Immunovant, Inc. (NASDAQ:IMVT – Get Free Report) saw a significant growth in short interest in the month of April. As of April 30th, there was short interest totalling 8,960,000 shares, a growth of 5.3% from the April 15th total of 8,510,000 shares. Based on an average daily volume of 1,130,000 shares, the short-interest ratio is presently 7.9 days. Approximately 14.8% of the shares of the company are sold short.
Immunovant Price Performance
Shares of NASDAQ IMVT opened at $30.70 on Friday. The business has a 50 day simple moving average of $30.25 and a 200 day simple moving average of $35.17. Immunovant has a 52 week low of $18.16 and a 52 week high of $45.58.
Insider Activity
In related news, insider Mark S. Levine sold 2,134 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $36.15, for a total value of $77,144.10. Following the completion of the sale, the insider now owns 301,968 shares of the company’s stock, valued at $10,916,143.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CTO Jay S. Stout sold 7,239 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $28.90, for a total value of $209,207.10. Following the completion of the sale, the chief technology officer now owns 147,739 shares in the company, valued at $4,269,657.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark S. Levine sold 2,134 shares of Immunovant stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $36.15, for a total value of $77,144.10. Following the transaction, the insider now directly owns 301,968 shares in the company, valued at $10,916,143.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 81,560 shares of company stock valued at $2,424,601. Company insiders own 4.80% of the company’s stock.
Institutional Trading of Immunovant
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on IMVT. Wolfe Research assumed coverage on shares of Immunovant in a report on Thursday, February 15th. They set an “outperform” rating and a $55.00 target price for the company. The Goldman Sachs Group started coverage on Immunovant in a research report on Wednesday, March 13th. They issued a “buy” rating and a $50.00 price target for the company. JPMorgan Chase & Co. started coverage on Immunovant in a report on Tuesday, February 20th. They set an “overweight” rating and a $51.00 price objective on the stock. Truist Financial reiterated a “buy” rating and issued a $48.00 target price on shares of Immunovant in a report on Monday, March 25th. Finally, Oppenheimer began coverage on shares of Immunovant in a report on Thursday, March 28th. They set an “outperform” rating and a $50.00 price target on the stock. Seventeen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $48.00.
View Our Latest Analysis on IMVT
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.
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