Julia G. Butchko Sells 1,053 Shares of Immunovant, Inc. (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) insider Julia G. Butchko sold 1,053 shares of the company's stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $31.18, for a total value of $32,832.54. Following the completion of the transaction, the insider now directly owns 461,742 shares in the company, valued at approximately $14,397,115.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Immunovant Price Performance

Shares of NASDAQ IMVT traded down $0.29 during trading on Wednesday, hitting $30.88. 760,227 shares of the company were exchanged, compared to its average volume of 1,235,150. The firm's fifty day moving average price is $34.00 and its 200 day moving average price is $36.39. The company has a market cap of $4.49 billion, a price-to-earnings ratio of -16.78 and a beta of 0.65. Immunovant, Inc. has a 1 year low of $14.11 and a 1 year high of $45.58.

Immunovant (NASDAQ:IMVT - Get Free Report) last issued its quarterly earnings data on Monday, February 12th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.07. On average, research analysts forecast that Immunovant, Inc. will post -1.7 earnings per share for the current year.

Hedge Funds Weigh In On Immunovant

A number of hedge funds have recently made changes to their positions in IMVT. Swiss National Bank raised its position in Immunovant by 7.2% in the first quarter. Swiss National Bank now owns 95,100 shares of the company's stock valued at $524,000 after purchasing an additional 6,400 shares during the period. JPMorgan Chase & Co. grew its position in Immunovant by 205.6% in the first quarter. JPMorgan Chase & Co. now owns 461,582 shares of the company's stock valued at $2,543,000 after acquiring an additional 310,520 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Immunovant by 423.9% during the first quarter. MetLife Investment Management LLC now owns 25,184 shares of the company's stock worth $139,000 after purchasing an additional 20,377 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Immunovant by 0.9% in the first quarter. BlackRock Inc. now owns 3,353,866 shares of the company's stock valued at $18,479,000 after purchasing an additional 28,865 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Immunovant by 148.6% in the first quarter. Dimensional Fund Advisors LP now owns 690,965 shares of the company's stock valued at $3,807,000 after purchasing an additional 412,997 shares during the period. Institutional investors and hedge funds own 47.08% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on IMVT. Deutsche Bank Aktiengesellschaft assumed coverage on Immunovant in a research note on Tuesday, December 12th. They issued a "buy" rating and a $50.00 price objective for the company. JPMorgan Chase & Co. started coverage on shares of Immunovant in a research note on Tuesday, February 20th. They set an "overweight" rating and a $51.00 price target on the stock. Cantor Fitzgerald reissued an "overweight" rating on shares of Immunovant in a research note on Friday, January 12th. Wolfe Research initiated coverage on shares of Immunovant in a report on Thursday, February 15th. They set an "outperform" rating and a $55.00 target price on the stock. Finally, Bank of America boosted their price target on shares of Immunovant from $49.00 to $51.00 and gave the stock a "buy" rating in a research note on Thursday, December 21st. Seventeen research analysts have rated the stock with a buy rating, According to MarketBeat, Immunovant has a consensus rating of "Buy" and a consensus price target of $48.00.

Immunovant Company Profile

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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