tuyl Christopher Van sold 5,165 shares of Immunovant stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $24.83, for a total transaction of $128,246.95. Following the completion of the transaction, the insider owned 183,231 shares in the company, valued at approximately $4,549,625.73. This trade represents a 2.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Tuyl Christopher Van also recently made the following trade(s):

• On Wednesday, March 18th, Tuyl Christopher Van sold 2,877 shares of Immunovant stock. The shares were sold at an average price of $24.97, for a total transaction of $71,838.69.

Immunovant Stock Down 4.5%

Shares of IMVT opened at $24.50 on Friday. The firm has a market cap of $4.99 billion, a PE ratio of -9.11 and a beta of 0.67. The company’s fifty day moving average is $25.60 and its two-hundred day moving average is $23.80. Immunovant, Inc. has a fifty-two week low of $13.36 and a fifty-two week high of $29.25.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings results on Friday, February 6th. The company reported ($0.61) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.11. During the same quarter last year, the business posted ($0.76) earnings per share. As a group, equities research analysts anticipate that Immunovant, Inc. will post -2.69 earnings per share for the current year.

Hedge Funds Weigh In On Immunovant

Institutional investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. acquired a new position in Immunovant in the 4th quarter worth $25,000. Strs Ohio acquired a new position in Immunovant in the 1st quarter worth $27,000. Aster Capital Management DIFC Ltd acquired a new position in Immunovant in the 3rd quarter worth $33,000. PNC Financial Services Group Inc. lifted its holdings in Immunovant by 138.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,831 shares of the company’s stock worth $46,000 after buying an additional 1,646 shares in the last quarter. Finally, Quarry LP lifted its holdings in Immunovant by 94.9% in the 4th quarter. Quarry LP now owns 3,000 shares of the company’s stock worth $76,000 after buying an additional 1,461 shares in the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on IMVT shares. The Goldman Sachs Group lifted their target price on shares of Immunovant from $18.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, December 15th. Sanford C. Bernstein began coverage on Immunovant in a research report on Friday, March 20th. They issued a “market perform” rating and a $28.00 price objective on the stock. HC Wainwright reissued a “buy” rating and issued a $35.00 price objective on shares of Immunovant in a research report on Tuesday, February 10th. Wolfe Research raised Immunovant from a “peer perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research report on Tuesday, January 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Immunovant in a research report on Wednesday. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $32.00.

About Immunovant

Immunovant Inc is a clinical-stage biopharmaceutical company focused on the development of novel monoclonal antibody therapies that target the neonatal Fc receptor (FcRn) to treat severe autoimmune diseases. By inhibiting FcRn, Immunovant’s approach is designed to reduce levels of pathogenic immunoglobulin G (IgG) antibodies, which play a central role in the pathology of disorders such as myasthenia gravis and immune thrombocytopenia.

The company’s lead asset, efgartigimod, is an engineered Fc fragment that selectively binds to FcRn, accelerating the degradation of circulating IgG.