Voya Investment Management LLC Lowers Stock Holdings in Immunovant, Inc. $IMVT

Voya Investment Management LLC lowered its stake in Immunovant, Inc. (NASDAQ:IMVT) by 5.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,069 shares of the company’s stock after selling 1,792 shares during the period. Voya Investment Management LLC’s holdings in Immunovant were worth $582,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of IMVT. Baker BROS. Advisors LP grew its position in Immunovant by 219.6% in the 1st quarter. Baker BROS. Advisors LP now owns 5,457,881 shares of the company’s stock valued at $93,275,000 after buying an additional 3,750,000 shares during the last quarter. Woodline Partners LP lifted its stake in shares of Immunovant by 133.0% in the 1st quarter. Woodline Partners LP now owns 1,497,869 shares of the company’s stock worth $25,599,000 after acquiring an additional 855,143 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of Immunovant by 15.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,894,824 shares of the company’s stock worth $100,743,000 after acquiring an additional 777,590 shares during the period. Alpine Global Management LLC boosted its holdings in shares of Immunovant by 21.7% in the first quarter. Alpine Global Management LLC now owns 2,626,692 shares of the company’s stock valued at $44,890,000 after acquiring an additional 467,788 shares in the last quarter. Finally, Affinity Asset Advisors LLC increased its stake in shares of Immunovant by 330.0% during the first quarter. Affinity Asset Advisors LLC now owns 430,000 shares of the company’s stock worth $7,349,000 after acquiring an additional 330,000 shares during the period. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Bank of America cut their price target on shares of Immunovant from $33.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, August 12th. JPMorgan Chase & Co. dropped their target price on Immunovant from $40.00 to $37.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 12th. The Goldman Sachs Group raised Immunovant to a “hold” rating and set a $18.00 target price for the company in a research note on Thursday, July 10th. UBS Group lifted their price target on Immunovant from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, July 28th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $35.00 price objective on shares of Immunovant in a report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $33.60.

Insider Buying and Selling at Immunovant

In other news, insider Michael Geffner sold 2,385 shares of Immunovant stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $18.15, for a total transaction of $43,287.75. Following the completion of the transaction, the insider owned 221,825 shares of the company’s stock, valued at $4,026,123.75. The trade was a 1.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO Jay S. Stout sold 2,805 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $18.15, for a total transaction of $50,910.75. Following the completion of the sale, the chief technology officer directly owned 204,919 shares in the company, valued at approximately $3,719,279.85. The trade was a 1.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,869 shares of company stock valued at $140,384 in the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Immunovant Price Performance

Shares of NASDAQ:IMVT opened at $15.67 on Friday. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -5.50 and a beta of 0.45. The business’s 50 day simple moving average is $15.88 and its 200-day simple moving average is $15.96. Immunovant, Inc. has a 12 month low of $12.72 and a 12 month high of $32.10.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings data on Monday, August 11th. The company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.09. During the same period in the previous year, the company earned ($0.60) earnings per share. On average, equities analysts anticipate that Immunovant, Inc. will post -2.69 earnings per share for the current year.

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.