Immunovant (NASDAQ:IMVT) Insider Tuyl Christopher Van Sells 17,824 Shares

Immunovant, Inc. (NASDAQ:IMVT) insider Tuyl Christopher Van sold 17,824 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $38.31, for a total value of $682,837.44. Following the transaction, the insider owned 180,597 shares in the company, valued at $6,918,671.07. The trade was a 8.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Wednesday, April 8th, Tuyl Christopher Van sold 5,165 shares of Immunovant stock. The shares were sold at an average price of $24.83, for a total transaction of $128,246.95.

Immunovant Price Performance

Shares of Immunovant stock traded up $0.61 during trading on Friday, reaching $38.85. 3,718,031 shares of the company traded hands, compared to its average volume of 1,598,367. The firm has a market capitalization of $7.98 billion, a PE ratio of -13.97 and a beta of 0.76. Immunovant, Inc. has a 1-year low of $14.32 and a 1-year high of $39.28. The company has a 50 day moving average price of $31.24 and a 200-day moving average price of $27.69.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings results on Wednesday, May 20th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.13). During the same period last year, the business posted ($0.64) EPS. Equities research analysts expect that Immunovant, Inc. will post -2.65 earnings per share for the current year.

Institutional Trading of Immunovant

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IMVT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Immunovant by 8.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,971 shares of the company’s stock worth $708,000 after purchasing an additional 3,348 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Immunovant by 48.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,007,700 shares of the company’s stock worth $17,222,000 after buying an additional 329,354 shares in the last quarter. Strs Ohio purchased a new stake in Immunovant in the 1st quarter valued at $27,000. Legal & General Group Plc raised its position in Immunovant by 6.9% in the 2nd quarter. Legal & General Group Plc now owns 77,296 shares of the company’s stock valued at $1,237,000 after buying an additional 5,010 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Immunovant by 20.7% during the 2nd quarter. Invesco Ltd. now owns 66,750 shares of the company’s stock valued at $1,068,000 after acquiring an additional 11,438 shares in the last quarter. 47.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. The Goldman Sachs Group raised their price objective on Immunovant from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, April 15th. HC Wainwright increased their target price on Immunovant from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Immunovant in a research report on Wednesday, April 8th. Sanford C. Bernstein assumed coverage on shares of Immunovant in a research note on Friday, March 20th. They set a “market perform” rating and a $28.00 price target for the company. Finally, Bank of America upped their price objective on shares of Immunovant from $32.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Immunovant presently has an average rating of “Hold” and an average target price of $37.33.

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.