UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $4.43 Million Stock Position in Immunovant, Inc. $IMVT

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in Immunovant, Inc. (NASDAQ:IMVT) by 18.8% in the 2nd quarter, Holdings Channel reports. The fund owned 115,102 shares of the company’s stock after selling 26,626 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Immunovant were worth $4,435,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of IMVT. Renaissance Technologies LLC purchased a new stake in shares of Immunovant in the first quarter worth approximately $4,782,000. GSA Capital Partners LLP acquired a new stake in shares of Immunovant during the second quarter worth approximately $2,515,000. Profund Advisors LLC grew its position in Immunovant by 120.4% during the fourth quarter. Profund Advisors LLC now owns 49,076 shares of the company’s stock valued at $1,248,000 after purchasing an additional 26,810 shares in the last quarter. Pictet Asset Management Holding SA grew its position in Immunovant by 24.0% during the first quarter. Pictet Asset Management Holding SA now owns 472,381 shares of the company’s stock valued at $11,734,000 after purchasing an additional 91,539 shares in the last quarter. Finally, Two Seas Capital LP increased its stake in Immunovant by 3.8% in the 4th quarter. Two Seas Capital LP now owns 2,866,962 shares of the company’s stock valued at $72,878,000 after buying an additional 104,922 shares during the period. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IMVT has been the subject of a number of research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunovant in a research report on Tuesday, August 25th. Citigroup upped their price target on shares of Immunovant from $57.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. HC Wainwright increased their price objective on Immunovant from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Immunovant in a research report on Monday, July 6th. Finally, Bank of America boosted their target price on Immunovant from $32.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Immunovant presently has a consensus rating of “Moderate Buy” and an average target price of $44.00.

Immunovant Price Performance

Immunovant stock opened at $38.75 on Thursday. The firm has a market cap of $8.00 billion, a price-to-earnings ratio of -13.74 and a beta of 0.81. Immunovant, Inc. has a fifty-two week low of $14.58 and a fifty-two week high of $45.42. The firm has a fifty day moving average price of $40.49 and a two-hundred day moving average price of $33.15.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.12). The business had revenue of $7.09 million for the quarter, compared to the consensus estimate of $7.09 million. During the same period last year, the business earned ($0.71) EPS. As a group, sell-side analysts expect that Immunovant, Inc. will post -2.96 earnings per share for the current year.

Insider Buying and Selling at Immunovant

In other Immunovant news, insider Christopher Van Tuyl sold 17,824 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $38.31, for a total value of $682,837.44. Following the sale, the insider owned 180,597 shares of the company’s stock, valued at $6,918,671.07. This trade represents a 8.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Jay S. Stout sold 40,000 shares of Immunovant stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $38.31, for a total value of $1,532,400.00. Following the completion of the transaction, the chief technology officer directly owned 211,685 shares in the company, valued at approximately $8,109,652.35. This represents a 15.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 98,359 shares of company stock worth $3,785,493 in the last ninety days. 1.90% of the stock is owned by insiders.

Immunovant Profile

Immunovant Inc is a clinical-stage biopharmaceutical company focused on the development of novel monoclonal antibody therapies that target the neonatal Fc receptor (FcRn) to treat severe autoimmune diseases. By inhibiting FcRn, Immunovant’s approach is designed to reduce levels of pathogenic immunoglobulin G (IgG) antibodies, which play a central role in the pathology of disorders such as myasthenia gravis and immune thrombocytopenia.

The company’s lead asset, efgartigimod, is an engineered Fc fragment that selectively binds to FcRn, accelerating the degradation of circulating IgG.