Immunovant, Inc. (NASDAQ:IMVT) Insider Michael Geffner Sells 1,160 Shares

Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) insider Michael Geffner sold 1,160 shares of the firm's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $17.24, for a total value of $19,998.40. Following the sale, the insider directly owned 224,210 shares of the company's stock, valued at approximately $3,865,380.40. This represents a 0.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Michael Geffner also recently made the following trade(s):

• On Wednesday, April 23rd, Michael Geffner sold 2,349 shares of Immunovant stock. The shares were sold at an average price of $14.79, for a total value of $34,741.71.

Immunovant Trading Up 2.5%

Shares of IMVT stock traded up $0.46 on Monday, hitting $18.59. 1,337,808 shares of the stock were exchanged, compared to its average volume of 1,218,289. The firm has a market capitalization of $3.18 billion, a PE ratio of -6.78 and a beta of 0.63. Immunovant, Inc. has a one year low of $12.72 and a one year high of $34.47. The firm's 50 day moving average is $15.55 and its two-hundred day moving average is $18.04.

Immunovant (NASDAQ:IMVT - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported ($0.64) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.08. The firm had revenue of $0.16 million for the quarter. During the same period last year, the firm earned ($0.52) EPS. On average, sell-side analysts expect that Immunovant, Inc. will post -2.69 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Strs Ohio bought a new position in Immunovant in the 1st quarter worth about $27,000. FNY Investment Advisers LLC bought a new position in Immunovant in the 1st quarter worth about $34,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Immunovant in the 1st quarter worth about $37,000. Farther Finance Advisors LLC boosted its stake in Immunovant by 142,750.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,857 shares of the company's stock worth $46,000 after purchasing an additional 2,855 shares during the period. Finally, Headlands Technologies LLC bought a new position in Immunovant in the 1st quarter worth about $51,000. Institutional investors own 47.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Guggenheim reaffirmed a "buy" rating on shares of Immunovant in a research report on Thursday, March 20th. The Goldman Sachs Group raised Immunovant to a "hold" rating and set a $18.00 target price for the company in a research report on Thursday. Bank of America decreased their target price on Immunovant from $38.00 to $33.00 and set a "buy" rating for the company in a research report on Thursday, March 20th. UBS Group reaffirmed a "neutral" rating and set a $17.00 target price (down from $38.00) on shares of Immunovant in a research report on Tuesday, April 22nd. Finally, HC Wainwright reiterated a "buy" rating and set a $51.00 price target on shares of Immunovant in a research note on Wednesday, March 19th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Immunovant currently has a consensus rating of "Moderate Buy" and an average price target of $36.30.

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.