Key Points
- Immunovant insider Tuyl Christopher Van sold 1,206 shares on July 8 at an average price of $39.55, totaling about $47,697. The sale was disclosed in an SEC filing and was made to cover tax withholding obligations tied to equity award vesting.
- Van also sold 17,824 shares on June 26 for about $682,837, suggesting a recent pattern of insider selling. After the latest transaction, he still owned 179,391 shares valued at roughly $7.09 million.
- IMVT shares recently traded near their 52-week high of $41.23, while analysts remain mixed: the stock has an average Hold rating with a consensus price target of $39.70. Immunovant also reported a wider-than-expected quarterly loss, with EPS of -$0.73 versus estimates of -$0.60.
Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) insider Tuyl Christopher Van sold 1,206 shares of the stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $39.55, for a total transaction of $47,697.30. Following the transaction, the insider owned 179,391 shares in the company, valued at approximately $7,094,914.05. The trade was a 0.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Tuyl Christopher Van also recently made the following trade(s):
- On Friday, June 26th, Tuyl Christopher Van sold 17,824 shares of Immunovant stock. The shares were sold at an average price of $38.31, for a total transaction of $682,837.44.
Immunovant Price Performance
IMVT stock traded down $1.38 on Friday, hitting $39.71. 1,095,103 shares of the company were exchanged, compared to its average volume of 1,545,434. Immunovant, Inc. has a twelve month low of $14.32 and a twelve month high of $41.23. The business's fifty day moving average is $33.66 and its two-hundred day moving average is $28.75. The stock has a market capitalization of $8.15 billion, a price-to-earnings ratio of -14.28 and a beta of 0.76.
Immunovant (NASDAQ:IMVT - Get Free Report) last announced its quarterly 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 quarter in the prior year, the business posted ($0.64) EPS. Equities research analysts expect that Immunovant, Inc. will post -2.65 earnings per share for the current year.
Hedge Funds Weigh In On Immunovant
Hedge funds have recently made changes to their positions in the business. Empowered Funds LLC raised its stake in shares of Immunovant by 2.7% in the 1st quarter. Empowered Funds LLC now owns 14,556 shares of the company's stock valued at $362,000 after acquiring an additional 381 shares during the period. Wellington Management Group LLP boosted its position in Immunovant by 2.7% during the 4th quarter. Wellington Management Group LLP now owns 28,847 shares of the company's stock worth $733,000 after purchasing an additional 755 shares during the period. Royal Bank of Canada increased its holdings in Immunovant by 20.7% in the 4th quarter. Royal Bank of Canada now owns 4,549 shares of the company's stock valued at $116,000 after purchasing an additional 780 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Immunovant by 2.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 36,124 shares of the company's stock valued at $578,000 after purchasing an additional 900 shares in the last quarter. Finally, Banque Pictet & Cie SA increased its holdings in Immunovant by 0.9% in the 4th quarter. Banque Pictet & Cie SA now owns 114,881 shares of the company's stock valued at $2,920,000 after purchasing an additional 993 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company's stock.
Analysts Set New Price Targets
A number of research analysts recently weighed in on IMVT shares. HC Wainwright lifted their target price on Immunovant from $35.00 to $40.00 and gave the company a "buy" rating in a report on Thursday, May 21st. Truist Financial upped their price target on Immunovant from $23.00 to $30.00 and gave the stock a "hold" rating in a research note on Friday, May 22nd. Citigroup raised their price objective on Immunovant from $57.00 to $61.00 and gave the stock a "buy" rating in a report on Tuesday, June 30th. Bank of America lifted their price objective on Immunovant from $32.00 to $43.00 and gave the company a "buy" rating in a research note on Thursday, May 21st. Finally, Sanford C. Bernstein started coverage on Immunovant in a report on Friday, March 20th. They set a "market perform" rating and a $28.00 target price for the company. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $39.70.
View Our Latest Analysis on IMVT
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.
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