Immunovant (NASDAQ:IMVT) Director Atul Pande Sells 3,000 Shares of Company Stock

Immunovant, Inc. (NASDAQ:IMVT) Director Atul Pande sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $36.00, for a total transaction of $108,000.00. Following the sale, the director owned 116,731 shares in the company, valued at $4,202,316. The trade was a 2.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Atul Pande also recently made the following trade(s):

• On Friday, August 28th, Atul Pande sold 1,500 shares of Immunovant stock. The shares were sold at an average price of $43.27, for a total transaction of $64,905.00.

Immunovant Trading Down 5.4%

Immunovant stock opened at $35.05 on Friday. The firm has a 50 day simple moving average of $32.74 and a 200 day simple moving average of $32.30. Immunovant, Inc. has a 1-year low of $21.86 and a 1-year high of $45.42. The firm has a market capitalization of $7.25 billion, a price-to-earnings ratio of -13.69 and a beta of 0.95.

Immunovant (NASDAQ:IMVT) last posted its earnings results on Monday, November 9th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.74) by $0.27. During the same period in the previous year, the company posted ($0.73) EPS. On average, equities research analysts forecast that Immunovant, Inc. will post -2.78 EPS for the current year.

Wall Street Analysts Forecast Growth

IMVT has been the subject of several analyst reports. Wells Fargo & Company raised their target price on Immunovant from $45.00 to $47.00 and gave the stock an “overweight” rating in a research note on Tuesday. Sanford C. Bernstein raised Immunovant to a “hold” rating in a report on Wednesday, July 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immunovant in a research report on Friday, October 2nd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunovant in a research note on Tuesday, August 25th. Finally, Citigroup reissued a “positive” rating on shares of Immunovant in a research note on Thursday, September 24th. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Immunovant currently has a consensus rating of “Moderate Buy” and an average target price of $44.60.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Gabelli Funds LLC bought a new stake in Immunovant during the third quarter valued at approximately $338,000. First Trust Advisors LP increased its position in shares of Immunovant by 22.6% during the 3rd quarter. First Trust Advisors LP now owns 6,625 shares of the company’s stock valued at $224,000 after purchasing an additional 1,220 shares during the last quarter. Private Advisor Group LLC bought a new position in shares of Immunovant during the 3rd quarter valued at about $488,000. Voya Investment Management LLC raised its holdings in shares of Immunovant by 6.5% during the 3rd quarter. Voya Investment Management LLC now owns 93,726 shares of the company’s stock valued at $3,166,000 after buying an additional 5,733 shares in the last quarter. Finally, HighTower Advisors LLC raised its holdings in shares of Immunovant by 0.8% during the 3rd quarter. HighTower Advisors LLC now owns 56,541 shares of the company’s stock valued at $1,910,000 after buying an additional 437 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors.

About Immunovant

Immunovant, Inc. is a clinical-stage biopharmaceutical company developing treatments for autoimmune diseases. Its research focuses on inhibiting the neonatal Fc receptor (FcRn), a pathway involved in maintaining levels of disease-causing antibodies. The company’s investigational medicines include batoclimab and IMVT-1402, both designed to reduce circulating antibodies. Immunovant has studied or evaluated these candidates for conditions including myasthenia gravis, Graves’ disease and other autoimmune disorders.