Peter Salzmann Sells 5,105 Shares of Immunovant, Inc. (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) CEO Peter Salzmann sold 5,105 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $24.10, for a total transaction of $123,030.50. Following the completion of the transaction, the chief executive officer now owns 972,992 shares of the company’s stock, valued at $23,449,107.20. The trade was a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Wednesday, November 20th, Peter Salzmann sold 16,692 shares of Immunovant stock. The shares were sold at an average price of $25.45, for a total transaction of $424,811.40.
• On Wednesday, November 20th, Peter Salzmann sold 16,692 shares of Immunovant stock. The stock was sold at an average price of $25.45, for a total value of $424,811.40.
• On Wednesday, October 16th, Peter Salzmann sold 9,095 shares of Immunovant stock. The stock was sold at an average price of $28.79, for a total value of $261,845.05.

Immunovant Stock Performance

Shares of NASDAQ:IMVT traded down $0.15 during mid-day trading on Friday, reaching $23.48. 832,137 shares of the company’s stock were exchanged, compared to its average volume of 630,140. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of -10.58 and a beta of 0.66. Immunovant, Inc. has a twelve month low of $23.08 and a twelve month high of $43.92. The business’s fifty day moving average price is $27.19 and its 200-day moving average price is $28.61.

Immunovant (NASDAQ:IMVT) last announced its earnings results on Thursday, November 7th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.15). During the same period in the previous year, the business earned ($0.45) earnings per share. Analysts predict that Immunovant, Inc. will post -2.73 EPS for the current fiscal year.

Institutional Trading of Immunovant

Several institutional investors have recently added to or reduced their stakes in the stock. KBC Group NV grew its holdings in Immunovant by 46.2% during the 3rd quarter. KBC Group NV now owns 1,936 shares of the company’s stock worth $55,000 after acquiring an additional 612 shares during the period. Quest Partners LLC boosted its position in shares of Immunovant by 216.7% during the 2nd quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock valued at $69,000 after purchasing an additional 1,786 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Immunovant during the second quarter worth approximately $77,000. Assetmark Inc. increased its holdings in Immunovant by 73.8% in the third quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock worth $82,000 after purchasing an additional 1,228 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Immunovant by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock valued at $148,000 after buying an additional 934 shares during the period. 47.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on IMVT shares. Oppenheimer raised their price objective on Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. HC Wainwright reaffirmed a “buy” rating and set a $51.00 price target on shares of Immunovant in a report on Friday, November 8th. Wolfe Research downgraded shares of Immunovant from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Wells Fargo & Company cut their target price on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, Raymond James reiterated an “outperform” rating and set a $36.00 price target on shares of Immunovant in a report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.22.

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.