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

Ensign Peak Advisors Inc lessened its stake in Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 87.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,706 shares of the company's stock after selling 138,915 shares during the quarter. Ensign Peak Advisors Inc's holdings in Immunovant were worth $488,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

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

Immunovant Stock Down 1.0%

NASDAQ:IMVT traded down $0.14 during mid-day trading on Thursday, hitting $14.27. 97,936 shares of the stock traded hands, compared to its average volume of 1,219,057. The business's 50-day moving average price is $15.65 and its 200 day moving average price is $21.26. The company has a market cap of $2.42 billion, a PE ratio of -5.44 and a beta of 0.75. Immunovant, Inc. has a 12-month low of $12.72 and a 12-month high of $34.47.

Insider Transactions at Immunovant

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

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.