Key Points
- CTO Jay Stout sold 40,000 shares of Immunovant on June 26 at an average price of $38.31, totaling about $1.53 million. After the sale, he still held 211,685 shares, a 15.89% reduction in his ownership.
- Immunovant shares were trading near their 12-month high, opening at $38.85 and rising 1.6% on the day. The stock has a market cap of $7.98 billion and has climbed well above its 50-day and 200-day moving averages.
- Analyst sentiment is mixed but leans cautious, with a consensus rating of “Hold” and a consensus price target of $37.33. The company recently reported a quarterly loss wider than expected, while several analysts adjusted price targets upward.
Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) Director Atul Pande sold 1,500 shares of the business's stock in a transaction on Friday, June 26th. The stock was sold at an average price of $38.01, for a total value of $57,015.00. Following the transaction, the director directly owned 116,731 shares of the company's stock, valued at $4,436,945.31. The trade was a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Atul Pande also recently made the following trade(s):
- On Wednesday, May 20th, Atul Pande sold 6,000 shares of Immunovant stock. The stock was sold at an average price of $32.00, for a total value of $192,000.00.
Immunovant Price Performance
IMVT stock opened at $38.85 on Friday. The business's 50-day moving average is $31.47 and its two-hundred day moving average is $27.77. The firm has a market capitalization of $7.98 billion, a P/E ratio of -13.97 and a beta of 0.76. Immunovant, Inc. has a 1 year low of $14.32 and a 1 year high of $39.28.
Immunovant (NASDAQ:IMVT - Get Free Report) last released its earnings results on Wednesday, May 20th. The company reported ($0.73) earnings per share for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.13). During the same period in the previous year, the firm posted ($0.64) EPS. On average, analysts expect that Immunovant, Inc. will post -2.65 EPS for the current year.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on IMVT. The Goldman Sachs Group raised their price objective on shares of Immunovant from $29.00 to $32.00 and gave the company a "neutral" rating in a report on Wednesday, April 15th. Sanford C. Bernstein initiated coverage on Immunovant in a report on Friday, March 20th. They issued a "market perform" rating and a $28.00 target price on the stock. Citigroup restated a "buy" rating on shares of Immunovant in a research note on Thursday, May 21st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Immunovant in a report on Wednesday, April 8th. Finally, HC Wainwright upped their price objective on Immunovant from $35.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, May 21st. 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 company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $37.33.
Check Out Our Latest Analysis on Immunovant
Hedge Funds Weigh In On Immunovant
Large investors have recently bought and sold shares of the stock. Empowered Funds LLC grew its holdings in shares of Immunovant by 2.7% during the first quarter. Empowered Funds LLC now owns 14,556 shares of the company's stock worth $362,000 after purchasing an additional 381 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Immunovant by 2.7% in the 4th quarter. Wellington Management Group LLP now owns 28,847 shares of the company's stock valued at $733,000 after purchasing an additional 755 shares during the period. Royal Bank of Canada grew its stake in Immunovant by 20.7% during the 4th quarter. Royal Bank of Canada now owns 4,549 shares of the company's stock worth $116,000 after buying an additional 780 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Immunovant by 2.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 36,124 shares of the company's stock worth $578,000 after buying an additional 900 shares during the last quarter. Finally, Banque Pictet & Cie SA increased its position in Immunovant by 0.9% during the fourth quarter. Banque Pictet & Cie SA now owns 114,881 shares of the company's stock worth $2,920,000 after buying an additional 993 shares during the period. Institutional investors and hedge funds own 47.08% of the company's stock.
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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