Strs Ohio Sells 15,500 Shares of Immunovant, Inc. (NASDAQ:IMVT)

Strs Ohio trimmed its holdings in shares of Immunovant, Inc. (NASDAQ:IMVT) by 46.0% in the fourth quarter, HoldingsChannel reports. The firm owned 18,200 shares of the company’s stock after selling 15,500 shares during the period. Strs Ohio’s holdings in Immunovant were worth $766,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. FMR LLC increased its holdings in Immunovant by 47.5% during the 3rd quarter. FMR LLC now owns 7,748,546 shares of the company’s stock valued at $297,467,000 after purchasing an additional 2,494,678 shares in the last quarter. Vanguard Group Inc. increased its holdings in Immunovant by 14.0% during the 3rd quarter. Vanguard Group Inc. now owns 6,233,146 shares of the company’s stock valued at $239,290,000 after purchasing an additional 764,530 shares in the last quarter. Fred Alger Management LLC increased its stake in shares of Immunovant by 6,108.9% in the 3rd quarter. Fred Alger Management LLC now owns 1,186,031 shares of the company’s stock valued at $45,532,000 after buying an additional 1,166,929 shares during the period. Armistice Capital LLC acquired a new stake in shares of Immunovant in the 3rd quarter valued at $39,767,000. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in shares of Immunovant by 30.9% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 681,935 shares of the company’s stock valued at $26,179,000 after buying an additional 160,851 shares during the period. 47.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on IMVT. Oppenheimer began coverage on Immunovant in a research note on Thursday, March 28th. They issued an “outperform” rating and a $50.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunovant in a research note on Friday, January 12th. JPMorgan Chase & Co. started coverage on Immunovant in a research report on Tuesday, February 20th. They issued an “overweight” rating and a $51.00 price target on the stock. Wolfe Research started coverage on Immunovant in a research report on Thursday, February 15th. They issued an “outperform” rating and a $55.00 price target on the stock. Finally, The Goldman Sachs Group started coverage on Immunovant in a research report on Wednesday, March 13th. They issued a “buy” rating and a $50.00 price target on the stock. Seventeen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $48.00.

Immunovant Price Performance

IMVT opened at $28.80 on Thursday. The business’s 50-day moving average price is $32.50 and its two-hundred day moving average price is $35.92. Immunovant, Inc. has a 1 year low of $15.90 and a 1 year high of $45.58. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of -15.65 and a beta of 0.65.

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

Insider Transactions at Immunovant

In related news, insider Julia G. Butchko sold 1,053 shares of the business’s 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 $32,832.54. Following the completion of the sale, the insider now directly owns 461,742 shares in the company, valued at $14,397,115.56. The sale was disclosed in a filing with the SEC, which is available at this link. In other Immunovant news, insider Julia G. Butchko sold 1,053 shares of the company’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $31.18, for a total transaction of $32,832.54. Following the completion of the sale, the insider now directly owns 461,742 shares in the company, valued at $14,397,115.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Peter Salzmann sold 4,807 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 1,086,958 shares of the company’s stock, valued at $33,891,350.44. The disclosure for this sale can be found here. Insiders sold a total of 74,087 shares of company stock worth $2,235,935 over the last quarter. Company insiders own 4.80% of the company’s stock.

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.