Peter Salzmann Sells 34,079 Shares of Immunovant, Inc. (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann sold 34,079 shares of Immunovant stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $29.06, for a total value of $990,335.74. Following the completion of the transaction, the chief executive officer now owns 1,052,879 shares of the company’s stock, valued at $30,596,663.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Peter Salzmann also recently made the following trade(s):

• On Tuesday, April 9th, Peter Salzmann sold 4,807 shares of Immunovant stock. The stock was sold at an average price of $31.18, for a total value of $149,882.26.

Immunovant Trading Down 0.4 %

NASDAQ:IMVT traded down $0.10 during trading hours on Friday, hitting $28.22. 1,078,875 shares of the stock traded hands, compared to its average volume of 1,234,374. The firm has a 50 day moving average price of $33.15 and a 200 day moving average price of $36.10. Immunovant, Inc. has a fifty-two week low of $15.08 and a fifty-two week high of $45.58. The firm has a market cap of $4.10 billion, a price-to-earnings ratio of -15.10 and a beta of 0.65.

Immunovant (NASDAQ:IMVT) last announced its earnings results on Monday, February 12th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.07. Research analysts predict that Immunovant, Inc. will post -1.7 EPS for the current year.

Institutional Trading of Immunovant

Several large investors have recently added to or reduced their stakes in the company. FMR LLC raised its stake in Immunovant by 47.5% during the 3rd quarter. FMR LLC now owns 7,748,546 shares of the company’s stock valued at $297,467,000 after purchasing an additional 2,494,678 shares during the period. Vanguard Group Inc. grew its holdings in shares of Immunovant by 14.0% during the 3rd quarter. Vanguard Group Inc. now owns 6,233,146 shares of the company’s stock valued at $239,290,000 after acquiring an additional 764,530 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Immunovant by 6.7% during the 2nd quarter. BlackRock Inc. now owns 4,201,314 shares of the company’s stock valued at $79,699,000 after acquiring an additional 264,133 shares in the last quarter. State Street Corp grew its holdings in shares of Immunovant by 27.5% during the 1st quarter. State Street Corp now owns 3,967,605 shares of the company’s stock valued at $61,538,000 after acquiring an additional 854,662 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Immunovant during the 4th quarter valued at $112,356,000. 47.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on IMVT. The Goldman Sachs Group began coverage on Immunovant in a research note on Wednesday, March 13th. They issued a “buy” rating and a $50.00 price target for the company. Truist Financial reiterated a “buy” rating and issued a $48.00 price target on shares of Immunovant in a research note on Monday, March 25th. Cantor Fitzgerald restated an “overweight” rating on shares of Immunovant in a research note on Friday, January 12th. Oppenheimer began coverage on Immunovant in a research note on Thursday, March 28th. They issued an “outperform” rating and a $50.00 target price for the company. Finally, Bank of America lifted their target price on Immunovant from $49.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, December 21st. Seventeen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Immunovant presently has a consensus rating of “Buy” and an average price target of $48.00.

About Immunovant

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.