Immunovant, Inc. (NASDAQ:IMVT) Insider Michael Geffner Sells 2,385 Shares of Stock

Immunovant, Inc. (NASDAQ:IMVT) insider Michael Geffner sold 2,385 shares of the company’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $18.15, for a total value of $43,287.75. Following the completion of the transaction, the insider directly owned 221,825 shares in the company, valued at approximately $4,026,123.75. The trade was a 1.06% 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.

Michael Geffner also recently made the following trade(s):

• On Wednesday, July 9th, Michael Geffner sold 1,160 shares of Immunovant stock. The stock was sold at an average price of $17.24, for a total transaction of $19,998.40.

Immunovant Price Performance

Shares of NASDAQ:IMVT opened at $16.95 on Friday. The stock has a market capitalization of $2.90 billion, a P/E ratio of -6.19 and a beta of 0.63. The business has a 50-day moving average of $16.23 and a two-hundred day moving average of $17.70. Immunovant, Inc. has a fifty-two week low of $12.72 and a fifty-two week high of $34.47.

Immunovant (NASDAQ:IMVT) last announced its earnings results on Thursday, May 29th. The company reported ($0.64) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.08. The firm had revenue of $0.16 million during the quarter. During the same quarter in the previous year, the business earned ($0.52) EPS. As a group, research analysts expect that Immunovant, Inc. will post -2.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Immunovant

Several large investors have recently added to or reduced their stakes in the company. Strs Ohio acquired a new position in shares of Immunovant in the 1st quarter worth approximately $27,000. FNY Investment Advisers LLC bought a new stake in Immunovant in the first quarter valued at $34,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Immunovant during the first quarter worth $37,000. Farther Finance Advisors LLC lifted its holdings in shares of Immunovant by 142,750.0% during the second quarter. Farther Finance Advisors LLC now owns 2,857 shares of the company’s stock valued at $46,000 after acquiring an additional 2,855 shares during the period. Finally, Headlands Technologies LLC bought a new position in shares of Immunovant during the first quarter valued at $51,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. The Goldman Sachs Group upgraded Immunovant to a “hold” rating and set a $18.00 price objective on the stock in a research note on Thursday, July 10th. UBS Group restated a “neutral” rating and issued a $17.00 price target (down from $38.00) on shares of Immunovant in a research report on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Immunovant has a consensus rating of “Moderate Buy” and an average target price of $36.30.

Immunovant Company Profile

Immunovant, Inc, a clinical-stage biopharmaceutical company, develops monoclonal antibodies for the treatment of autoimmune diseases. It develops batoclimab, a novel fully human monoclonal antibody that target the neonatal fragment crystallizable receptor for the treatment of myasthenia gravis, thyroid eye disease, chronic inflammatory demyelinating polyneuropathy, and Graves diseases, as well as warm autoimmune hemolytic anemia.