Tuyl Christopher Van Sells 10,813 Shares of Immunovant (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) insider Tuyl Christopher Van sold 10,813 shares of the stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $26.91, for a total value of $290,977.83. Following the completion of the transaction, the insider owned 149,930 shares in the company, valued at approximately $4,034,616.30. The trade was a 6.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Immunovant Price Performance

Shares of NASDAQ:IMVT traded up $0.50 during midday trading on Friday, hitting $26.68. 3,409,714 shares of the company’s stock were exchanged, compared to its average volume of 1,586,844. Immunovant, Inc. has a 12 month low of $12.72 and a 12 month high of $27.69. The company has a market cap of $4.68 billion, a PE ratio of -9.39 and a beta of 0.56. The stock has a 50 day moving average price of $22.49 and a 200-day moving average price of $18.35.

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

Institutional Investors Weigh In On Immunovant

Large investors have recently added to or reduced their stakes in the company. Strs Ohio purchased a new stake in Immunovant during the first quarter valued at about $27,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Immunovant in the third quarter valued at approximately $33,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Immunovant during the 1st quarter valued at approximately $37,000. PNC Financial Services Group Inc. lifted its stake in shares of Immunovant by 138.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,831 shares of the company’s stock valued at $46,000 after buying an additional 1,646 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Immunovant by 142,750.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,857 shares of the company’s stock worth $46,000 after buying an additional 2,855 shares during the period. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on IMVT shares. The Goldman Sachs Group upped their target price on Immunovant from $18.00 to $28.00 and gave the company a “neutral” rating in a report on Monday. Guggenheim reissued a “buy” rating and issued a $41.00 price objective on shares of Immunovant in a research report on Thursday. JPMorgan Chase & Co. decreased their target price on Immunovant from $37.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, September 30th. HC Wainwright reiterated a “buy” rating and set a $35.00 target price on shares of Immunovant in a research note on Thursday, September 4th. Finally, Truist Financial started coverage on shares of Immunovant in a research report on Tuesday, October 14th. They set a “hold” rating and a $16.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $27.63.

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.