Immunovant (NASDAQ:IMVT) Director Robert Graham Susman Sells 2,502 Shares

Key Points

• Director Robert Graham Susman sold 2,502 shares of Immunovant at an average price of $27.17 under a pre-arranged Rule 10b5-1 plan, generating about $67,979 and reducing his stake by 6.43% to 36,394 shares (valued ≈ $988,825).
• IMVT traded at $27.12 (down $0.03) with a 12‑month range of $13.36–$30.09; the company recently beat quarterly EPS estimates and holds a MarketBeat consensus rating of "Hold" with an average price target of $32.44.

Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) Director Robert Graham Susman sold 2,502 shares of the business's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $27.17, for a total transaction of $67,979.34. Following the transaction, the director directly owned 36,394 shares in the company, valued at $988,824.98. This trade represents a 6.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Immunovant Trading Down 0.1%

IMVT stock traded down $0.03 on Friday, reaching $27.12. 929,794 shares of the company were exchanged, compared to its average volume of 1,573,849. Immunovant, Inc. has a 12 month low of $13.36 and a 12 month high of $30.09. The stock's fifty day moving average price is $26.09 and its 200 day moving average price is $24.92.

Immunovant (NASDAQ:IMVT - Get Free Report) last announced its earnings results on Friday, February 6th. The company reported ($0.61) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.72) by $0.11. During the same quarter in the prior year, the business posted ($0.76) EPS. As a group, sell-side analysts predict that Immunovant, Inc. will post -2.67 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Deep Track Capital LP lifted its position in Immunovant by 2.4% during the 3rd quarter. Deep Track Capital LP now owns 9,728,845 shares of the company's stock valued at $156,829,000 after purchasing an additional 228,845 shares during the period. Vanguard Group Inc. lifted its position in Immunovant by 14.0% during the 4th quarter. Vanguard Group Inc. now owns 7,779,314 shares of the company's stock valued at $197,750,000 after purchasing an additional 952,504 shares during the period. Armistice Capital LLC lifted its position in Immunovant by 12.2% during the 3rd quarter. Armistice Capital LLC now owns 5,836,000 shares of the company's stock valued at $94,076,000 after purchasing an additional 636,000 shares during the period. Morgan Stanley lifted its position in Immunovant by 147.4% during the 4th quarter. Morgan Stanley now owns 4,846,385 shares of the company's stock valued at $123,195,000 after purchasing an additional 2,887,359 shares during the period. Finally, State Street Corp lifted its position in Immunovant by 30.9% during the 4th quarter. State Street Corp now owns 3,786,926 shares of the company's stock valued at $96,264,000 after purchasing an additional 894,308 shares during the period. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of Immunovant from $29.00 to $32.00 and gave the company a "neutral" rating in a report on Wednesday, April 15th. Truist Financial boosted their price target on shares of Immunovant from $16.00 to $22.00 and gave the company a "hold" rating in a report on Thursday, January 8th. Weiss Ratings reissued a "sell (d-)" rating on shares of Immunovant in a report on Wednesday, April 8th. Wolfe Research raised shares of Immunovant from a "peer perform" rating to an "outperform" rating and set a $50.00 price target on the stock in a report on Tuesday, January 6th. Finally, Sanford C. Bernstein assumed coverage on shares of Immunovant in a report on Friday, March 20th. They issued a "market perform" rating and a $28.00 price target on the stock. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $32.44.

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.

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