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

Immunovant, Inc. (NASDAQ:IMVT) insider Julia G. Butchko sold 1,053 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $14,397,115.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Immunovant Stock Performance

IMVT opened at $30.88 on Thursday. Immunovant, Inc. has a 52-week low of $14.11 and a 52-week high of $45.58. The firm has a market capitalization of $4.49 billion, a PE ratio of -16.78 and a beta of 0.65. The business’s 50-day simple moving average is $33.88 and its 200 day simple moving average is $36.35.

Immunovant (NASDAQ:IMVT) last released its earnings results 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.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. HC Wainwright boosted their target price on Immunovant from $47.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, December 21st. Wolfe Research started coverage on Immunovant in a report on Thursday, February 15th. They issued an “outperform” rating and a $55.00 price target on the stock. Bank of America boosted their price target on Immunovant from $49.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, December 21st. Truist Financial restated a “buy” rating and issued a $48.00 price target on shares of Immunovant in a report on Monday, March 25th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Immunovant in a report on Friday, January 12th. Seventeen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $48.00.

Hedge Funds Weigh In On Immunovant

A number of institutional investors have recently bought and sold shares of IMVT. Swiss National Bank increased its position in Immunovant by 7.2% during the first quarter. Swiss National Bank now owns 95,100 shares of the company’s stock worth $524,000 after buying an additional 6,400 shares during the last quarter. JPMorgan Chase & Co. increased its position in Immunovant by 205.6% during the first quarter. JPMorgan Chase & Co. now owns 461,582 shares of the company’s stock worth $2,543,000 after buying an additional 310,520 shares during the last quarter. MetLife Investment Management LLC increased its position in 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 buying an additional 20,377 shares during the last quarter. BlackRock Inc. increased its position in Immunovant by 0.9% during the first quarter. BlackRock Inc. now owns 3,353,866 shares of the company’s stock worth $18,479,000 after buying an additional 28,865 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Immunovant by 148.6% during the first quarter. Dimensional Fund Advisors LP now owns 690,965 shares of the company’s stock worth $3,807,000 after buying an additional 412,997 shares during the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

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.