Nuveen Asset Management LLC Decreases Holdings in Immunovant, Inc. (NASDAQ:IMVT)

Nuveen Asset Management LLC reduced its position in shares of Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 17.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & 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 about 0.54% of Immunovant worth $22,668,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. T. Rowe Price Investment Management Inc. boosted its holdings in Immunovant by 53.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,117,234 shares of the company's stock valued at $126,754,000 after purchasing an additional 1,786,217 shares during the period. Deep Track Capital LP raised its stake in Immunovant by 38.0% in the fourth quarter. Deep Track Capital LP now owns 6,000,000 shares of the company's stock valued at $148,620,000 after buying an additional 1,652,536 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Immunovant by 405.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,153,338 shares of the company's stock worth $28,568,000 after purchasing an additional 925,081 shares in the last quarter. Two Seas Capital LP increased its position in shares of Immunovant by 123.4% during the fourth quarter. Two Seas Capital LP now owns 1,511,614 shares of the company's stock worth $37,443,000 after purchasing an additional 835,000 shares in the last quarter. Finally, Boxer Capital Management LLC acquired a new stake in shares of Immunovant during the fourth quarter worth about $20,435,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IMVT has been the topic of a number of research analyst reports. Bank of America cut their target price on Immunovant from $38.00 to $33.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. UBS Group reiterated a "neutral" rating and set a $17.00 target price (down previously from $38.00) on shares of Immunovant in a research report on Tuesday, April 22nd. Jefferies Financial Group initiated coverage on Immunovant in a research report on Monday, March 3rd. They set a "hold" rating and a $20.00 target price on the stock. HC Wainwright reiterated a "buy" rating and set a $51.00 target price on shares of Immunovant in a research report on Wednesday, March 19th. Finally, Cantor Fitzgerald upgraded Immunovant to a "strong-buy" rating in a research report on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Immunovant has a consensus rating of "Moderate Buy" and a consensus price target of $38.33.

Immunovant Stock Up 5.0%

IMVT stock traded up $0.70 during trading on Thursday, hitting $14.80. The company had a trading volume of 333,419 shares, compared to its average volume of 1,539,089. The firm has a market cap of $2.51 billion, a PE ratio of -5.66 and a beta of 0.75. Immunovant, Inc. has a 1-year low of $12.72 and a 1-year high of $34.47. The firm has a 50-day moving average price of $15.15 and a 200-day moving average price of $20.71.

Immunovant (NASDAQ:IMVT - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The company reported ($0.64) earnings per share for the quarter, beating analysts' consensus estimates of ($0.72) by $0.08. During the same period in the previous year, the business posted ($0.52) earnings per share. Sell-side analysts anticipate that Immunovant, Inc. will post -2.69 earnings per share for the current year.

Insider Buying and Selling at Immunovant

In other Immunovant news, CTO Jay S. Stout sold 1,925 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 value of $28,470.75. Following the sale, the chief technology officer now owns 209,243 shares of the company's stock, valued at approximately $3,094,703.97. The trade was a 0.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Geffner sold 2,349 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $14.79, for a total value of $34,741.71. Following the sale, the insider now directly owns 225,370 shares in the company, valued at $3,333,222.30. This trade represents a 1.03% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,682 shares of company stock valued at $753,419. 5.90% of the stock is owned by corporate 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.