Immunovant (NASDAQ:IMVT) CTO Jay Stout Sells 1,977 Shares

Immunovant, Inc. (NASDAQ:IMVT) CTO Jay Stout sold 1,977 shares of the business’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $26.03, for a total transaction of $51,461.31. Following the completion of the transaction, the chief technology officer directly owned 197,634 shares of the company’s stock, valued at $5,144,413.02. This trade represents a 0.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Immunovant Price Performance

IMVT traded down $0.17 during trading on Friday, reaching $26.01. The company had a trading volume of 1,131,544 shares, compared to its average volume of 1,652,440. The company has a market cap of $4.56 billion, a P/E ratio of -9.16 and a beta of 0.57. Immunovant, Inc. has a 12 month low of $12.72 and a 12 month high of $27.80. The business’s fifty day moving average price is $25.07 and its 200 day moving average price is $20.11.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.01). During the same quarter in the prior year, the business posted ($0.74) EPS. As a group, sell-side analysts predict that Immunovant, Inc. will post -2.69 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of Immunovant from $37.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, September 30th. The Goldman Sachs Group raised their price objective on Immunovant from $18.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, December 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immunovant in a report on Friday, January 9th. Guggenheim reissued a “buy” rating and set a $41.00 target price on shares of Immunovant in a report on Thursday, December 18th. Finally, Wolfe Research upgraded Immunovant from a “peer perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Immunovant has a consensus rating of “Moderate Buy” and a consensus target price of $30.78.

Institutional Trading of Immunovant

Several institutional investors have recently added to or reduced their stakes in IMVT. Deep Track Capital LP raised its position in shares of Immunovant by 2.4% in the 3rd quarter. Deep Track Capital LP now owns 9,728,845 shares of the company’s stock worth $156,829,000 after acquiring an additional 228,845 shares in the last quarter. Armistice Capital LLC grew its stake in Immunovant by 12.2% during the third quarter. Armistice Capital LLC now owns 5,836,000 shares of the company’s stock worth $94,076,000 after purchasing an additional 636,000 shares during the period. Two Seas Capital LP increased its holdings in Immunovant by 22.6% in the third quarter. Two Seas Capital LP now owns 2,762,040 shares of the company’s stock worth $44,524,000 after purchasing an additional 509,268 shares in the last quarter. Alpine Global Management LLC increased its holdings in Immunovant by 4.9% in the third quarter. Alpine Global Management LLC now owns 2,754,731 shares of the company’s stock worth $44,406,000 after purchasing an additional 128,039 shares in the last quarter. Finally, ADAR1 Capital Management LLC boosted its holdings in shares of Immunovant by 319.0% during the 3rd quarter. ADAR1 Capital Management LLC now owns 2,241,753 shares of the company’s stock worth $36,137,000 after buying an additional 1,706,687 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors.

Immunovant Company Profile

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.