Immunovant, Inc. (NASDAQ:IMVT) Stock Holdings Reduced by California State Teachers Retirement System

California State Teachers Retirement System lowered its position in Immunovant, Inc. (NASDAQ:IMVT) by 1.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,572 shares of the company’s stock after selling 803 shares during the quarter. California State Teachers Retirement System’s holdings in Immunovant were worth $784,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IMVT. Federated Hermes Inc. lifted its position in shares of Immunovant by 281.2% in the first quarter. Federated Hermes Inc. now owns 1,903,894 shares of the company’s stock worth $10,491,000 after buying an additional 1,404,404 shares during the last quarter. Cowen AND Company LLC acquired a new stake in shares of Immunovant in the fourth quarter worth about $22,188,000. Victory Capital Management Inc. acquired a new stake in shares of Immunovant in the first quarter worth about $10,326,000. Dimensional Fund Advisors LP lifted its position in shares of Immunovant by 148.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 690,965 shares of the company’s stock worth $3,807,000 after purchasing an additional 412,997 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Immunovant by 205.6% during the 1st quarter. JPMorgan Chase & Co. now owns 461,582 shares of the company’s stock worth $2,543,000 after purchasing an additional 310,520 shares during the last quarter. Hedge funds and other institutional investors own 44.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Stifel Nicolaus boosted their price objective on Immunovant from $28.00 to $34.00 and gave the stock a “buy” rating in a research report on Tuesday, July 18th. HC Wainwright reissued a “buy” rating and set a $29.00 price objective on shares of Immunovant in a research report on Friday, August 11th. Chardan Capital reissued a “buy” rating on shares of Immunovant in a research report on Monday, July 10th. Citigroup boosted their price target on Immunovant from $28.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, August 11th. Finally, Truist Financial restated a “buy” rating and set a $30.00 price target on shares of Immunovant in a research note on Wednesday, August 16th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Immunovant has a consensus rating of “Moderate Buy” and an average price target of $27.92.

Immunovant Price Performance

IMVT opened at $23.99 on Monday. The business’s 50-day moving average price is $21.04 and its two-hundred day moving average price is $19.00. Immunovant, Inc. has a 1 year low of $4.26 and a 1 year high of $25.13. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of -12.43 and a beta of 0.90.

Insider Activity at Immunovant

In related news, CEO Peter Salzmann sold 56,774 shares of Immunovant stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $22.02, for a total value of $1,250,163.48. Following the sale, the chief executive officer now owns 969,965 shares of the company’s stock, valued at $21,358,629.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Immunovant news, insider Mark S. Levine sold 3,917 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $21.63, for a total transaction of $84,724.71. Following the transaction, the insider now owns 326,774 shares of the company’s stock, valued at $7,068,121.62. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Peter Salzmann sold 56,774 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $22.02, for a total value of $1,250,163.48. Following the transaction, the chief executive officer now directly owns 969,965 shares in the company, valued at approximately $21,358,629.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 299,614 shares of company stock valued at $6,457,305. 4.80% of the stock is owned by 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 selectively binds to and inhibits the neonatal fragment crystallizable receptor, which is in Phase IIa clinical trials for the treatment of myasthenia gravis and thyroid eye disease, as well as completed initiation of Phase II clinical trials for the treatment of warm autoimmune hemolytic anemia.