Key Points
- CFO Tiago Girão sold 6,606 Immunovant shares at an average price of $28.50, generating $188,271; the sale covered tax-withholding obligations tied to vested equity awards. He retained 234,192 shares, worth approximately $6.67 million.
- Immunovant shares opened at $29.17, compared with a 52-week range of $21.43 to $45.42. The company recently reported a quarterly loss of $0.75 per share, missing analyst expectations of a $0.63 loss.
- Analyst sentiment remains a “Moderate Buy”, with eight Buy, three Hold and one Sell rating and an average price target of $44.00; institutional investors own 47.08% of the stock.
Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) CFO Tiago Girão sold 6,606 shares of Immunovant stock in a transaction that occurred on Wednesday, October 28th. The shares were sold at an average price of $28.50, for a total transaction of $188,271.00. Following the completion of the transaction, the chief financial officer directly owned 234,192 shares in the company, valued at $6,674,472. This trade represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Immunovant Stock Performance
Shares of IMVT opened at $29.17 on Friday. Immunovant, Inc. has a one year low of $21.43 and a one year high of $45.42. The firm has a 50 day simple moving average of $34.56 and a two-hundred day simple moving average of $32.04.
Immunovant (NASDAQ:IMVT - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.75) earnings per share for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.12). The business had revenue of $7.09 million during the quarter, compared to analysts' expectations of $7.09 million. During the same quarter in the previous year, the company posted ($0.71) earnings per share. On average, analysts expect that Immunovant, Inc. will post -2.96 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in IMVT. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Immunovant during the 3rd quarter worth approximately $357,000. China Universal Asset Management Co. Ltd. grew its holdings in Immunovant by 11.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 37,888 shares of the company's stock worth $1,268,000 after acquiring an additional 3,963 shares during the last quarter. Sterling Capital Management LLC grew its holdings in Immunovant by 856.0% during the 3rd quarter. Sterling Capital Management LLC now owns 2,868 shares of the company's stock worth $97,000 after acquiring an additional 2,568 shares during the last quarter. Inspire Investing LLC acquired a new position in Immunovant in the 3rd quarter valued at approximately $413,000. Finally, GAMMA Investing LLC increased its position in Immunovant by 63.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,224 shares of the company's stock valued at $41,000 after acquiring an additional 476 shares during the period. Institutional investors and hedge funds own 47.08% of the company's stock.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the stock. HC Wainwright reaffirmed a "buy" rating on shares of Immunovant in a report on Thursday, September 24th. UBS Group reissued a "buy" rating on shares of Immunovant in a research note on Wednesday, September 23rd. Sanford C. Bernstein upgraded shares of Immunovant to a "hold" rating in a research report on Wednesday, July 29th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Immunovant in a report on Friday, October 2nd. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Immunovant in a report on Tuesday, August 25th. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $44.00.
Get Our Latest Report on IMVT
Immunovant Company Profile
(
Get Free Report)
Immunovant, Inc (NASDAQ: IMVT) is a clinical-stage biopharmaceutical company developing medicines for autoimmune diseases. The company focuses on conditions in which disease-causing immunoglobulin G (IgG) antibodies contribute to tissue damage and other symptoms.
Immunovant's lead product candidate is batoclimab, also known as IMVT-1401, a fully human monoclonal antibody designed to inhibit the neonatal Fc receptor (FcRn). By reducing the circulation of pathogenic IgG antibodies, batoclimab is being evaluated as a potential treatment for autoimmune disorders, including generalized myasthenia gravis, thyroid eye disease and chronic inflammatory demyelinating polyneuropathy.
Further Reading
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