Police & Firemen s Retirement System of New Jersey Has $261,000 Position in Immunovant, Inc. $IMVT

Police & Firemen s Retirement System of New Jersey raised its holdings in Immunovant, Inc. (NASDAQ:IMVT) by 29.5% in the second quarter, Holdings Channel.com reports. The fund owned 16,301 shares of the company’s stock after acquiring an additional 3,712 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Immunovant were worth $261,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in IMVT. Strs Ohio acquired a new position in shares of Immunovant during the 1st quarter worth $27,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Immunovant in the first quarter worth $37,000. Farther Finance Advisors LLC increased its position in Immunovant by 142,750.0% during the second quarter. Farther Finance Advisors LLC now owns 2,857 shares of the company’s stock worth $46,000 after buying an additional 2,855 shares during the last quarter. Headlands Technologies LLC bought a new position in Immunovant during the first quarter valued at about $51,000. Finally, Covestor Ltd raised its holdings in Immunovant by 187.5% during the first quarter. Covestor Ltd now owns 3,764 shares of the company’s stock valued at $64,000 after buying an additional 2,455 shares in the last quarter. 47.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

IMVT has been the subject of several recent analyst reports. Truist Financial began coverage on Immunovant in a research note on Tuesday, October 14th. They set a “hold” rating and a $16.00 price target for the company. JPMorgan Chase & Co. reduced their target price on Immunovant from $37.00 to $33.00 and set an “overweight” rating for the company in a report on Tuesday, September 30th. HC Wainwright reiterated a “buy” rating and set a $35.00 price target on shares of Immunovant in a report on Thursday, September 4th. Bank of America dropped their price target on shares of Immunovant from $33.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, August 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immunovant in a report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.78.

Immunovant Stock Down 1.0%

Shares of IMVT stock opened at $23.70 on Friday. Immunovant, Inc. has a 12 month low of $12.72 and a 12 month high of $29.49. The firm has a market cap of $4.15 billion, a PE ratio of -8.35 and a beta of 0.60. The stock has a 50 day moving average of $20.03 and a 200-day moving average of $17.32.

Immunovant (NASDAQ:IMVT) last announced its earnings results on Monday, November 10th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.01). During the same period last year, the company earned ($0.74) EPS. As a group, equities analysts predict that Immunovant, Inc. will post -2.69 EPS for the current fiscal year.

Insider Transactions at Immunovant

In related news, COO Melanie Gloria sold 12,626 shares of the business’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $23.62, for a total transaction of $298,226.12. Following the transaction, the chief operating officer directly owned 173,511 shares in the company, valued at $4,098,329.82. The trade was a 6.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Jay S. Stout sold 2,520 shares of the company’s stock in a transaction that occurred on Wednesday, October 22nd. The shares were sold at an average price of $19.03, for a total value of $47,955.60. Following the completion of the transaction, the chief technology officer directly owned 200,814 shares of the company’s stock, valued at approximately $3,821,490.42. This trade represents a 1.24% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 20,598 shares of company stock worth $442,134. 1.80% of the stock is currently owned by company insiders.

About Immunovant

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.