Price T Rowe Associates Inc. MD lowered its position in shares of Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 24.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 916,250 shares of the company's stock after selling 292,796 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.54% of Immunovant worth $22,696,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. KBC Group NV lifted its position 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 acquiring an additional 1,163 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Immunovant during the fourth quarter worth about $268,000. Aigen Investment Management LP acquired a new stake in Immunovant in the 4th quarter valued at approximately $270,000. CANADA LIFE ASSURANCE Co lifted its stake in Immunovant by 138.4% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 14,276 shares of the company's stock valued at $353,000 after acquiring an additional 8,289 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its position in Immunovant by 18.5% during the 4th quarter. Teacher Retirement System of Texas now owns 15,203 shares of the company's stock worth $377,000 after acquiring an additional 2,373 shares during the last quarter. Institutional investors and hedge funds own 47.08% of the company's stock.
Immunovant Stock Up 0.5 %
Shares of Immunovant stock traded up $0.07 on Wednesday, hitting $13.91. The stock had a trading volume of 263,249 shares, compared to its average volume of 1,203,137. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of -5.28 and a beta of 0.75. Immunovant, Inc. has a twelve month low of $12.72 and a twelve month high of $34.47. The business's 50 day moving average is $16.79 and its two-hundred day moving average is $22.39.
Immunovant (NASDAQ:IMVT - Get Free Report) last announced its earnings results on Monday, February 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.08). As a group, equities analysts predict that Immunovant, Inc. will post -2.69 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, insider Michael Geffner sold 2,349 shares of the stock in a transaction 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 sale, the insider now directly owns 225,370 shares of the company's stock, valued at approximately $3,333,222.30. This represents a 1.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Peter Salzmann sold 28,094 shares of the business's stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $12.99, for a total value of $364,941.06. Following the completion of the transaction, the chief executive officer now directly owns 1,186,512 shares of the company's stock, valued at approximately $15,412,790.88. This trade represents a 2.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,682 shares of company stock worth $753,419 in the last quarter. Corporate insiders own 5.90% of the company's stock.
Analyst Ratings Changes
A number of analysts have recently commented on the stock. Cantor Fitzgerald raised shares of Immunovant to a "strong-buy" rating in a research report on Tuesday, March 4th. Guggenheim reissued a "buy" rating on shares of Immunovant in a research report on Thursday, March 20th. Bank of America decreased their price objective on Immunovant from $38.00 to $33.00 and set a "buy" rating for the company in a report on Thursday, March 20th. Jefferies Financial Group started coverage on shares of Immunovant in a report on Monday, March 3rd. They set a "hold" rating and a $20.00 target price on the stock. Finally, 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 report on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Immunovant presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.33.
Check Out Our Latest Report on IMVT
Immunovant Profile
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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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