Immunovant, Inc. (NASDAQ:IMVT) CTO Jay S. Stout Sells 7,239 Shares

Immunovant, Inc. (NASDAQ:IMVT) CTO Jay S. Stout sold 7,239 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $28.90, for a total value of $209,207.10. Following the sale, the chief technology officer now owns 147,739 shares in the company, valued at $4,269,657.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Immunovant Stock Performance

Shares of Immunovant stock opened at $27.17 on Friday. The stock’s 50-day simple moving average is $32.10 and its 200-day simple moving average is $35.79. Immunovant, Inc. has a 52 week low of $15.90 and a 52 week high of $45.58.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings data on Monday, February 12th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.07. Research analysts predict that Immunovant, Inc. will post -1.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on IMVT shares. Oppenheimer started coverage on Immunovant in a report on Thursday, March 28th. They issued an “outperform” rating and a $50.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunovant in a research report on Friday, January 12th. JPMorgan Chase & Co. assumed coverage on Immunovant in a research report on Tuesday, February 20th. They issued an “overweight” rating and a $51.00 target price for the company. Wolfe Research assumed coverage on Immunovant in a research note on Thursday, February 15th. They set an “outperform” rating and a $55.00 price objective for the company. Finally, The Goldman Sachs Group started coverage on Immunovant in a research note on Wednesday, March 13th. They set a “buy” rating and a $50.00 price objective for the company. Seventeen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $48.00.

Hedge Funds Weigh In On Immunovant

Large investors have recently made changes to their positions in the business. Headlands Technologies LLC purchased a new position in shares of Immunovant in the fourth quarter valued at about $27,000. Assetmark Inc. purchased a new stake in shares of Immunovant in the fourth quarter worth about $61,000. Barclays PLC lifted its position in shares of Immunovant by 2,558.1% in the second quarter. Barclays PLC now owns 2,286 shares of the company’s stock worth $43,000 after buying an additional 2,200 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Immunovant by 96.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 3,360 shares of the company’s stock worth $129,000 after buying an additional 1,651 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Immunovant in the fourth quarter worth about $212,000. 47.08% of the stock is currently 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.