Immunovant, Inc. (NASDAQ:IMVT) Shares Sold by US Bancorp DE

US Bancorp DE lowered its holdings in shares of Immunovant, Inc. (NASDAQ:IMVT) by 26.0% during the third quarter, HoldingsChannel.com reports. The firm owned 1,699 shares of the company’s stock after selling 596 shares during the period. US Bancorp DE’s holdings in Immunovant were worth $48,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Immunovant by 11.2% during the 1st quarter. Vanguard Group Inc. now owns 6,478,304 shares of the company’s stock worth $209,314,000 after buying an additional 650,506 shares during the period. Armistice Capital LLC grew its position in shares of Immunovant by 57.0% in the second quarter. Armistice Capital LLC now owns 3,396,909 shares of the company’s stock valued at $89,678,000 after purchasing an additional 1,232,909 shares during the period. Alpine Global Management LLC increased its stake in shares of Immunovant by 34.6% during the first quarter. Alpine Global Management LLC now owns 1,882,704 shares of the company’s stock worth $60,830,000 after purchasing an additional 484,332 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Immunovant by 16.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,862,043 shares of the company’s stock worth $60,163,000 after purchasing an additional 259,481 shares during the last quarter. Finally, First Turn Management LLC lifted its stake in Immunovant by 35.6% in the 2nd quarter. First Turn Management LLC now owns 695,428 shares of the company’s stock valued at $18,359,000 after buying an additional 182,535 shares in the last quarter. 47.08% of the stock is owned by institutional investors and hedge funds.

Immunovant Price Performance

NASDAQ IMVT opened at $26.63 on Monday. The stock has a market capitalization of $3.91 billion, a P/E ratio of -12.00 and a beta of 0.66. The firm’s 50-day moving average is $29.45 and its two-hundred day moving average is $29.01. Immunovant, Inc. has a 12 month low of $24.67 and a 12 month high of $45.58.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.15). During the same period in the previous year, the business posted ($0.45) EPS. As a group, analysts anticipate that Immunovant, Inc. will post -2.7 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on IMVT. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunovant in a research note on Monday, September 9th. Oppenheimer boosted their price target on Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. UBS Group reduced their price objective on Immunovant from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. HC Wainwright reaffirmed a “buy” rating and set a $51.00 target price on shares of Immunovant in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. dropped their price target on Immunovant from $51.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, Immunovant has a consensus rating of “Buy” and an average price target of $48.10.

Insiders Place Their Bets

In other Immunovant news, CEO Peter Salzmann sold 4,460 shares of Immunovant stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $29.56, for a total value of $131,837.60. Following the completion of the transaction, the chief executive officer now directly owns 1,003,884 shares of the company’s stock, valued at $29,674,811.04. The trade was a 0.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark S. Levine sold 4,361 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $29.53, for a total transaction of $128,780.33. Following the sale, the insider now owns 322,878 shares in the company, valued at $9,534,587.34. This trade represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,277 shares of company stock worth $941,919 over the last ninety days. Corporate insiders own 5.90% of the company’s stock.

Immunovant 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.