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Andrew J. Fromkin, a director at Immunovant, Inc. (NASDAQ:IMVT), a $3.35 billion market cap biotech company, has recently sold a portion of his shares in the company. The stock has shown strong momentum with a nearly 10% gain over the past week, according to InvestingPro data. According to a recent SEC filing, Fromkin sold a total of 8,000 shares of Immunovant common stock on March 7, 2025. The transactions were executed under a pre-arranged Rule 10b5-1 trading plan, which was established to cover tax obligations related to previously vested restricted stock units.
The shares were sold at prices ranging from $19.52 to $19.96, generating a total of $156,768. Following these transactions, Fromkin retains ownership of 91,913 shares of Immunovant.
In other recent news, Immunovant has been the focus of several analysts and financial activities. Piper Sandler maintained an Overweight rating on Immunovant with a price target of $57.00, citing upcoming milestones with its batoclimab trials as a significant factor. In contrast, Jefferies initiated coverage with a Hold rating and a $20.00 price target, highlighting potential but expressing caution due to upcoming trial data. Guggenheim adjusted its price target to $44.00 from $46.00 while maintaining a Buy rating, reflecting updated financial models and expectations for batoclimab’s sales potential. H.C. Wainwright also reaffirmed a Buy rating with a price target of $51.00, emphasizing confidence in Immunovant’s pipeline and upcoming trial results.
Additionally, Immunovant registered shares for resale by certain stockholders, allowing them the option to sell shares acquired through a private placement. This registration does not imply immediate sales but provides a legal framework for potential transactions. These developments reflect a diverse range of opinions and activities surrounding Immunovant, with analysts focusing on its clinical trials and potential market opportunities.
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