Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann Sells 5,105 Shares

Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) CEO Peter Salzmann sold 5,105 shares of the firm's stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $24.10, for a total value of $123,030.50. Following the sale, the chief executive officer now directly owns 972,992 shares of the company's stock, valued at $23,449,107.20. This represents a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Peter Salzmann also recently made the following trade(s):

• On Wednesday, November 20th, Peter Salzmann sold 16,692 shares of Immunovant stock. The stock was sold at an average price of $25.45, for a total value of $424,811.40.
• On Wednesday, November 20th, Peter Salzmann sold 16,692 shares of Immunovant stock. The stock was sold at an average price of $25.45, for a total value of $424,811.40.
• On Wednesday, October 16th, Peter Salzmann sold 9,095 shares of Immunovant stock. The shares were sold at an average price of $28.79, for a total value of $261,845.05.

Immunovant Price Performance

IMVT stock traded down $0.15 during mid-day trading on Friday, reaching $23.48. 832,137 shares of the company's stock were exchanged, compared to its average volume of 685,890. The company has a market cap of $3.45 billion, a price-to-earnings ratio of -10.58 and a beta of 0.66. The stock's 50 day moving average is $27.07 and its 200 day moving average is $28.58. Immunovant, Inc. has a 12-month low of $23.08 and a 12-month high of $43.92.

Immunovant (NASDAQ:IMVT - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported ($0.74) EPS for the quarter, missing analysts' consensus estimates of ($0.59) by ($0.15). During the same quarter last year, the business earned ($0.45) earnings per share. On average, research analysts forecast that Immunovant, Inc. will post -2.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Wolfe Research lowered Immunovant from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Oppenheimer boosted their price target on Immunovant from $47.00 to $53.00 and gave the company an "outperform" rating in a research note on Wednesday, October 9th. Raymond James reiterated an "outperform" rating and set a $36.00 price target on shares of Immunovant in a research note on Thursday, October 10th. HC Wainwright reiterated a "buy" rating and set a $51.00 price target on shares of Immunovant in a research note on Friday, November 8th. Finally, Wells Fargo & Company dropped their price target on Immunovant from $47.00 to $45.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $47.22.

Institutional Investors Weigh In On Immunovant

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its position in shares of Immunovant by 69.9% during the third quarter. Principal Financial Group Inc. now owns 951,124 shares of the company's stock worth $27,117,000 after buying an additional 391,436 shares during the period. Tyro Capital Management LLC boosted its holdings in Immunovant by 0.6% in the third quarter. Tyro Capital Management LLC now owns 252,149 shares of the company's stock valued at $7,189,000 after purchasing an additional 1,529 shares during the period. Geode Capital Management LLC boosted its holdings in Immunovant by 6.9% in the third quarter. Geode Capital Management LLC now owns 1,510,926 shares of the company's stock valued at $43,085,000 after purchasing an additional 96,924 shares during the period. State Street Corp boosted its holdings in Immunovant by 11.2% in the third quarter. State Street Corp now owns 3,022,342 shares of the company's stock valued at $86,167,000 after purchasing an additional 303,386 shares during the period. Finally, Baker BROS. Advisors LP boosted its holdings in Immunovant by 163.7% in the third quarter. Baker BROS. Advisors LP now owns 1,225,410 shares of the company's stock valued at $34,936,000 after purchasing an additional 760,692 shares during the period. Institutional investors and hedge funds own 47.08% of the company's stock.

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.