Melanie Gloria Sells 12,626 Shares of Immunovant (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) COO Melanie Gloria sold 12,626 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $23.62, for a total value of $298,226.12. Following the completion of the sale, the chief operating officer directly owned 173,511 shares of the company’s stock, valued at $4,098,329.82. The trade was a 6.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Immunovant Price Performance

Shares of NASDAQ:IMVT opened at $22.59 on Friday. The business’s 50-day moving average is $19.36 and its 200 day moving average is $17.08. Immunovant, Inc. has a 1 year low of $12.72 and a 1 year high of $29.49. The firm has a market capitalization of $3.96 billion, a P/E ratio of -7.95 and a beta of 0.60.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.01). During the same period last year, the firm posted ($0.74) earnings per share. On average, analysts expect that Immunovant, Inc. will post -2.69 EPS for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on IMVT. JPMorgan Chase & Co. decreased their price target on shares of Immunovant from $37.00 to $33.00 and set an “overweight” rating for the company in a report on Tuesday, September 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immunovant in a research report on Tuesday, October 14th. Citigroup reiterated a “buy” rating on shares of Immunovant in a research note on Monday, August 11th. Truist Financial assumed coverage on Immunovant in a research note on Tuesday, October 14th. They issued a “hold” rating and a $16.00 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $35.00 target price on shares of Immunovant in a report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $28.78.

Hedge Funds Weigh In On Immunovant

Institutional investors and hedge funds have recently modified their holdings of the stock. Alpine Global Management LLC boosted its stake in shares of Immunovant by 4.9% in the third quarter. Alpine Global Management LLC now owns 2,754,731 shares of the company’s stock worth $44,406,000 after buying an additional 128,039 shares during the last quarter. Armistice Capital LLC lifted its holdings in Immunovant by 12.2% in the third quarter. Armistice Capital LLC now owns 5,836,000 shares of the company’s stock valued at $94,076,000 after acquiring an additional 636,000 shares during the period. Two Seas Capital LP boosted its position in Immunovant by 22.6% in the 3rd quarter. Two Seas Capital LP now owns 2,762,040 shares of the company’s stock worth $44,524,000 after purchasing an additional 509,268 shares in the last quarter. Voleon Capital Management LP acquired a new stake in shares of Immunovant during the 3rd quarter worth approximately $629,000. Finally, Verition Fund Management LLC increased its holdings in shares of Immunovant by 795.3% during the 3rd quarter. Verition Fund Management LLC now owns 189,397 shares of the company’s stock valued at $3,053,000 after purchasing an additional 168,243 shares in the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

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.