Nuveen Asset Management LLC decreased its position in shares of Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 17.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 915,151 shares of the company's stock after selling 189,759 shares during the period. Nuveen Asset Management LLC owned 0.54% of Immunovant worth $22,668,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. KBC Group NV raised its stake in 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 acquiring an additional 1,163 shares during the period. Rhumbline Advisers raised its stake in 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 acquiring an additional 1,188 shares during the period. Swiss National Bank raised its stake 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 acquiring an additional 1,200 shares during the period. Sei Investments Co. raised its stake 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 acquiring an additional 1,541 shares during the period. Finally, MetLife Investment Management LLC raised its stake in Immunovant by 6.1% during the 4th quarter. MetLife Investment Management LLC now owns 35,648 shares of the company's stock worth $883,000 after acquiring an additional 2,040 shares during the period. Institutional investors own 47.08% of the company's stock.
Insider Buying and Selling
In related news, Director Andrew J. Fromkin sold 8,000 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $19.60, for a total value of $156,800.00. Following the sale, the director now owns 91,913 shares in the company, valued at approximately $1,801,494.80. The trade was a 8.01% 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, CEO Peter Salzmann sold 28,094 shares of the business's stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $12.99, for a total transaction of $364,941.06. Following the completion of the sale, the chief executive officer now owns 1,186,512 shares in the company, valued at $15,412,790.88. This represents a 2.31% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,682 shares of company stock worth $753,419. Insiders own 5.90% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have commented on IMVT shares. Guggenheim restated a "buy" rating on shares of Immunovant in a research note on Thursday, March 20th. Cantor Fitzgerald upgraded shares of Immunovant to a "strong-buy" rating in a research note on Tuesday, March 4th. Jefferies Financial Group initiated coverage on shares of Immunovant in a report on Monday, March 3rd. They issued a "hold" rating and a $20.00 target price on the stock. HC Wainwright restated a "buy" rating and set a $51.00 target price on shares of Immunovant in a research report on Wednesday, March 19th. Finally, Bank of America cut their target price 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. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Immunovant presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.33.
View Our Latest Analysis on Immunovant
Immunovant Trading Down 1.2%
IMVT traded down $0.17 during trading hours on Tuesday, hitting $14.29. The company's stock had a trading volume of 1,241,801 shares, compared to its average volume of 1,224,318. The business's 50-day moving average price is $15.37 and its 200-day moving average price is $20.80. Immunovant, Inc. has a 12 month low of $12.72 and a 12 month high of $34.47. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of -5.45 and a beta of 0.75.
About Immunovant
(
Free Report)
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.
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