Immunovant (NASDAQ:IMVT) COO Melanie Gloria Sells 2,036 Shares

Immunovant, Inc. (NASDAQ:IMVT) COO Melanie Gloria sold 2,036 shares of the business’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $39.55, for a total value of $80,523.80. Following the transaction, the chief operating officer owned 222,357 shares in the company, valued at approximately $8,794,219.35. This represents a 0.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Melanie Gloria also recently made the following trade(s):

• On Friday, June 26th, Melanie Gloria sold 17,714 shares of Immunovant stock. The stock was sold at an average price of $38.31, for a total value of $678,623.34.

Immunovant Trading Down 3.4%

NASDAQ:IMVT traded down $1.38 during trading hours on Friday, hitting $39.71. The stock had a trading volume of 1,095,103 shares, compared to its average volume of 1,545,434. The company has a market cap of $8.15 billion, a PE ratio of -14.28 and a beta of 0.76. The business has a 50 day simple moving average of $33.66 and a two-hundred day simple moving average of $28.75. Immunovant, Inc. has a 1-year low of $14.32 and a 1-year high of $41.23.

Immunovant (NASDAQ:IMVT) last posted its earnings results on Wednesday, May 20th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.13). During the same period last year, the business earned ($0.64) EPS. Research analysts expect that Immunovant, Inc. will post -2.65 EPS for the current fiscal year.

Institutional Trading of Immunovant

Several institutional investors have recently added to or reduced their stakes in IMVT. Geneos Wealth Management Inc. bought a new position in Immunovant during the 4th quarter valued at $25,000. Strs Ohio bought a new stake in shares of Immunovant in the 1st quarter worth about $27,000. PNC Financial Services Group Inc. increased its position in shares of Immunovant by 138.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,831 shares of the company’s stock worth $46,000 after purchasing an additional 1,646 shares during the last quarter. Quarry LP raised its stake in shares of Immunovant by 94.9% in the 4th quarter. Quarry LP now owns 3,000 shares of the company’s stock valued at $76,000 after purchasing an additional 1,461 shares in the last quarter. Finally, FNY Investment Advisers LLC raised its stake in shares of Immunovant by 100.0% in the 4th quarter. FNY Investment Advisers LLC now owns 4,000 shares of the company’s stock valued at $101,000 after purchasing an additional 2,000 shares in the last quarter. 47.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on IMVT shares. Guggenheim upped their price objective on shares of Immunovant from $44.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. HC Wainwright lifted their target price on Immunovant from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. The Goldman Sachs Group boosted their price target on Immunovant from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Immunovant in a report on Monday. Finally, Truist Financial raised their price objective on Immunovant from $23.00 to $30.00 and gave the company a “hold” rating in a research note on Friday, May 22nd. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $39.70.

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.