UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Holdings in Immunovant, Inc. (NASDAQ:IMVT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its holdings in shares of Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 10.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 279,252 shares of the company's stock after selling 31,578 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.16% of Immunovant worth $6,917,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. KBC Group NV raised its stake in shares of Immunovant by 60.1% during the fourth quarter. KBC Group NV now owns 3,099 shares of the company's stock valued at $77,000 after acquiring an additional 1,163 shares during the last quarter. Rhumbline Advisers raised its stake in Immunovant by 1.5% during the fourth quarter. Rhumbline Advisers now owns 80,932 shares of the company's stock worth $2,005,000 after buying an additional 1,188 shares during the last quarter. Swiss National Bank raised its stake in Immunovant by 1.2% during the fourth quarter. Swiss National Bank now owns 100,800 shares of the company's stock worth $2,497,000 after buying an additional 1,200 shares during the last quarter. Sei Investments Co. raised its stake in 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 stake in Immunovant by 6.1% during the fourth quarter. MetLife Investment Management LLC now owns 35,648 shares of the company's stock worth $883,000 after buying an additional 2,040 shares during the last quarter. Institutional investors own 47.08% of the company's stock.

Insider Transactions at Immunovant

In related news, Director Andrew J. Fromkin sold 8,000 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $19.60, for a total transaction of $156,800.00. Following the transaction, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Geffner sold 2,349 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 $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 disclosure for this sale can be found here. Insiders sold a total of 51,682 shares of company stock valued at $753,419 over the last three months. Corporate insiders own 5.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on IMVT shares. Guggenheim reissued a "buy" rating on shares of Immunovant in a research note on Thursday, March 20th. UBS Group reissued a "neutral" rating and set a $17.00 target price (down previously from $38.00) on shares of Immunovant in a research note on Tuesday, April 22nd. Cantor Fitzgerald raised shares of Immunovant to a "strong-buy" rating in a research note on Tuesday, March 4th. HC Wainwright reissued a "buy" rating and set a $51.00 target price on shares of Immunovant in a research note on Wednesday, March 19th. Finally, Bank of America lowered 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 research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Immunovant currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.33.

Immunovant Price Performance

Shares of NASDAQ:IMVT traded up $0.68 during midday trading on Thursday, hitting $16.02. 1,885,615 shares of the company's stock were exchanged, compared to its average volume of 1,198,220. The stock has a 50 day moving average price of $14.79 and a 200-day moving average price of $20.17. The company has a market cap of $2.74 billion, a PE ratio of -6.11 and a beta of 0.61. Immunovant, Inc. has a 12 month low of $12.72 and a 12 month high of $34.47.

Immunovant (NASDAQ:IMVT - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported ($0.64) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.08. The business had revenue of $0.16 million for the quarter. During the same period in the previous year, the firm posted ($0.52) earnings per share. On average, analysts anticipate that Immunovant, Inc. will post -2.69 EPS for the current fiscal year.

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.