Key Points
- CEO Eric Venker sold 14,229 shares at an average price of $24.10 on April 2, reducing his holdings by about 42% and generating roughly $342,919, as disclosed in an SEC Form 4.
- Clinical setback: Immunovant’s batoclimab failed to meet primary endpoints in Phase 3 TED trials, a result that cuts near‑term revenue expectations and raises execution risk.
- Management is shifting focus toward expanding the oral JAK/TYK2 asset brepocitinib as a strategic response, while the stock trades near $24.50 with a consensus analyst rating of "Hold" and an average target of $32.00.
Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) CEO Eric Venker sold 14,229 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $24.10, for a total value of $342,918.90. Following the sale, the chief executive officer owned 19,561 shares of the company's stock, valued at approximately $471,420.10. This represents a 42.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Immunovant Price Performance
Immunovant stock opened at $24.50 on Friday. Immunovant, Inc. has a 1-year low of $12.72 and a 1-year high of $29.25. The business has a fifty day moving average price of $25.75 and a 200-day moving average price of $23.47. The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of -9.11 and a beta of 0.67.
Immunovant (NASDAQ:IMVT - Get Free Report) last announced its earnings results on Friday, February 6th. The company reported ($0.61) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.11. During the same period last year, the business earned ($0.76) EPS. On average, equities research analysts anticipate that Immunovant, Inc. will post -2.69 earnings per share for the current fiscal year.
More Immunovant News
Here are the key news stories impacting Immunovant this week:
- Positive Sentiment: Management highlights brepocitinib program expansion as a strategic response, signaling a shift of R&D and commercial focus toward the oral JAK/TYK2 asset that could partially offset the batoclimab setback; this gives investors a tangible alternative program to watch for future value creation. Immunovant Discusses Brepocitinib Program Expansion and Batoclimab Phase III Data Update Transcript
- Neutral Sentiment: Company released additional corporate materials/slideshow discussing the pipeline and Phase 3 update; these materials provide management context but don’t replace the clinical outcomes that move valuation. Monitor upcoming investor calls or detailed data disclosures for clarification. Slideshow: Brepocitinib and Batoclimab Phase III Data Update
- Negative Sentiment: Batoclimab failed to meet primary endpoints in Phase 3 TED trials — multiple outlets report the late‑stage miss and its immediate negative market implications; this reduces the expected near‑term revenue runway from that program and increases execution risk. Reuters: Treatment for eye disease fails late‑stage trial
- Negative Sentiment: CEO Eric Venker sold 14,229 shares at an average $24.10 (a ~42% reduction in his holdings), a disclosure that can amplify negative sentiment after the clinical setback; insiders selling after disappointing news may concern some investors. SEC Form 4: Insider Sale
Hedge Funds Weigh In On Immunovant
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Deep Track Capital LP raised its position in Immunovant by 2.4% during the 3rd quarter. Deep Track Capital LP now owns 9,728,845 shares of the company's stock worth $156,829,000 after buying an additional 228,845 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Immunovant by 14.0% in the 4th quarter. Vanguard Group Inc. now owns 7,779,314 shares of the company's stock valued at $197,750,000 after acquiring an additional 952,504 shares during the last quarter. Armistice Capital LLC boosted its holdings in shares of Immunovant by 12.2% in the 3rd quarter. Armistice Capital LLC now owns 5,836,000 shares of the company's stock valued at $94,076,000 after acquiring an additional 636,000 shares during the last quarter. Morgan Stanley increased its stake in shares of Immunovant by 147.4% in the fourth quarter. Morgan Stanley now owns 4,846,385 shares of the company's stock worth $123,195,000 after acquiring an additional 2,887,359 shares during the period. Finally, State Street Corp increased its stake in shares of Immunovant by 30.9% in the fourth quarter. State Street Corp now owns 3,786,926 shares of the company's stock worth $96,264,000 after acquiring an additional 894,308 shares during the period. Institutional investors and hedge funds own 47.08% of the company's stock.
Analyst Ratings Changes
A number of analysts recently commented on IMVT shares. Wolfe Research upgraded shares of Immunovant from a "peer perform" rating to an "outperform" rating and set a $50.00 target price for the company in a research note on Tuesday, January 6th. HC Wainwright reaffirmed a "buy" rating and issued a $35.00 price target on shares of Immunovant in a report on Tuesday, February 10th. Truist Financial lifted their price objective on shares of Immunovant from $16.00 to $22.00 and gave the stock a "hold" rating in a research note on Thursday, January 8th. The Goldman Sachs Group boosted their price objective on shares of Immunovant from $18.00 to $28.00 and gave the company a "neutral" rating in a report on Monday, December 15th. Finally, Sanford C. Bernstein started coverage on Immunovant in a research report on Friday, March 20th. They issued a "market perform" rating and a $28.00 target price on the stock. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $32.00.
View Our Latest Analysis on Immunovant
Immunovant Company Profile
(
Get Free Report)
Immunovant Inc is a clinical-stage biopharmaceutical company focused on the development of novel monoclonal antibody therapies that target the neonatal Fc receptor (FcRn) to treat severe autoimmune diseases. By inhibiting FcRn, Immunovant's approach is designed to reduce levels of pathogenic immunoglobulin G (IgG) antibodies, which play a central role in the pathology of disorders such as myasthenia gravis and immune thrombocytopenia.
The company's lead asset, efgartigimod, is an engineered Fc fragment that selectively binds to FcRn, accelerating the degradation of circulating IgG.
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