Immunovant, Inc. (NASDAQ:IMVT) Insider Sells $43,287.75 in Stock

Key Points

• Insider Michael Geffner sold 2,385 shares of Immunovant stock for a total of $43,287.75, resulting in a 1.06% decrease in his ownership.
• Immunovant's shares reached $16.95 after a decline of $1.37 during midday trading, with the stock showing a 12-month range between $12.72 and $34.47.
• Recent analyst reports have set a new price target for Immunovant, with UBS Group reissuing a "neutral" rating and a price objective of $17.00, down from $38.00.

Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) insider Michael Geffner sold 2,385 shares of Immunovant stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $18.15, for a total value of $43,287.75. Following the completion of the transaction, the insider directly owned 221,825 shares of the company's stock, valued at approximately $4,026,123.75. This trade represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Wednesday, July 9th, Michael Geffner sold 1,160 shares of Immunovant stock. The stock was sold at an average price of $17.24, for a total value of $19,998.40.

Immunovant Price Performance

Shares of NASDAQ IMVT traded down $1.37 during midday trading on Friday, reaching $16.95. The company's stock had a trading volume of 4,512,781 shares, compared to its average volume of 1,138,698. Immunovant, Inc. has a 12-month low of $12.72 and a 12-month high of $34.47. The firm has a 50 day moving average price of $16.18 and a 200-day moving average price of $17.76.

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

Analysts Set New Price Targets

IMVT has been the subject of a number of recent research reports. UBS Group reissued a "neutral" rating and set a $17.00 price objective (down from $38.00) on shares of Immunovant in a report on Tuesday, April 22nd. The Goldman Sachs Group upgraded Immunovant to a "hold" rating and set a $18.00 price target for the company in a report on Thursday, July 10th. Three 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 stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $36.30.

Institutional Trading of Immunovant

Hedge funds and other institutional investors have recently modified their holdings of the business. Strs Ohio bought a new position in shares of Immunovant in the first quarter worth approximately $27,000. FNY Investment Advisers LLC purchased a new stake in Immunovant during the first quarter valued at about $34,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Immunovant during the first quarter valued at about $37,000. Farther Finance Advisors LLC increased its position in shares of Immunovant by 142,750.0% in the second quarter. Farther Finance Advisors LLC now owns 2,857 shares of the company's stock valued at $46,000 after acquiring an additional 2,855 shares during the period. Finally, Headlands Technologies LLC bought a new position in Immunovant in the first quarter worth about $51,000. Institutional investors own 47.08% of the company's stock.

About Immunovant

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.

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