Jay Stout Sells 1,585 Shares of Immunovant (NASDAQ:IMVT) Stock

Key Points

• Jay Stout, the Chief Technology Officer of Immunovant, recently sold 1,585 shares of the company's stock at an average price of $16.30, decreasing his ownership by 0.77%.
• Immunovant's shares have recently traded down by 2.6%, reaching a price of $17.03, with a market cap of $2.97 billion.
• The company's EPS for the last quarter was reported at ($0.60), surpassing analysts' expectations, and institutional investors hold 47.08% of the stock.

Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) CTO Jay Stout sold 1,585 shares of the company's stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $16.30, for a total transaction of $25,835.50. Following the completion of the transaction, the chief technology officer owned 203,334 shares in the company, valued at approximately $3,314,344.20. The trade was a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Immunovant Trading Down 2.6%

Shares of NASDAQ IMVT traded down $0.45 during mid-day trading on Friday, reaching $17.03. The company had a trading volume of 2,061,712 shares, compared to its average volume of 1,509,368. The business's 50-day moving average is $15.71 and its 200-day moving average is $15.76. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of -5.98 and a beta of 0.48. Immunovant, Inc. has a 52 week low of $12.72 and a 52 week high of $32.10.

Immunovant (NASDAQ:IMVT - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.60) EPS for the quarter, topping analysts' consensus estimates of ($0.69) by $0.09. During the same quarter in the prior year, the firm earned ($0.60) earnings per share. As a group, equities research analysts forecast that Immunovant, Inc. will post -2.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

IMVT has been the topic of several recent research reports. UBS Group increased their target price on shares of 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 upgraded shares of Immunovant to a "hold" rating and set a $18.00 price target on the stock in a report on Thursday, July 10th. Weiss Ratings restated a "sell (e+)" rating on shares of Immunovant in a report on Saturday, September 27th. Bank of America lowered their price target on shares of Immunovant from $33.00 to $30.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Immunovant from $37.00 to $33.00 and set an "overweight" rating on the stock in a report on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Immunovant has a consensus rating of "Moderate Buy" and an average price target of $30.38.

Hedge Funds Weigh In On Immunovant

A number of institutional investors have recently bought and sold shares of IMVT. Mirae Asset Global Investments Co. Ltd. increased its holdings in Immunovant by 11.4% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,603 shares of the company's stock worth $106,000 after acquiring an additional 675 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Immunovant by 2.6% during the second quarter. The Manufacturers Life Insurance Company now owns 36,124 shares of the company's stock worth $578,000 after buying an additional 900 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Immunovant by 14.9% during the second quarter. Ameritas Investment Partners Inc. now owns 6,976 shares of the company's stock worth $112,000 after buying an additional 904 shares in the last quarter. Strs Ohio purchased a new stake in shares of Immunovant during the first quarter worth $27,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Immunovant by 4.1% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,641 shares of the company's stock worth $683,000 after buying an additional 1,670 shares in the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

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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