New York Life Investment Management LLC Lowers Stock Position in Immunovant, Inc. (NASDAQ:IMVT)

New York Life Investment Management LLC trimmed its holdings in shares of Immunovant, Inc. (NASDAQ:IMVT) by 2.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,438 shares of the company’s stock after selling 482 shares during the quarter. New York Life Investment Management LLC’s holdings in Immunovant were worth $945,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System boosted its position in Immunovant by 3.0% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 15,774 shares of the company’s stock valued at $606,000 after acquiring an additional 460 shares in the last quarter. Alps Advisors Inc. boosted its position in Immunovant by 0.6% during the third quarter. Alps Advisors Inc. now owns 96,434 shares of the company’s stock valued at $3,702,000 after purchasing an additional 578 shares in the last quarter. Headlands Technologies LLC bought a new stake in Immunovant during the fourth quarter valued at about $27,000. CoreCap Advisors LLC grew its stake in Immunovant by 11.2% in the fourth quarter. CoreCap Advisors LLC now owns 6,407 shares of the company’s stock valued at $270,000 after purchasing an additional 647 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Immunovant by 10.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,370 shares of the company’s stock worth $437,000 after purchasing an additional 951 shares in the last quarter. Institutional investors own 47.08% of the company’s stock.

Insider Buying and Selling

In other Immunovant 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 value of $94,242.90. Following the sale, the insider now directly owns 141,616 shares of the company’s stock, valued at $4,092,702.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Immunovant news, insider Michael Geffner sold 3,261 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $28.90, for a total value of $94,242.90. Following the completion of the transaction, the insider now directly owns 141,616 shares of the company’s stock, valued at $4,092,702.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Eva Renee Barnett sold 2,930 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $36.15, for a total value of $105,919.50. Following the completion of the sale, the chief financial officer now owns 320,420 shares in the company, valued at approximately $11,583,183. The disclosure for this sale can be found here. Insiders sold a total of 81,560 shares of company stock valued at $2,424,601 over the last 90 days. Insiders own 4.80% of the company’s stock.

Immunovant Stock Down 0.3 %

Shares of NASDAQ:IMVT opened at $29.58 on Wednesday. Immunovant, Inc. has a 52-week low of $17.53 and a 52-week high of $45.58. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of -16.08 and a beta of 0.70. The business has a 50-day moving average price of $30.89 and a 200-day moving average price of $35.39.

Immunovant (NASDAQ:IMVT) last posted its quarterly 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. As a group, equities analysts anticipate that Immunovant, Inc. will post -1.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on IMVT shares. JPMorgan Chase & Co. started coverage on shares of Immunovant in a report on Tuesday, February 20th. They issued an “overweight” rating and a $51.00 price target on the stock. Truist Financial restated a “buy” rating and issued a $48.00 target price on shares of Immunovant in a research note on Monday, March 25th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a research report on Friday, January 12th. Wolfe Research initiated coverage on Immunovant in a report on Thursday, February 15th. They set an “outperform” rating and a $55.00 price objective for the company. Finally, Oppenheimer initiated coverage on Immunovant in a research note on Thursday, March 28th. They set an “outperform” rating and a $50.00 target price on the stock. Seventeen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Immunovant currently has a consensus rating of “Buy” and an average target price of $48.00.

Immunovant 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.