Immunovant (NASDAQ:IMVT) Insider Michael Geffner Sells 2,595 Shares of Stock

Immunovant, Inc. (NASDAQ:IMVT) insider Michael Geffner sold 2,595 shares of the business’s stock in a transaction that occurred on Wednesday, October 22nd. The stock was sold at an average price of $19.03, for a total transaction of $49,382.85. Following the completion of the sale, the insider owned 217,958 shares in the company, valued at $4,147,740.74. The trade was a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, October 8th, Michael Geffner sold 1,272 shares of Immunovant stock. The stock was sold at an average price of $16.30, for a total value of $20,733.60.

Immunovant Stock Up 1.1%

Shares of Immunovant stock opened at $18.94 on Friday. Immunovant, Inc. has a 12-month low of $12.72 and a 12-month high of $32.10. The firm has a market capitalization of $3.30 billion, a PE ratio of -6.65 and a beta of 0.48. The stock’s fifty day moving average is $16.27 and its 200-day moving average is $15.90.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.09. During the same period last year, the business posted ($0.60) earnings per share. Analysts expect that Immunovant, Inc. will post -2.69 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. HC Wainwright reissued a “buy” rating and issued a $35.00 target price on shares of Immunovant in a research report on Thursday, September 4th. JPMorgan Chase & Co. lowered their price objective on shares of Immunovant from $37.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 30th. Bank of America cut their target price on shares of Immunovant from $33.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, August 12th. Truist Financial began coverage on Immunovant in a research report on Tuesday, October 14th. They issued a “hold” rating and a $16.00 target price for the company. Finally, The Goldman Sachs Group raised Immunovant to a “hold” rating and set a $18.00 price target on the stock in a research report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Immunovant currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.78.

Hedge Funds Weigh In On Immunovant

A number of hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in Immunovant by 21.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,928 shares of the company’s stock valued at $109,000 after purchasing an additional 1,037 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Immunovant by 19.2% during the 1st quarter. Teacher Retirement System of Texas now owns 18,122 shares of the company’s stock valued at $310,000 after buying an additional 2,919 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Immunovant by 9.5% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 34,071 shares of the company’s stock valued at $582,000 after buying an additional 2,947 shares in the last quarter. Banque Pictet & Cie SA increased its holdings in Immunovant by 1.3% in the first quarter. Banque Pictet & Cie SA now owns 147,397 shares of the company’s stock worth $2,519,000 after buying an additional 1,917 shares during the last quarter. Finally, Arizona State Retirement System raised its position in Immunovant by 31.1% during the first quarter. Arizona State Retirement System now owns 19,468 shares of the company’s stock valued at $333,000 after acquiring an additional 4,614 shares in the last quarter. 47.08% of the stock is owned by institutional investors and hedge funds.

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.