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

Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann sold 34,079 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $29.06, for a total value of $990,335.74. Following the transaction, the chief executive officer now directly owns 1,052,879 shares in the company, valued at $30,596,663.74. The sale was disclosed in a filing with the SEC, which is available 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 shares were sold at an average price of $31.18, for a total value of $149,882.26.

Immunovant Trading Down 0.4 %

IMVT stock traded down $0.10 during midday trading on Friday, hitting $28.22. 1,078,875 shares of the company’s stock were exchanged, compared to its average volume of 1,234,374. The business has a 50-day simple moving average of $33.15 and a two-hundred day simple moving average of $36.10. The stock has a market capitalization of $4.10 billion, a PE ratio of -15.10 and a beta of 0.65. Immunovant, Inc. has a 1-year low of $15.08 and a 1-year high of $45.58.

Immunovant (NASDAQ:IMVT) last posted its earnings results on Monday, February 12th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.07. As a group, research analysts expect that Immunovant, Inc. will post -1.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on IMVT shares. Truist Financial reissued a “buy” rating and issued a $48.00 price objective on shares of Immunovant in a report on Monday, March 25th. Oppenheimer initiated coverage on Immunovant in a research note on Thursday, March 28th. They issued an “outperform” rating and a $50.00 target price on the stock. JPMorgan Chase & Co. initiated coverage on Immunovant in a research note on Tuesday, February 20th. They issued an “overweight” rating and a $51.00 target price on the stock. HC Wainwright upped their target price on Immunovant from $47.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, December 21st. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Immunovant in a research note on Friday, January 12th. Seventeen equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $48.00.

Institutional Investors Weigh In On Immunovant

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Swiss National Bank grew its stake in shares of Immunovant by 7.2% in the first quarter. Swiss National Bank now owns 95,100 shares of the company’s stock valued at $524,000 after buying an additional 6,400 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Immunovant by 205.6% in the first quarter. JPMorgan Chase & Co. now owns 461,582 shares of the company’s stock valued at $2,543,000 after purchasing an additional 310,520 shares during the period. MetLife Investment Management LLC boosted its holdings in Immunovant by 423.9% in the first quarter. MetLife Investment Management LLC now owns 25,184 shares of the company’s stock valued at $139,000 after purchasing an additional 20,377 shares during the period. BlackRock Inc. boosted its holdings in Immunovant by 0.9% in the first quarter. BlackRock Inc. now owns 3,353,866 shares of the company’s stock valued at $18,479,000 after purchasing an additional 28,865 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Immunovant by 148.6% in the first quarter. Dimensional Fund Advisors LP now owns 690,965 shares of the company’s stock valued at $3,807,000 after purchasing an additional 412,997 shares during the period. 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.