Insider Selling: Immunovant, Inc. (NASDAQ:IMVT) CEO Sells $131,837.60 in Stock

Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann sold 4,460 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $29.56, for a total value of $131,837.60. Following the transaction, the chief executive officer now directly owns 1,003,884 shares of the company’s stock, valued at approximately $29,674,811.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Peter Salzmann also recently made the following trade(s):

• On Wednesday, July 17th, Peter Salzmann sold 8,685 shares of Immunovant stock. The stock was sold at an average price of $29.69, for a total value of $257,857.65.

Immunovant Price Performance

IMVT opened at $30.40 on Monday. The stock has a market cap of $4.44 billion, a P/E ratio of -16.00 and a beta of 0.66. The stock’s 50 day simple moving average is $29.95 and its 200 day simple moving average is $29.04. Immunovant, Inc. has a 1-year low of $24.67 and a 1-year high of $45.58.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.07). During the same period last year, the business posted ($0.57) earnings per share. Research analysts expect that Immunovant, Inc. will post -2.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Immunovant

Several hedge funds have recently bought and sold shares of the stock. DNB Asset Management AS boosted its holdings in shares of Immunovant by 10.3% during the second quarter. DNB Asset Management AS now owns 10,290 shares of the company’s stock worth $271,000 after purchasing an additional 958 shares during the last quarter. Bamco Inc. NY boosted its holdings in shares of Immunovant by 1.7% during the first quarter. Bamco Inc. NY now owns 60,000 shares of the company’s stock worth $1,939,000 after purchasing an additional 1,000 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Immunovant by 9.4% during the first quarter. ProShare Advisors LLC now owns 19,877 shares of the company’s stock worth $642,000 after purchasing an additional 1,703 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of Immunovant by 216.7% during the second quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock worth $69,000 after purchasing an additional 1,786 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Immunovant by 11.2% during the first quarter. Sei Investments Co. now owns 20,690 shares of the company’s stock worth $668,000 after purchasing an additional 2,085 shares during the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on IMVT shares. JPMorgan Chase & Co. reduced their target price on Immunovant from $51.00 to $46.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. UBS Group reduced their target price on Immunovant from $42.00 to $41.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Raymond James reissued an “outperform” rating and issued a $36.00 target price on shares of Immunovant in a report on Thursday. Oppenheimer boosted their target price on Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a research note on Monday, September 9th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $48.58.

Immunovant Company Profile

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.