Immunovant, Inc. (NASDAQ:IMVT) Shares Sold by Arizona State Retirement System

Arizona State Retirement System reduced its position in Immunovant, Inc. (NASDAQ:IMVT) by 15.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,128 shares of the company’s stock after selling 2,600 shares during the quarter. Arizona State Retirement System’s holdings in Immunovant were worth $595,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Comerica Bank acquired a new position in Immunovant in the 3rd quarter valued at about $26,000. Ensign Peak Advisors Inc grew its position in Immunovant by 72.6% in the 3rd quarter. Ensign Peak Advisors Inc now owns 6,350 shares of the company’s stock valued at $35,000 after acquiring an additional 2,670 shares in the last quarter. UBS Group AG grew its position in shares of Immunovant by 205.7% during the third quarter. UBS Group AG now owns 6,978 shares of the company’s stock worth $39,000 after buying an additional 4,695 shares in the last quarter. Barclays PLC grew its position in shares of Immunovant by 2,558.1% during the second quarter. Barclays PLC now owns 2,286 shares of the company’s stock worth $43,000 after buying an additional 2,200 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Immunovant by 17.6% during the second quarter. Principal Financial Group Inc. now owns 15,327 shares of the company’s stock worth $60,000 after buying an additional 2,293 shares in the last quarter. 47.08% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Immunovant

In other news, CEO Peter Salzmann sold 4,807 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $31.18, for a total transaction of $149,882.26. Following the completion of the sale, the chief executive officer now owns 1,086,958 shares in the company, valued at $33,891,350.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Peter Salzmann sold 4,807 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $31.18, for a total transaction of $149,882.26. Following the completion of the sale, the chief executive officer now owns 1,086,958 shares in the company, valued at $33,891,350.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark S. Levine sold 3,027 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $37.92, for a total value of $114,783.84. Following the sale, the insider now owns 304,102 shares of the company’s stock, valued at approximately $11,531,547.84. The disclosure for this sale can be found here. Insiders sold 74,087 shares of company stock worth $2,235,935 over the last 90 days. 4.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on IMVT shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunovant in a research report on Friday, January 12th. Truist Financial reissued a “buy” rating and set a $48.00 price objective on shares of Immunovant in a research report on Monday, March 25th. JPMorgan Chase & Co. started coverage on Immunovant in a research report on Tuesday, February 20th. They set an “overweight” rating and a $51.00 price objective for the company. Oppenheimer initiated coverage on Immunovant in a research report on Thursday, March 28th. They set an “outperform” rating and a $50.00 price objective for the company. Finally, The Goldman Sachs Group initiated coverage on Immunovant in a research note on Wednesday, March 13th. They set a “buy” rating and a $50.00 target price for the company. Seventeen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $48.00.

Immunovant Trading Down 0.4 %

Shares of NASDAQ IMVT opened at $28.22 on Friday. Immunovant, Inc. has a twelve month low of $15.08 and a twelve month high of $45.58. The stock has a 50 day moving average of $33.00 and a two-hundred day moving average of $36.05. The stock has a market cap of $4.10 billion, a P/E ratio of -15.34 and a beta of 0.65.

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

About Immunovant

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.