Key Points
- CFO Tiago Girao sold 25,760 shares on April 23 at an average price of $29.62 for about $763,011, reportedly to cover tax withholding on vested equity, leaving him with 247,596 shares (a 9.42% reduction).
- The stock opened at $28.58 and trades near its 12‑month high of $30.09, with a market capitalization of about $5.82 billion.
- Immunovant reported Q4 EPS of ($0.61), beating estimates, while analysts have an average rating of Hold and a consensus price target of $32.44.
Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) CTO Jay Stout sold 2,754 shares of the business's stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $29.62, for a total transaction of $81,573.48. Following the transaction, the chief technology officer owned 251,685 shares in the company, valued at $7,454,909.70. This represents a 1.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Immunovant Stock Performance
Shares of IMVT stock opened at $28.58 on Friday. Immunovant, Inc. has a 52-week low of $13.36 and a 52-week high of $30.09. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of -10.62 and a beta of 0.67. The firm's 50-day moving average is $25.99 and its 200-day moving average is $24.63.
Immunovant (NASDAQ:IMVT - Get Free Report) last posted its quarterly earnings results on Friday, February 6th. The company reported ($0.61) EPS for the quarter, topping analysts' consensus estimates of ($0.72) by $0.11. During the same period in the prior year, the firm posted ($0.76) EPS. Sell-side analysts predict that Immunovant, Inc. will post -2.67 EPS for the current fiscal year.
Analyst Ratings Changes
Several brokerages have recently commented on IMVT. Truist Financial lifted their target price on 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 increased their price target on Immunovant from $29.00 to $32.00 and gave the company a "neutral" rating in a research note on Wednesday, April 15th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Immunovant in a report on Wednesday, April 8th. Wolfe Research raised shares of Immunovant from a "peer perform" rating to an "outperform" rating and set a $50.00 price objective for the company in a research report on Tuesday, January 6th. Finally, Sanford C. Bernstein initiated coverage on shares of Immunovant in a report on Friday, March 20th. They issued a "market perform" rating and a $28.00 price objective on the stock. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Immunovant has a consensus rating of "Hold" and an average target price of $32.44.
View Our Latest Stock Analysis on Immunovant
Institutional Investors Weigh In On Immunovant
Several hedge funds have recently bought and sold shares of IMVT. Geneos Wealth Management Inc. bought a new stake in shares of Immunovant during the fourth quarter worth approximately $25,000. Strs Ohio bought a new position in shares of Immunovant during the first quarter worth approximately $27,000. Aster Capital Management DIFC Ltd acquired a new stake in Immunovant during the 3rd quarter worth approximately $33,000. PNC Financial Services Group Inc. lifted its holdings in Immunovant by 138.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,831 shares of the company's stock worth $46,000 after purchasing an additional 1,646 shares during the last quarter. Finally, Quarry LP boosted its stake in Immunovant by 94.9% in the 4th quarter. Quarry LP now owns 3,000 shares of the company's stock valued at $76,000 after purchasing an additional 1,461 shares during the period. 47.08% of the stock is currently owned by institutional investors and hedge funds.
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
