Immunovant, Inc. (NASDAQ:IMVT) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its position in shares of Immunovant, Inc. (NASDAQ:IMVT) by 99.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,979 shares of the company’s stock after selling 356,609 shares during the quarter. Federated Hermes Inc.’s holdings in Immunovant were worth $126,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. increased its position in shares of Immunovant by 96.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 3,360 shares of the company’s stock valued at $129,000 after buying an additional 1,651 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in Immunovant during the 3rd quarter valued at about $230,000. Allspring Global Investments Holdings LLC raised its position in Immunovant by 56.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,206 shares of the company’s stock worth $238,000 after acquiring an additional 2,228 shares during the last quarter. Bailard Inc. purchased a new stake in shares of Immunovant in the third quarter valued at about $242,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Immunovant in the third quarter valued at approximately $257,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Michael Geffner sold 3,261 shares of the company’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $28.90, for a total transaction of $94,242.90. Following the completion of the sale, the insider now directly owns 141,616 shares of the company’s stock, valued at approximately $4,092,702.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CTO Jay S. Stout sold 7,239 shares of Immunovant stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $28.90, for a total transaction of $209,207.10. Following the sale, the chief technology officer now owns 147,739 shares in the company, valued at $4,269,657.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Geffner sold 3,261 shares of the business’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $28.90, for a total transaction of $94,242.90. Following the transaction, the insider now directly owns 141,616 shares in the company, valued at $4,092,702.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,560 shares of company stock valued at $2,424,601. Company insiders own 4.80% of the company’s stock.

Immunovant Price Performance

Immunovant stock opened at $29.67 on Tuesday. Immunovant, Inc. has a 12 month low of $17.53 and a 12 month high of $45.58. The company has a market cap of $4.31 billion, a price-to-earnings ratio of -16.12 and a beta of 0.70. The stock’s 50-day moving average is $31.07 and its 200-day moving average is $35.43.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings results on Monday, February 12th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.07. Research analysts anticipate that Immunovant, Inc. will post -1.7 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on IMVT. Oppenheimer began coverage on Immunovant in a research report on Thursday, March 28th. They set an “outperform” rating and a $50.00 price objective for the company. Wolfe Research assumed coverage on Immunovant in a research note on Thursday, February 15th. They set an “outperform” rating and a $55.00 price objective on the stock. The Goldman Sachs Group assumed coverage on shares of Immunovant in a research note on Wednesday, March 13th. They issued a “buy” rating and a $50.00 target price for the company. JPMorgan Chase & Co. started coverage on shares of Immunovant in a research note on Tuesday, February 20th. They set an “overweight” rating and a $51.00 price target on the stock. Finally, Truist Financial reissued a “buy” rating and issued a $48.00 price objective on shares of Immunovant in a research report on Monday, March 25th. Seventeen analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $48.00.

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.