Immunovant, Inc. (NASDAQ:IMVT) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. trimmed its holdings in shares of Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 99.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,979 shares of the company's stock after selling 356,609 shares during the quarter. Federated Hermes Inc.'s holdings in Immunovant were worth $126,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of IMVT. WCM Investment Management LLC bought a new stake in Immunovant during the fourth quarter worth about $4,548,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Immunovant by 590.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 42,865 shares of the company's stock worth $1,806,000 after acquiring an additional 36,659 shares during the period. AWM Investment Company Inc. acquired a new stake in shares of Immunovant during the 3rd quarter worth approximately $1,920,000. Wellington Management Group LLP bought a new position in Immunovant in the third quarter valued at approximately $6,473,000. Finally, Citigroup Inc. raised its position in Immunovant by 43.3% during the third quarter. Citigroup Inc. now owns 126,316 shares of the company's stock valued at $4,849,000 after purchasing an additional 38,179 shares in the last quarter. Institutional investors and hedge funds own 47.08% of the company's stock.

Immunovant Stock Performance

Shares of Immunovant stock traded down $0.09 during trading hours on Tuesday, reaching $29.58. The company's stock had a trading volume of 588,646 shares, compared to its average volume of 1,204,790. The stock's fifty day simple moving average is $31.07 and its two-hundred day simple moving average is $35.43. The company has a market capitalization of $4.30 billion, a P/E ratio of -16.12 and a beta of 0.70. Immunovant, Inc. has a one year low of $17.53 and a one year high of $45.58.

Immunovant (NASDAQ:IMVT - Get Free Report) last issued its quarterly earnings results on Monday, February 12th. The company reported ($0.36) earnings per share for the quarter, topping analysts' consensus estimates of ($0.43) by $0.07. As a group, research analysts forecast that Immunovant, Inc. will post -1.7 earnings per share for the current year.

Insiders Place Their Bets

In other Immunovant news, insider Michael Geffner sold 3,261 shares of Immunovant stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $28.90, for a total transaction of $94,242.90. Following the completion of the sale, the insider now directly owns 141,616 shares in the company, valued at $4,092,702.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Immunovant news, insider Mark S. Levine sold 2,134 shares of the business's stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $36.15, for a total value of $77,144.10. Following the completion of the sale, the insider now owns 301,968 shares in the company, valued at $10,916,143.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Geffner sold 3,261 shares of the business's stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $28.90, for a total transaction of $94,242.90. Following the completion of the transaction, the insider now owns 141,616 shares in the company, valued at approximately $4,092,702.40. The disclosure for this sale can be found here. Insiders have sold 81,560 shares of company stock worth $2,424,601 in the last ninety days. 4.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Oppenheimer started coverage on Immunovant in a research report on Thursday, March 28th. They issued an "outperform" rating and a $50.00 target price on the stock. Wolfe Research began coverage on shares of Immunovant in a research note on Thursday, February 15th. They issued an "outperform" rating and a $55.00 price objective for the company. The Goldman Sachs Group started coverage on shares of Immunovant in a research report on Wednesday, March 13th. They issued a "buy" rating and a $50.00 target price on the stock. JPMorgan Chase & Co. initiated coverage on Immunovant in a report on Tuesday, February 20th. They set an "overweight" rating and a $51.00 price objective on the stock. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Immunovant in a research report on Friday, January 12th. Seventeen research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $48.00.

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.