Tuyl Christopher Van Sells 1,206 Shares of Immunovant (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) insider Tuyl Christopher Van sold 1,206 shares of Immunovant stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $39.55, for a total value of $47,697.30. Following the sale, the insider directly owned 179,391 shares of the company’s stock, valued at approximately $7,094,914.05. This trade represents a 0.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Tuyl Christopher Van also recently made the following trade(s):

• On Friday, June 26th, Tuyl Christopher Van sold 17,824 shares of Immunovant stock. The shares were sold at an average price of $38.31, for a total value of $682,837.44.

Immunovant Stock Performance

NASDAQ:IMVT traded down $1.38 during mid-day trading on Friday, hitting $39.71. The company had a trading volume of 1,095,102 shares, compared to its average volume of 1,648,906. Immunovant, Inc. has a fifty-two week low of $14.32 and a fifty-two week high of $41.23. The firm has a market cap of $8.15 billion, a P/E ratio of -14.28 and a beta of 0.76. The business’s fifty day moving average is $33.40 and its two-hundred day moving average is $28.67.

Immunovant (NASDAQ:IMVT) last posted its earnings results on Wednesday, May 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.13). During the same period in the prior year, the business posted ($0.64) earnings per share. Equities analysts forecast that Immunovant, Inc. will post -2.65 earnings per share for the current year.

Institutional Trading of Immunovant

A number of large investors have recently bought and sold shares of IMVT. Geneos Wealth Management Inc. acquired a new stake in Immunovant during the 4th quarter worth approximately $25,000. Strs Ohio acquired a new position in shares of Immunovant in the first quarter valued at approximately $27,000. PNC Financial Services Group Inc. increased its position in shares of Immunovant by 138.9% during the third quarter. PNC Financial Services Group Inc. now owns 2,831 shares of the company’s stock worth $46,000 after acquiring an additional 1,646 shares in the last quarter. Quarry LP increased its position in shares of Immunovant by 94.9% during the fourth quarter. Quarry LP now owns 3,000 shares of the company’s stock worth $76,000 after acquiring an additional 1,461 shares in the last quarter. Finally, FNY Investment Advisers LLC increased its position in shares of Immunovant by 100.0% during the fourth quarter. FNY Investment Advisers LLC now owns 4,000 shares of the company’s stock worth $101,000 after acquiring an additional 2,000 shares in the last quarter. 47.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on IMVT shares. Weiss Ratings restated a “sell (d-)” rating on shares of Immunovant in a report on Monday. Guggenheim lifted their price target on shares of Immunovant from $44.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Truist Financial boosted their price target on shares of Immunovant from $23.00 to $30.00 and gave the company a “hold” rating in a report on Friday, May 22nd. Bank of America upped their price objective on shares of Immunovant from $32.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Finally, HC Wainwright raised their price objective on Immunovant from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $39.70.

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.