Arizona State Retirement System Has $595,000 Stock Position in Immunovant, Inc. (NASDAQ:IMVT)

Arizona State Retirement System reduced its position in Immunovant, Inc. (NASDAQ:IMVT) by 15.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,128 shares of the company’s stock after selling 2,600 shares during the period. Arizona State Retirement System’s holdings in Immunovant were worth $595,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Comerica Bank acquired a new position in Immunovant in the 3rd quarter worth about $26,000. Ensign Peak Advisors Inc increased its position in Immunovant by 72.6% in the 3rd quarter. Ensign Peak Advisors Inc now owns 6,350 shares of the company’s stock worth $35,000 after purchasing an additional 2,670 shares during the last quarter. UBS Group AG increased its position in Immunovant by 205.7% in the 3rd quarter. UBS Group AG now owns 6,978 shares of the company’s stock worth $39,000 after purchasing an additional 4,695 shares during the last quarter. Barclays PLC increased its position in Immunovant by 2,558.1% in the 2nd quarter. Barclays PLC now owns 2,286 shares of the company’s stock worth $43,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Immunovant by 17.6% in the 2nd quarter. Principal Financial Group Inc. now owns 15,327 shares of the company’s stock worth $60,000 after purchasing an additional 2,293 shares during the last quarter. 47.08% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Immunovant

In other news, CFO Eva Renee Barnett sold 12,253 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $29.06, for a total value of $356,072.18. Following the completion of the transaction, the chief financial officer now directly owns 359,456 shares of the company’s stock, valued at approximately $10,445,791.36. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Peter Salzmann sold 4,807 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $31.18, for a total value of $149,882.26. Following the completion of the transaction, the chief executive officer now directly owns 1,086,958 shares of the company’s stock, valued at approximately $33,891,350.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Eva Renee Barnett sold 12,253 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $29.06, for a total value of $356,072.18. Following the completion of the transaction, the chief financial officer now directly owns 359,456 shares of the company’s stock, valued at $10,445,791.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,087 shares of company stock valued at $2,235,935. Corporate insiders own 4.80% of the company’s stock.

Wall Street Analyst Weigh In

IMVT has been the topic of several research reports. Oppenheimer initiated coverage on Immunovant in a research report on Thursday, March 28th. They issued an “outperform” rating and a $50.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunovant in a research note on Friday, January 12th. JPMorgan Chase & Co. assumed coverage on Immunovant in a research note on Tuesday, February 20th. They set an “overweight” rating and a $51.00 price target for the company. Truist Financial reiterated a “buy” rating and set a $48.00 price target on shares of Immunovant in a research note on Monday, March 25th. Finally, The Goldman Sachs Group assumed coverage on Immunovant in a research note on Wednesday, March 13th. They set a “buy” rating and a $50.00 price target for the company. Seventeen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Immunovant presently has an average rating of “Buy” and a consensus target price of $48.00.

Immunovant Stock Down 0.4 %

Immunovant stock opened at $28.22 on Friday. The business has a 50 day moving average price of $33.00 and a two-hundred day moving average price of $36.05. The stock has a market cap of $4.10 billion, a price-to-earnings ratio of -15.34 and a beta of 0.65. Immunovant, Inc. has a 12 month low of $15.08 and a 12 month high of $45.58.

Immunovant (NASDAQ:IMVT) last issued its earnings results on Monday, February 12th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.07. On average, analysts expect that Immunovant, Inc. will post -1.7 earnings per share for the current fiscal year.

Immunovant Company 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.