Key Points
- Director Atul Pande sold 1,500 Immunovant shares at an average price of $43.27, generating $64,905. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced his ownership by 1.27% to 116,731 shares.
- Immunovant shares opened at $41.20, with a market capitalization of approximately $8.51 billion and a one-year trading range of $14.47 to $45.42. The company recently reported a quarterly loss of $0.75 per share, below the $0.63 consensus estimate.
- Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $44.00; seven analysts rate the stock Buy, three Hold, and one Sell.
Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) Director Atul Pande sold 1,500 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $43.27, for a total value of $64,905.00. Following the completion of the transaction, the director owned 116,731 shares in the company, valued at approximately $5,050,950.37. This represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Atul Pande also recently made the following trade(s):
- On Friday, June 26th, Atul Pande sold 1,500 shares of Immunovant stock. The stock was sold at an average price of $38.01, for a total transaction of $57,015.00.
Immunovant Price Performance
NASDAQ:IMVT opened at $41.20 on Friday. The firm has a 50-day moving average of $40.29 and a 200-day moving average of $32.36. The company has a market cap of $8.51 billion, a PE ratio of -14.61 and a beta of 0.77. Immunovant, Inc. has a one year low of $14.47 and a one year high of $45.42.
Immunovant (NASDAQ:IMVT - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.12). The firm had revenue of $7.09 million during the quarter, compared to analysts' expectations of $7.09 million. During the same period in the previous year, the business posted ($0.71) earnings per share. On average, equities research analysts expect that Immunovant, Inc. will post -2.96 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on IMVT shares. Truist Financial upped their price objective on shares of Immunovant from $23.00 to $30.00 and gave the stock a "hold" rating in a research report on Friday, May 22nd. Citigroup lifted their target price on shares of Immunovant from $57.00 to $61.00 and gave the stock a "buy" rating in a research report on Tuesday, June 30th. Bank of America upped their target price on Immunovant from $32.00 to $43.00 and gave the company a "buy" rating in a report on Thursday, May 21st. HC Wainwright increased their price target on Immunovant from $35.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, May 21st. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Immunovant in a research report on Monday, July 6th. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Immunovant currently has a consensus rating of "Moderate Buy" and an average target price of $44.00.
Check Out Our Latest Stock Report on Immunovant
Hedge Funds Weigh In On Immunovant
Several institutional investors and hedge funds have recently bought and sold shares of IMVT. Deep Track Capital LP grew its stake in shares of 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 acquiring an additional 228,845 shares during the period. Vanguard Group Inc. raised its stake in 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 period. BlackRock Inc. bought a new stake in Immunovant in the 2nd quarter valued at about $276,680,000. Armistice Capital LLC raised its stake in 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 period. Finally, Morgan Stanley lifted its holdings in Immunovant by 147.4% during the fourth quarter. Morgan Stanley now owns 4,846,385 shares of the company's stock valued at $123,195,000 after purchasing an additional 2,887,359 shares during the last quarter. 47.08% of the stock is owned by institutional investors.
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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