Tiago Girao Sells 10,000 Shares of Immunovant (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) CFO Tiago Girao sold 10,000 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $38.46, for a total value of $384,600.00. Following the completion of the transaction, the chief financial officer owned 247,596 shares in the company, valued at approximately $9,522,542.16. The trade was a 3.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Tiago Girao also recently made the following trade(s):

• On Thursday, April 23rd, Tiago Girao sold 25,760 shares of Immunovant stock. The shares were sold at an average price of $29.62, for a total value of $763,011.20.

Immunovant Price Performance

Shares of NASDAQ:IMVT traded up $0.61 during trading on Friday, reaching $38.85. 3,718,031 shares of the stock were exchanged, compared to its average volume of 1,598,367. Immunovant, Inc. has a 1-year low of $14.32 and a 1-year high of $39.28. The stock has a fifty day moving average of $31.24 and a two-hundred day moving average of $27.69. The firm has a market cap of $7.98 billion, a price-to-earnings ratio of -13.97 and a beta of 0.76.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings results on Wednesday, May 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.13). During the same quarter last year, the business earned ($0.64) EPS. Sell-side analysts forecast that Immunovant, Inc. will post -2.65 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IMVT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immunovant in a report on Wednesday, April 8th. Citigroup restated a “buy” rating on shares of Immunovant in a report on Thursday, May 21st. The Goldman Sachs Group lifted their price target on Immunovant from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, April 15th. HC Wainwright boosted their price objective on Immunovant from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Finally, Sanford C. Bernstein started coverage on Immunovant in a research note on Friday, March 20th. They issued a “market perform” rating and a $28.00 price objective for the company. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Immunovant has an average rating of “Hold” and an average target price of $37.33.

Institutional Trading of Immunovant

A number of hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Immunovant by 8.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,971 shares of the company’s stock worth $708,000 after acquiring an additional 3,348 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Immunovant by 48.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,007,700 shares of the company’s stock valued at $17,222,000 after purchasing an additional 329,354 shares during the last quarter. Strs Ohio purchased a new stake in shares of Immunovant during the 1st quarter valued at $27,000. Legal & General Group Plc raised its stake in shares of Immunovant by 6.9% during the 2nd quarter. Legal & General Group Plc now owns 77,296 shares of the company’s stock worth $1,237,000 after purchasing an additional 5,010 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Immunovant by 20.7% during the 2nd quarter. Invesco Ltd. now owns 66,750 shares of the company’s stock worth $1,068,000 after purchasing an additional 11,438 shares during the period. 47.08% of the stock is currently owned by institutional investors.

Immunovant Company Profile

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.