Immunovant, Inc. (NASDAQ:IMVT) Shares Sold by Redmile Group LLC

Redmile Group LLC decreased its position in shares of Immunovant, Inc. (NASDAQ:IMVT) by 11.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 571,824 shares of the company’s stock after selling 70,405 shares during the period. Immunovant accounts for approximately 1.0% of Redmile Group LLC’s portfolio, making the stock its 29th biggest holding. Redmile Group LLC’s holdings in Immunovant were worth $14,164,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IMVT. FMR LLC grew its position in shares of Immunovant by 4.5% during the fourth quarter. FMR LLC now owns 13,097,915 shares of the company’s stock worth $324,435,000 after acquiring an additional 560,344 shares during the last quarter. Vanguard Group Inc. increased its stake in Immunovant by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,679,414 shares of the company’s stock valued at $165,449,000 after purchasing an additional 20,614 shares during the period. Deep Track Capital LP raised its holdings in shares of Immunovant by 38.0% in the fourth quarter. Deep Track Capital LP now owns 6,000,000 shares of the company’s stock valued at $148,620,000 after buying an additional 1,652,536 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of Immunovant by 53.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,117,234 shares of the company’s stock worth $126,754,000 after buying an additional 1,786,217 shares during the period. Finally, Alpine Global Management LLC grew its holdings in shares of Immunovant by 14.7% during the fourth quarter. Alpine Global Management LLC now owns 2,158,904 shares of the company’s stock worth $53,476,000 after buying an additional 276,200 shares during the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the company. Jefferies Financial Group started coverage on Immunovant in a research note on Monday, March 3rd. They set a “hold” rating and a $20.00 price objective for the company. Bank of America decreased their price target on Immunovant from $38.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, March 20th. Guggenheim reiterated a “buy” rating on shares of Immunovant in a research report on Thursday, March 20th. Cantor Fitzgerald upgraded shares of Immunovant to a “strong-buy” rating in a research report on Tuesday, March 4th. Finally, HC Wainwright restated a “buy” rating and issued a $51.00 target price on shares of Immunovant in a research note on Wednesday, March 19th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.33.

Immunovant Stock Performance

Immunovant stock opened at $13.78 on Thursday. The company has a market cap of $2.34 billion, a P/E ratio of -5.26 and a beta of 0.75. Immunovant, Inc. has a one year low of $12.72 and a one year high of $34.47. The business has a fifty day moving average of $16.15 and a two-hundred day moving average of $21.78.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings data on Monday, February 10th. The company reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.08). Sell-side analysts predict that Immunovant, Inc. will post -2.69 EPS for the current year.

Insider Transactions at Immunovant

In other news, CEO Peter Salzmann sold 28,094 shares of the business’s stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $12.99, for a total value of $364,941.06. Following the completion of the transaction, the chief executive officer now directly owns 1,186,512 shares of the company’s stock, valued at $15,412,790.88. The trade was a 2.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Andrew J. Fromkin sold 8,000 shares of Immunovant stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $19.60, for a total value of $156,800.00. Following the sale, the director now owns 91,913 shares of the company’s stock, valued at approximately $1,801,494.80. This represents a 8.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,682 shares of company stock valued at $753,419 in the last quarter. 5.90% of the stock is currently owned by corporate 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.