Immunovant, Inc. (NASDAQ:IMVT) Holdings Lowered by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its stake in Immunovant, Inc. (NASDAQ:IMVT) by 4.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,175,685 shares of the company’s stock after selling 54,624 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Immunovant were worth $29,122,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of IMVT. KBC Group NV boosted its holdings in shares of Immunovant by 60.1% in the fourth quarter. KBC Group NV now owns 3,099 shares of the company’s stock worth $77,000 after buying an additional 1,163 shares during the period. Rhumbline Advisers boosted its stake in Immunovant by 1.5% in the 4th quarter. Rhumbline Advisers now owns 80,932 shares of the company’s stock worth $2,005,000 after purchasing an additional 1,188 shares during the period. Swiss National Bank grew its position in Immunovant by 1.2% during the 4th quarter. Swiss National Bank now owns 100,800 shares of the company’s stock worth $2,497,000 after purchasing an additional 1,200 shares in the last quarter. Tyro Capital Management LLC raised its stake in Immunovant by 0.6% during the 3rd quarter. Tyro Capital Management LLC now owns 252,149 shares of the company’s stock valued at $7,189,000 after purchasing an additional 1,529 shares during the period. Finally, Sei Investments Co. lifted its holdings in shares of Immunovant by 4.0% in the fourth quarter. Sei Investments Co. now owns 40,456 shares of the company’s stock valued at $1,002,000 after purchasing an additional 1,541 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IMVT. Wolfe Research downgraded Immunovant from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Bank of America dropped their target price on Immunovant from $38.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Wells Fargo & Company lowered their price objective on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Jefferies Financial Group began coverage on shares of Immunovant in a research report on Monday, March 3rd. They issued a “hold” rating and a $20.00 target price for the company. Finally, HC Wainwright restated a “buy” rating and set a $51.00 price target on shares of Immunovant in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Immunovant presently has a consensus rating of “Buy” and an average target price of $41.00.

Insider Buying and Selling

In other Immunovant news, CEO Peter Salzmann sold 5,105 shares of Immunovant stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $24.10, for a total value of $123,030.50. Following the transaction, the chief executive officer now directly owns 972,992 shares of the company’s stock, valued at $23,449,107.20. The trade was a 0.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Andrew J. Fromkin sold 8,000 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $19.60, for a total value of $156,800.00. Following the completion of the sale, the director now directly owns 91,913 shares of the company’s stock, valued at $1,801,494.80. This represents a 8.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,510 shares of company stock worth $813,686. 5.90% of the stock is currently owned by insiders.

Immunovant Trading Down 2.2 %

IMVT stock opened at $18.37 on Monday. The firm has a market cap of $3.12 billion, a PE ratio of -7.01 and a beta of 0.68. Immunovant, Inc. has a 1 year low of $17.01 and a 1 year high of $34.47. The company has a fifty day simple moving average of $20.36 and a 200 day simple moving average of $25.18.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings results on Monday, February 10th. The company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.08). As a group, analysts forecast that Immunovant, Inc. will post -2.69 EPS for the current fiscal year.

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.