Ensign Peak Advisors Inc Trims Stock Position in Immunovant, Inc. (NASDAQ:IMVT)

Ensign Peak Advisors Inc lessened its stake in Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 87.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,706 shares of the company's stock after selling 138,915 shares during the period. Ensign Peak Advisors Inc's holdings in Immunovant were worth $488,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IMVT. KBC Group NV increased its position in shares of Immunovant by 60.1% during the fourth quarter. KBC Group NV now owns 3,099 shares of the company's stock worth $77,000 after acquiring an additional 1,163 shares during the period. Rhumbline Advisers grew its stake in Immunovant by 1.5% in the fourth quarter. Rhumbline Advisers now owns 80,932 shares of the company's stock worth $2,005,000 after purchasing an additional 1,188 shares in the last quarter. Swiss National Bank increased its holdings in Immunovant by 1.2% during the 4th quarter. Swiss National Bank now owns 100,800 shares of the company's stock worth $2,497,000 after purchasing an additional 1,200 shares during the period. Sei Investments Co. increased its holdings in Immunovant by 4.0% during the 4th quarter. Sei Investments Co. now owns 40,456 shares of the company's stock worth $1,002,000 after purchasing an additional 1,541 shares during the period. Finally, MetLife Investment Management LLC raised its position in Immunovant by 6.1% during the 4th quarter. MetLife Investment Management LLC now owns 35,648 shares of the company's stock valued at $883,000 after purchasing an additional 2,040 shares in the last quarter. Institutional investors own 47.08% of the company's stock.

Insider Buying and Selling

In related news, insider Michael Geffner sold 2,349 shares of Immunovant stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $14.79, for a total transaction of $34,741.71. Following the transaction, the insider now owns 225,370 shares in the company, valued at approximately $3,333,222.30. This trade represents a 1.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Jay S. Stout sold 1,925 shares of the business's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $14.79, for a total value of $28,470.75. Following the transaction, the chief technology officer now directly owns 209,243 shares in the company, valued at $3,094,703.97. This trade represents a 0.91% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,682 shares of company stock worth $753,419. 5.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IMVT. Jefferies Financial Group initiated coverage on shares of Immunovant in a report on Monday, March 3rd. They set a "hold" rating and a $20.00 price objective on the stock. Bank of America lowered their price objective on shares of Immunovant from $38.00 to $33.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. HC Wainwright reiterated a "buy" rating and issued a $51.00 price target on shares of Immunovant in a report on Wednesday, March 19th. Guggenheim reissued a "buy" rating on shares of Immunovant in a report on Thursday, March 20th. Finally, UBS Group restated a "neutral" rating and set a $17.00 price target (down previously from $38.00) on shares of Immunovant in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $38.33.

Immunovant Stock Up 2.0%

Shares of NASDAQ IMVT traded up $0.30 during midday trading on Tuesday, hitting $15.00. The stock had a trading volume of 830,358 shares, compared to its average volume of 1,218,357. The stock has a 50 day simple moving average of $15.83 and a 200-day simple moving average of $21.35. The company has a market capitalization of $2.55 billion, a PE ratio of -5.73 and a beta of 0.75. Immunovant, Inc. has a 1 year low of $12.72 and a 1 year high of $34.47.

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.