Immunovant (NASDAQ:IMVT) Insider Michael Geffner Sells 1,272 Shares

Key Points

• Insider Michael Geffner sold 1,272 shares of Immunovant at an average price of $16.30, totaling $20,733.60, resulting in a 0.57% decrease in ownership.
• Immunovant shares are currently trading down 2.6% at $17.03 with a market cap of $2.97 billion.
• Institutional investors hold 47.08% of Immunovant's stock, and recent modifications from various firms indicate increased interest in the company.

Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) insider Michael Geffner sold 1,272 shares of Immunovant stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $16.30, for a total value of $20,733.60. Following the completion of the transaction, the insider directly owned 220,553 shares of the company's stock, valued at $3,595,013.90. This represents a 0.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, July 23rd, Michael Geffner sold 2,385 shares of Immunovant stock. The shares were sold at an average price of $18.15, for a total value of $43,287.75.

Immunovant Trading Down 2.6%

NASDAQ IMVT traded down $0.45 during midday trading on Friday, hitting $17.03. The company had a trading volume of 2,061,712 shares, compared to its average volume of 1,509,368. The company has a market capitalization of $2.97 billion, a PE ratio of -5.98 and a beta of 0.48. The firm has a 50-day moving average price of $15.71 and a 200-day moving average price of $15.76. Immunovant, Inc. has a twelve month low of $12.72 and a twelve month high of $32.10.

Immunovant (NASDAQ:IMVT - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.09. During the same period in the prior year, the company earned ($0.60) EPS. On average, equities analysts anticipate that Immunovant, Inc. will post -2.69 EPS for the current year.

Institutional Trading of Immunovant

Institutional investors and hedge funds have recently modified their holdings of the business. Strs Ohio purchased a new stake in shares of Immunovant during the first quarter valued at approximately $27,000. FNY Investment Advisers LLC purchased a new stake in shares of Immunovant during the first quarter valued at approximately $34,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Immunovant during the first quarter valued at approximately $37,000. Farther Finance Advisors LLC increased its position in shares of Immunovant by 142,750.0% during 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 last quarter. Finally, Headlands Technologies LLC purchased a new stake in Immunovant in the first quarter worth $51,000. 47.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IMVT. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Immunovant in a report on Saturday, September 27th. UBS Group upped their target price on Immunovant from $17.00 to $18.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. The Goldman Sachs Group raised Immunovant to a "hold" rating and set a $18.00 target price for the company in a report on Thursday, July 10th. JPMorgan Chase & Co. reduced their price target on Immunovant from $37.00 to $33.00 and set an "overweight" rating on the stock in a research report on Tuesday, September 30th. Finally, Citigroup reiterated a "buy" rating on shares of Immunovant in a research report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Immunovant currently has an average rating of "Moderate Buy" and an average target price of $30.38.

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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