Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) CTO Jay S. Stout sold 1,519 shares of the business's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $17.24, for a total value of $26,187.56. Following the sale, the chief technology officer owned 207,724 shares in the company, valued at approximately $3,581,161.76. This trade represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Immunovant Price Performance
Shares of NASDAQ:IMVT traded up $0.46 during trading on Monday, reaching $18.59. 1,337,808 shares of the stock were exchanged, compared to its average volume of 1,218,289. Immunovant, Inc. has a 1-year low of $12.72 and a 1-year high of $34.47. The stock has a fifty day moving average of $15.55 and a two-hundred day moving average of $18.04. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of -6.78 and a beta of 0.63.
Immunovant (NASDAQ:IMVT - Get Free Report) last issued its earnings results on Thursday, May 29th. The company reported ($0.64) earnings per share for the quarter, topping analysts' consensus estimates of ($0.72) by $0.08. The firm had revenue of $0.16 million for the quarter. During the same quarter last year, the firm earned ($0.52) earnings per share. Sell-side analysts forecast that Immunovant, Inc. will post -2.69 EPS for the current year.
Analyst Upgrades and Downgrades
IMVT has been the topic of several analyst reports. Bank of America reduced their target price on Immunovant from $38.00 to $33.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. Guggenheim reiterated a "buy" rating on shares of Immunovant in a report on Thursday, March 20th. UBS Group reiterated a "neutral" rating and issued a $17.00 target price (down from $38.00) on shares of Immunovant in a report on Tuesday, April 22nd. HC Wainwright restated a "buy" rating and set a $51.00 price target on shares of Immunovant in a report on Wednesday, March 19th. Finally, The Goldman Sachs Group upgraded Immunovant to a "hold" rating and set a $18.00 price target on the stock in a report on Thursday. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $36.30.
Check Out Our Latest Stock Report on IMVT
Hedge Funds Weigh In On Immunovant
A number of institutional investors have recently modified their holdings of the company. FMR LLC raised its position in shares of Immunovant by 4.5% during the fourth quarter. FMR LLC now owns 13,097,915 shares of the company's stock worth $324,435,000 after purchasing an additional 560,344 shares during the period. Vanguard Group Inc. raised its position in shares of Immunovant by 3.9% during the first quarter. Vanguard Group Inc. now owns 6,936,859 shares of the company's stock worth $118,551,000 after purchasing an additional 257,445 shares during the period. Deep Track Capital LP raised its position in Immunovant by 38.0% in the 4th quarter. Deep Track Capital LP now owns 6,000,000 shares of the company's stock valued at $148,620,000 after buying an additional 1,652,536 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in Immunovant by 15.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,894,824 shares of the company's stock valued at $100,743,000 after buying an additional 777,590 shares during the last quarter. Finally, Baker BROS. Advisors LP raised its position in Immunovant by 219.6% in the 1st quarter. Baker BROS. Advisors LP now owns 5,457,881 shares of the company's stock valued at $93,275,000 after buying an additional 3,750,000 shares during the last quarter. 47.08% of the stock is owned by institutional investors and hedge funds.
About Immunovant
(
Get Free Report)
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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