Key Points
- Director Robert Graham Susman sold 2,502 shares at an average price of $27.17 on May 1 for $67,979.34, trimming his stake by 6.43% to 36,394 shares; the sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Stock and analyst snapshot: IMVT traded near $27.12 (50‑day SMA $26.09; 200‑day SMA $24.92) with a $5.52B market cap, reported EPS of -$0.61 last quarter (beating estimates), and carries an average analyst rating of "Hold" with a $32.44 price target.
Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) Director Robert Graham Susman sold 2,502 shares of the company's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $27.17, for a total value of $67,979.34. Following the sale, the director owned 36,394 shares of the company's stock, valued at $988,824.98. This trade represents a 6.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Immunovant Trading Down 0.1%
Shares of Immunovant stock opened at $27.12 on Friday. The stock has a fifty day simple moving average of $26.09 and a 200 day simple moving average of $24.92. Immunovant, Inc. has a 12-month low of $13.36 and a 12-month high of $30.09. The company has a market capitalization of $5.52 billion, a P/E ratio of -10.08 and a beta of 0.70.
Immunovant (NASDAQ:IMVT - Get Free Report) last announced its quarterly earnings results on Friday, February 6th. The company reported ($0.61) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.11. During the same period in the prior year, the company posted ($0.76) EPS. On average, analysts predict that Immunovant, Inc. will post -2.67 EPS for the current year.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the company. HC Wainwright restated a "buy" rating and issued a $35.00 price objective on shares of Immunovant in a research note on Tuesday, February 10th. Weiss Ratings restated a "sell (d-)" rating on shares of Immunovant in a research note on Wednesday, April 8th. Truist Financial upped their price objective on Immunovant from $16.00 to $22.00 and gave the company a "hold" rating in a research note on Thursday, January 8th. Sanford C. Bernstein assumed coverage on Immunovant in a research note on Friday, March 20th. They issued a "market perform" rating and a $28.00 price objective for the company. Finally, Guggenheim upped their price objective on Immunovant from $41.00 to $44.00 and gave the company a "buy" rating in a research note on Monday, February 9th. Six 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 stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $32.44.
Get Our Latest Stock Report on Immunovant
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. bought a new position in shares of Immunovant during the 4th quarter worth $25,000. Strs Ohio bought a new position in shares of Immunovant during the 1st quarter worth $27,000. Aster Capital Management DIFC Ltd bought a new position in shares of Immunovant during the 3rd quarter worth $33,000. PNC Financial Services Group Inc. grew its stake in shares of 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 acquiring an additional 1,646 shares during the period. Finally, Quarry LP grew its stake in shares of Immunovant by 94.9% during the 4th quarter. Quarry LP now owns 3,000 shares of the company's stock worth $76,000 after acquiring an additional 1,461 shares during the period. Institutional investors own 47.08% of the company's stock.
About Immunovant
(
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.
Further Reading
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