Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) CFO Eva Renee Barnett sold 4,105 shares of the company's stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $24.10, for a total value of $98,930.50. Following the completion of the transaction, the chief financial officer now directly owns 327,064 shares of the company's stock, valued at approximately $7,882,242.40. This trade represents a 1.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Eva Renee Barnett also recently made the following trade(s):
IMVT traded down $0.15 during trading on Friday, hitting $23.48. The company's stock had a trading volume of 832,137 shares, compared to its average volume of 630,140. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of -10.58 and a beta of 0.66. The firm's 50 day moving average price is $27.19 and its two-hundred day moving average price is $28.61. 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) earnings per share for the quarter, missing analysts' consensus estimates of ($0.59) by ($0.15). During the same quarter in the prior year, the business posted ($0.45) earnings per share. On average, sell-side analysts forecast that Immunovant, Inc. will post -2.73 earnings per share for the current year.
Several analysts have recently weighed in on IMVT shares. Oppenheimer lifted their target price on shares of Immunovant from $47.00 to $53.00 and gave the company an "outperform" rating in a research report on Wednesday, October 9th. Wells Fargo & Company decreased their price objective on Immunovant from $47.00 to $45.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. Wolfe Research cut Immunovant from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. HC Wainwright restated a "buy" rating and set a $51.00 target price on shares of Immunovant in a research report on Friday, November 8th. Finally, Raymond James reiterated an "outperform" rating and issued a $36.00 price target on shares of Immunovant in a research report on Thursday, October 10th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Immunovant currently has an average rating of "Moderate Buy" and a consensus target price of $47.22.
Check Out Our Latest Stock Report on Immunovant
A number of institutional investors have recently modified their holdings of IMVT. FMR LLC increased its holdings in shares of Immunovant by 19.6% in the third quarter. FMR LLC now owns 12,537,571 shares of the company's stock valued at $357,446,000 after purchasing an additional 2,053,688 shares in the last quarter. Armistice Capital LLC boosted its position in Immunovant by 57.0% in the 2nd quarter. Armistice Capital LLC now owns 3,396,909 shares of the company's stock valued at $89,678,000 after buying an additional 1,232,909 shares during the last quarter. Baker BROS. Advisors LP increased its stake in shares of Immunovant by 163.7% in the 3rd quarter. Baker BROS. Advisors LP now owns 1,225,410 shares of the company's stock valued at $34,936,000 after buying an additional 760,692 shares during the period. Principal Financial Group Inc. raised 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 acquiring an additional 391,436 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Immunovant by 11.2% during the third quarter. State Street Corp now owns 3,022,342 shares of the company's stock valued at $86,167,000 after acquiring an additional 303,386 shares during the period. 47.08% of the stock is owned by institutional investors.
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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