US Bancorp DE Sells 596 Shares of Immunovant, Inc. (NASDAQ:IMVT)

US Bancorp DE lessened its stake in shares of Immunovant, Inc. (NASDAQ:IMVT) by 26.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,699 shares of the company’s stock after selling 596 shares during the quarter. US Bancorp DE’s holdings in Immunovant were worth $48,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Immunovant by 21.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock worth $148,000 after purchasing an additional 934 shares in the last quarter. DNB Asset Management AS lifted its holdings in Immunovant by 10.3% in the 2nd quarter. DNB Asset Management AS now owns 10,290 shares of the company’s stock worth $271,000 after purchasing an additional 958 shares in the last quarter. Bamco Inc. NY lifted its holdings in shares of Immunovant by 1.7% in the first quarter. Bamco Inc. NY now owns 60,000 shares of the company’s stock worth $1,939,000 after buying an additional 1,000 shares in the last quarter. ProShare Advisors LLC lifted its stake in Immunovant by 9.4% in the 1st quarter. ProShare Advisors LLC now owns 19,877 shares of the company’s stock worth $642,000 after purchasing an additional 1,703 shares in the last quarter. Finally, Quest Partners LLC boosted its stake in Immunovant by 216.7% during the second quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock valued at $69,000 after buying an additional 1,786 shares during the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Insider Activity at Immunovant

In other Immunovant news, CFO Eva Renee Barnett sold 5,162 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $29.56, for a total transaction of $152,588.72. Following the completion of the transaction, the chief financial officer now directly owns 338,614 shares of the company’s stock, valued at approximately $10,009,429.84. This trade represents a 1.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Peter Salzmann sold 4,460 shares of Immunovant stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $29.56, for a total transaction of $131,837.60. Following the sale, the chief executive officer now owns 1,003,884 shares of the company’s stock, valued at approximately $29,674,811.04. The trade was a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,277 shares of company stock valued at $941,919 in the last ninety days. Company insiders own 5.90% of the company’s stock.

Immunovant Price Performance

Immunovant stock opened at $26.63 on Monday. Immunovant, Inc. has a 1-year low of $24.67 and a 1-year high of $45.58. The business has a fifty day moving average price of $29.45 and a 200-day moving average price of $29.01. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of -12.00 and a beta of 0.66.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.15). During the same period last year, the business earned ($0.45) earnings per share. On average, equities research analysts anticipate that Immunovant, Inc. will post -2.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on IMVT. JPMorgan Chase & Co. lowered their price objective on shares of Immunovant from $51.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. UBS Group lowered their target price on shares of Immunovant from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. HC Wainwright reissued a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a research note on Friday, November 8th. Oppenheimer increased their target price on shares of Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Finally, Raymond James reaffirmed an “outperform” rating and set a $36.00 target price on shares of Immunovant in a research report on Thursday, October 10th. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $48.10.

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.