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 stock was sold at an average price of $31.18, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Immunovant Trading Down 0.9 %
Immunovant stock opened at $30.88 on Thursday. The firm has a 50-day moving average of $33.88 and a 200-day moving average of $36.35. The firm has a market cap of $4.49 billion, a P/E 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 posted its earnings results on Monday, February 12th. The company reported ($0.36) earnings per share for the quarter, topping analysts' consensus estimates of ($0.43) by $0.07. Research analysts forecast that Immunovant, Inc. will post -1.7 earnings per share for the current fiscal year.
Institutional Trading of Immunovant
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A number of institutional investors have recently modified their holdings of IMVT. Headlands Technologies LLC purchased a new stake in Immunovant in the fourth quarter worth about $27,000. Comerica Bank purchased a new stake in Immunovant in the third quarter worth about $26,000. KBC Group NV purchased a new stake in Immunovant in the fourth quarter worth about $56,000. Assetmark Inc. purchased a new stake in Immunovant in the fourth quarter worth about $61,000. Finally, Barclays PLC lifted its holdings in 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 during the period. 47.08% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts have recently weighed in on the stock. Oppenheimer assumed coverage on shares of Immunovant in a report on Thursday, March 28th. They issued an "outperform" rating and a $50.00 price target on the stock. The Goldman Sachs Group started coverage on shares of Immunovant in a report on Wednesday, March 13th. They issued a "buy" rating and a $50.00 price target on the stock. Bank of America increased their target price on Immunovant from $49.00 to $51.00 and gave the company a "buy" rating in a research note on Thursday, December 21st. Truist Financial reissued a "buy" rating and issued a $48.00 target price on shares of Immunovant in a research note on Monday, March 25th. Finally, JPMorgan Chase & Co. started coverage on Immunovant in a research note on Tuesday, February 20th. They issued an "overweight" rating and a $51.00 target price on the stock. Seventeen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $48.00.
Read Our Latest Stock Report on IMVT
Immunovant Company Profile
(
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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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