Melanie Gloria Sells 17,714 Shares of Immunovant (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) COO Melanie Gloria sold 17,714 shares of the stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $38.31, for a total value of $678,623.34. Following the transaction, the chief operating officer owned 224,393 shares in the company, valued at $8,596,495.83. This trade represents a 7.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Melanie Gloria also recently made the following trade(s):

• On Wednesday, April 8th, Melanie Gloria sold 8,722 shares of Immunovant stock. The stock was sold at an average price of $24.83, for a total value of $216,567.26.

Immunovant Price Performance

IMVT opened at $38.85 on Friday. Immunovant, Inc. has a 12 month low of $14.32 and a 12 month high of $39.28. The business has a 50-day moving average of $31.47 and a two-hundred day moving average of $27.77. The stock has a market capitalization of $7.98 billion, a price-to-earnings ratio of -13.97 and a beta of 0.76.

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

Analyst Ratings Changes

A number of research firms have weighed in on IMVT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immunovant in a research note on Wednesday, April 8th. Guggenheim boosted their price objective on shares of Immunovant from $44.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Sanford C. Bernstein assumed coverage on Immunovant in a report on Friday, March 20th. They set a “market perform” rating and a $28.00 price objective for the company. HC Wainwright increased their target price on Immunovant from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Finally, The Goldman Sachs Group increased their target price on Immunovant from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 15th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $37.33.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of IMVT. Deep Track Capital LP lifted its position in Immunovant by 2.4% during the third quarter. Deep Track Capital LP now owns 9,728,845 shares of the company’s stock valued at $156,829,000 after buying an additional 228,845 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Immunovant by 14.0% in the fourth quarter. Vanguard Group Inc. now owns 7,779,314 shares of the company’s stock worth $197,750,000 after acquiring an additional 952,504 shares in the last quarter. Armistice Capital LLC raised its stake in shares of Immunovant by 12.2% in the 3rd quarter. Armistice Capital LLC now owns 5,836,000 shares of the company’s stock valued at $94,076,000 after acquiring an additional 636,000 shares during the period. Morgan Stanley raised its stake in shares of Immunovant by 147.4% in the 4th quarter. Morgan Stanley now owns 4,846,385 shares of the company’s stock valued at $123,195,000 after acquiring an additional 2,887,359 shares during the period. Finally, State Street Corp lifted its holdings in shares of Immunovant by 30.9% during the 4th quarter. State Street Corp now owns 3,786,926 shares of the company’s stock valued at $96,264,000 after acquiring an additional 894,308 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

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.