Affinity Asset Advisors LLC Sells 203,000 Shares of Immunovant, Inc. (NASDAQ:IMVT)

Affinity Asset Advisors LLC trimmed its position in shares of Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 67.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,000 shares of the company's stock after selling 203,000 shares during the quarter. Affinity Asset Advisors LLC owned 0.06% of Immunovant worth $2,477,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of IMVT. KBC Group NV lifted its position in shares of Immunovant by 60.1% during the 4th quarter. KBC Group NV now owns 3,099 shares of the company's stock worth $77,000 after purchasing an additional 1,163 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Immunovant in the 4th quarter valued at approximately $268,000. Aigen Investment Management LP acquired a new stake in shares of Immunovant during the 4th quarter valued at approximately $270,000. Teacher Retirement System of Texas increased its stake in shares of Immunovant by 18.5% during the 4th quarter. Teacher Retirement System of Texas now owns 15,203 shares of the company's stock worth $377,000 after purchasing an additional 2,373 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Immunovant during the fourth quarter worth $505,000. 47.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Michael Geffner sold 2,657 shares of the business's stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $23.59, for a total transaction of $62,678.63. Following the completion of the sale, the insider now directly owns 132,314 shares of the company's stock, valued at $3,121,287.26. The trade was a 1.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Eva Renee Barnett sold 2,993 shares of Immunovant stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $14.89, for a total value of $44,565.77. Following the transaction, the chief financial officer now directly owns 396,774 shares in the company, valued at approximately $5,907,964.86. The trade was a 0.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,260 shares of company stock worth $804,665 in the last three months. 5.90% of the stock is owned by corporate insiders.

Immunovant Stock Up 2.1 %

Shares of NASDAQ:IMVT traded up $0.31 during midday trading on Friday, reaching $15.15. The company had a trading volume of 1,040,222 shares, compared to its average volume of 1,189,778. The business's 50 day moving average price is $18.05 and its 200 day moving average price is $23.60. Immunovant, Inc. has a 1-year low of $12.72 and a 1-year high of $34.47. The stock has a market cap of $2.57 billion, a PE ratio of -5.78 and a beta of 0.81.

Immunovant (NASDAQ:IMVT - Get Free Report) last issued its earnings results on Monday, February 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.08). On average, research analysts expect that Immunovant, Inc. will post -2.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. HC Wainwright reaffirmed a "buy" rating and issued a $51.00 price objective on shares of Immunovant in a research report on Wednesday, March 19th. Cantor Fitzgerald upgraded shares of Immunovant to a "strong-buy" rating in a report on Tuesday, March 4th. Bank of America cut their target price on shares of Immunovant from $38.00 to $33.00 and set a "buy" rating on the stock in a research note on Thursday, March 20th. Jefferies Financial Group started coverage on Immunovant in a research note on Monday, March 3rd. They issued a "hold" rating and a $20.00 price target for the company. Finally, Guggenheim reaffirmed a "buy" rating on shares of Immunovant in a report on Thursday, March 20th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $41.00.

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.