Immunovant (NASDAQ:IMVT) Insider Tuyl Christopher Van Sells 1,327 Shares of Company Stock

Immunovant, Inc. (NASDAQ:IMVT) insider Christopher Van Tuyl sold 1,327 shares of the business’s stock in a transaction dated Wednesday, October 7th. The shares were sold at an average price of $32.06, for a total value of $42,543.62. Following the sale, the insider owned 175,218 shares in the company, valued at approximately $5,617,489.08. The trade was a 0.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Tuyl Christopher Van also recently made the following trade(s):

• On Wednesday, September 23rd, Christopher Van Tuyl sold 2,846 shares of Immunovant stock. The stock was sold at an average price of $36.36, for a total value of $103,480.56.

Immunovant Stock Up 0.7%

Immunovant stock opened at $30.47 on Friday. Immunovant, Inc. has a 52 week low of $16.59 and a 52 week high of $45.42. The company has a market capitalization of $6.29 billion, a price-to-earnings ratio of -10.80 and a beta of 0.84. The stock has a 50-day moving average price of $38.41 and a 200 day moving average price of $34.44.

Immunovant (NASDAQ:IMVT) last issued its earnings results on Thursday, August 6th. The company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.12). The company had revenue of $7.09 million during the quarter, compared to analysts’ expectations of $7.09 million. During the same quarter in the prior year, the company posted ($0.71) EPS. Research analysts anticipate that Immunovant, Inc. will post -2.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Immunovant

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IMVT. The Manufacturers Life Insurance Company acquired a new stake in shares of Immunovant in the second quarter valued at about $1,871,000. Renaissance Technologies LLC acquired a new position in shares of Immunovant during the 1st quarter worth about $4,782,000. GSA Capital Partners LLP purchased a new position in Immunovant in the 2nd quarter valued at about $2,515,000. Man Group plc purchased a new position in Immunovant in the 2nd quarter valued at about $5,399,000. Finally, Squarepoint Ops LLC purchased a new position in Immunovant in the 2nd quarter valued at about $2,996,000. 47.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on IMVT. Sanford C. Bernstein upgraded shares of Immunovant to a “hold” rating in a research note on Wednesday, July 29th. UBS Group reaffirmed a “buy” rating on shares of Immunovant in a report on Wednesday, September 23rd. Citigroup reaffirmed a “positive” rating on shares of Immunovant in a research report on Thursday, September 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immunovant in a research note on Friday, October 2nd. Finally, HC Wainwright restated a “buy” rating on shares of Immunovant in a research note on Thursday, September 24th. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Immunovant has an average rating of “Moderate Buy” and a consensus target price of $44.00.

Immunovant Company Profile

Immunovant, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for autoimmune diseases. The company’s approach centers on targeting the neonatal Fc receptor (FcRn), a protein involved in the recycling of immunoglobulin G antibodies that can contribute to autoimmune activity.

Immunovant’s lead product candidate is batoclimab (IMVT-1401), a fully human monoclonal antibody designed to reduce circulating disease-causing antibodies. The company has evaluated batoclimab in several autoimmune conditions, including generalized myasthenia gravis and Graves’ disease, and has also pursued development in other antibody-mediated disorders.