Immunovant, Inc. $IMVT Shares Sold by Profund Advisors LLC

Profund Advisors LLC decreased its position in Immunovant, Inc. (NASDAQ:IMVT) by 21.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,436 shares of the company’s stock after selling 6,124 shares during the quarter. Profund Advisors LLC’s holdings in Immunovant were worth $359,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Strs Ohio purchased a new stake in Immunovant during the first quarter worth $27,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Immunovant during the 1st quarter valued at about $37,000. Farther Finance Advisors LLC raised its holdings in shares of Immunovant by 142,750.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 2,857 shares of the company’s stock valued at $46,000 after buying an additional 2,855 shares during the period. Headlands Technologies LLC acquired a new position in Immunovant during the 1st quarter worth approximately $51,000. Finally, Covestor Ltd boosted its holdings in Immunovant by 187.5% in the 1st quarter. Covestor Ltd now owns 3,764 shares of the company’s stock worth $64,000 after acquiring an additional 2,455 shares during the period. 47.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IMVT. Weiss Ratings restated a “sell (d-)” rating on shares of Immunovant in a research note on Tuesday, October 14th. JPMorgan Chase & Co. lowered their target price on Immunovant from $37.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, September 30th. HC Wainwright reiterated a “buy” rating and issued a $35.00 price target on shares of Immunovant in a research note on Thursday, September 4th. UBS Group increased their price target on Immunovant from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, July 28th. Finally, Truist Financial began coverage on Immunovant in a research note on Tuesday, October 14th. They set a “hold” rating and a $16.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Immunovant currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.78.

Immunovant Trading Down 2.6%

IMVT stock opened at $22.82 on Friday. The firm’s 50-day moving average is $18.54 and its two-hundred day moving average is $16.73. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of -8.04 and a beta of 0.60. Immunovant, Inc. has a 52 week low of $12.72 and a 52 week high of $29.49.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.01). During the same quarter last year, the business posted ($0.74) earnings per share. On average, equities research analysts predict that Immunovant, Inc. will post -2.69 earnings per share for the current year.

Insider Buying and Selling

In other Immunovant news, insider Michael Geffner sold 2,595 shares of the business’s stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $19.03, for a total transaction of $49,382.85. Following the sale, the insider directly owned 217,958 shares of the company’s stock, valued at $4,147,740.74. The trade was a 1.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Jay S. Stout sold 2,520 shares of the firm’s stock in a transaction on Wednesday, October 22nd. The stock was sold at an average price of $19.03, for a total value of $47,955.60. Following the completion of the sale, 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. Insiders have sold 7,972 shares of company stock worth $143,908 in the last 90 days. 1.80% of the stock is owned by company insiders.

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.