KLP Kapitalforvaltning AS Sells 4,200 Shares of Immunovant, Inc. $IMVT

KLP Kapitalforvaltning AS decreased its position in shares of Immunovant, Inc. (NASDAQ:IMVT) by 22.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,500 shares of the company’s stock after selling 4,200 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Immunovant were worth $232,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Strs Ohio bought a new stake in Immunovant in the first quarter valued at approximately $27,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Immunovant in the first quarter valued at approximately $37,000. Farther Finance Advisors LLC increased its stake in Immunovant by 142,750.0% in the second quarter. Farther Finance Advisors LLC now owns 2,857 shares of the company’s stock valued at $46,000 after purchasing an additional 2,855 shares in the last quarter. Headlands Technologies LLC bought a new stake in Immunovant in the first quarter valued at approximately $51,000. Finally, Covestor Ltd increased its stake in Immunovant by 187.5% in the first quarter. Covestor Ltd now owns 3,764 shares of the company’s stock valued at $64,000 after purchasing an additional 2,455 shares in the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

Insider Activity at Immunovant

In related news, CTO Jay S. Stout sold 2,805 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $18.15, for a total transaction of $50,910.75. Following the completion of the transaction, the chief technology officer directly owned 204,919 shares of the company’s stock, valued at approximately $3,719,279.85. This represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael Geffner sold 2,385 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $18.15, for a total value of $43,287.75. Following the transaction, the insider directly owned 221,825 shares of the company’s stock, valued at $4,026,123.75. This trade represents a 1.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,047 shares of company stock valued at $140,768 over the last three months. Insiders own 1.80% of the company’s stock.

Immunovant Price Performance

IMVT stock opened at $19.22 on Tuesday. The stock has a market capitalization of $3.35 billion, a P/E ratio of -6.74 and a beta of 0.48. The business has a 50-day moving average of $15.98 and a 200-day moving average of $15.78. Immunovant, Inc. has a fifty-two week low of $12.72 and a fifty-two week high of $32.10.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.09. During the same period last year, the firm earned ($0.60) EPS. Equities analysts expect that Immunovant, Inc. will post -2.69 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on IMVT shares. HC Wainwright reissued a “buy” rating and issued a $35.00 target price on shares of Immunovant in a research note on Thursday, September 4th. Bank of America decreased their target price on Immunovant from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, August 12th. JPMorgan Chase & Co. decreased their target price on Immunovant from $37.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, September 30th. UBS Group boosted their target price on Immunovant from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, July 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Immunovant in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Immunovant has an average rating of “Moderate Buy” and a consensus target price of $28.78.

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.