Eva Renee Barnett Sells 3,689 Shares of Immunovant, Inc. (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) CFO Eva Renee Barnett sold 3,689 shares of the stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $31.18, for a total transaction of $115,023.02. Following the completion of the sale, the chief financial officer now directly owns 371,709 shares of the company’s stock, valued at approximately $11,589,886.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Eva Renee Barnett also recently made the following trade(s):

• On Thursday, February 22nd, Eva Renee Barnett sold 2,930 shares of Immunovant stock. The shares were sold at an average price of $36.15, for a total transaction of $105,919.50.
• On Thursday, January 11th, Eva Renee Barnett sold 3,515 shares of Immunovant stock. The shares were sold at an average price of $41.83, for a total transaction of $147,032.45.

Immunovant Stock Performance

IMVT stock opened at $30.72 on Friday. The stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of -16.70 and a beta of 0.65. Immunovant, Inc. has a 1 year low of $14.11 and a 1 year high of $45.58. The stock’s fifty day moving average is $33.78 and its two-hundred day moving average is $36.31.

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

Institutional Investors Weigh In On Immunovant

A number of hedge funds have recently added to or reduced their stakes in IMVT. Point72 Asset Management L.P. bought a new stake in shares of Immunovant during the fourth quarter valued at about $112,356,000. FMR LLC raised its stake in shares of Immunovant by 47.5% during the third 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 in the last quarter. Federated Hermes Inc. raised its stake in shares of Immunovant by 281.2% during the first quarter. Federated Hermes Inc. now owns 1,903,894 shares of the company’s stock valued at $10,491,000 after purchasing an additional 1,404,404 shares in the last quarter. Octagon Capital Advisors LP raised its stake in shares of Immunovant by 127.3% during the fourth quarter. Octagon Capital Advisors LP now owns 273,289 shares of the company’s stock valued at $11,514,000 after purchasing an additional 1,273,289 shares in the last quarter. Finally, Perceptive Advisors LLC raised its stake in shares of Immunovant by 95.4% during the second quarter. Perceptive Advisors LLC now owns 2,523,783 shares of the company’s stock valued at $47,876,000 after purchasing an additional 1,231,925 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Immunovant in a research report on Tuesday, February 20th. They set an “overweight” rating and a $51.00 price target for the company. The Goldman Sachs Group assumed coverage on shares of Immunovant in a research report on Wednesday, March 13th. They set a “buy” rating and a $50.00 price target for the company. Bank of America raised their price target on shares of Immunovant from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, December 21st. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunovant in a research report on Friday, January 12th. Finally, HC Wainwright raised their price target on shares of Immunovant from $47.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, December 21st. Seventeen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $48.00.

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.