Immunovant, Inc. (NASDAQ:IMVT - Get Free Report) Director Atul Pande sold 3,000 shares of the stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $36.00, for a total value of $108,000.00. Following the sale, the director directly owned 116,731 shares of the company's stock, valued at approximately $4,202,316. This trade represents a 2.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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, August 28th, Atul Pande sold 1,500 shares of Immunovant stock. The stock was sold at an average price of $43.27, for a total value of $64,905.00.
Immunovant Price Performance
Shares of NASDAQ IMVT opened at $35.05 on Friday. Immunovant, Inc. has a 1 year low of $21.86 and a 1 year high of $45.42. The company's 50-day moving average is $32.74 and its 200 day moving average is $32.30. The stock has a market capitalization of $7.25 billion, a P/E ratio of -13.69 and a beta of 0.95.
Immunovant (NASDAQ:IMVT - Get Free Report) last issued its quarterly earnings data on Monday, November 9th. The company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.74) by $0.27. During the same quarter in the previous year, the business earned ($0.73) earnings per share. Research analysts anticipate that Immunovant, Inc. will post -2.78 earnings per share for the current year.
Analysts Set New Price Targets
A number of research analysts have recently commented on IMVT shares. Citigroup restated a "positive" rating on shares of Immunovant in a research note on Thursday, September 24th. JPMorgan Chase & Co. raised their price objective on Immunovant from $47.00 to $50.00 and gave the company an "overweight" rating in a research report on Tuesday, August 4th. UBS Group reiterated a "buy" rating on shares of Immunovant in a research note on Wednesday, September 23rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Immunovant in a research note on Friday, October 2nd. Finally, Wells Fargo & Company lifted their price target on shares of Immunovant from $45.00 to $47.00 and gave the company an "overweight" rating in a research report on Tuesday. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $44.60.
Read Our Latest Research Report on IMVT
Institutional Trading of Immunovant
Several hedge funds and other institutional investors have recently made changes to their positions in IMVT. GAMMA Investing LLC boosted its holdings in Immunovant by 63.6% in the third quarter. GAMMA Investing LLC now owns 1,224 shares of the company's stock worth $41,000 after acquiring an additional 476 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Immunovant during the second quarter valued at $87,000. Sterling Capital Management LLC increased its holdings in shares of Immunovant by 856.0% during the third quarter. Sterling Capital Management LLC now owns 2,868 shares of the company's stock valued at $97,000 after acquiring an additional 2,568 shares in the last quarter. Nykredit A S bought a new position in shares of Immunovant during the second quarter valued at $174,000. Finally, State of Wyoming purchased a new position in shares of Immunovant in the 2nd quarter worth about $208,000. Hedge funds and other institutional investors own 47.08% of the company's stock.
About Immunovant
(
Get Free Report)
Immunovant, Inc. is a clinical-stage biopharmaceutical company developing treatments for autoimmune diseases. Its research focuses on inhibiting the neonatal Fc receptor (FcRn), a pathway involved in maintaining levels of disease-causing antibodies. The company's investigational medicines include batoclimab and IMVT-1402, both designed to reduce circulating antibodies. Immunovant has studied or evaluated these candidates for conditions including myasthenia gravis, Graves' disease and other autoimmune disorders.
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