Goldman Sachs Group Inc. Sells 52,309 Shares of Immunovant, Inc. (NASDAQ:IMVT)

Goldman Sachs Group Inc. lowered its position in shares of Immunovant, Inc. (NASDAQ:IMVT) by 10.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 458,131 shares of the company’s stock after selling 52,309 shares during the quarter. Goldman Sachs Group Inc. owned about 0.32% of Immunovant worth $19,301,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of IMVT. Boxer Capital LLC boosted its position in shares of Immunovant by 33.3% during the 4th quarter. Boxer Capital LLC now owns 1,000,000 shares of the company’s stock valued at $42,130,000 after purchasing an additional 250,000 shares in the last quarter. WCM Investment Management LLC acquired a new stake in shares of Immunovant during the 4th quarter worth approximately $4,548,000. Allspring Global Investments Holdings LLC increased its stake in shares of Immunovant by 590.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 42,865 shares of the company’s stock valued at $1,806,000 after acquiring an additional 36,659 shares in the last quarter. ADAR1 Capital Management LLC acquired a new position in shares of Immunovant during the 4th quarter valued at $5,651,000. Finally, Russell Investments Group Ltd. boosted its stake in Immunovant by 337.0% during the fourth quarter. Russell Investments Group Ltd. now owns 176,901 shares of the company’s stock worth $7,453,000 after acquiring an additional 136,418 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Immunovant Stock Down 4.5 %

IMVT stock opened at $26.06 on Thursday. The firm has a market cap of $3.81 billion, a PE ratio of -13.72 and a beta of 0.67. The business has a 50 day moving average of $27.99 and a 200-day moving average of $33.62. Immunovant, Inc. has a 12-month low of $18.16 and a 12-month high of $45.58.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings data on Wednesday, May 29th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.08). During the same quarter in the previous year, the company posted ($0.46) earnings per share. On average, research analysts expect that Immunovant, Inc. will post -2.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IMVT. Oppenheimer dropped their price objective on shares of Immunovant from $50.00 to $46.00 and set an “outperform” rating on the stock in a report on Monday, June 3rd. The Goldman Sachs Group began coverage on Immunovant in a report on Wednesday, March 13th. They issued a “buy” rating and a $50.00 price target on the stock. HC Wainwright restated a “buy” rating and set a $51.00 price objective on shares of Immunovant in a report on Thursday, May 30th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunovant in a report on Tuesday, June 18th. Finally, Truist Financial restated a “buy” rating and set a $48.00 price target on shares of Immunovant in a research note on Monday, March 25th. Seventeen analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $48.75.

Insider Activity at Immunovant

In other Immunovant news, CFO Eva Renee Barnett sold 4,042 shares of Immunovant stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $29.65, for a total value of $119,845.30. Following the sale, the chief financial officer now owns 355,414 shares of the company’s stock, valued at $10,538,025.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Peter Salzmann sold 4,807 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 1,086,958 shares of the company’s stock, valued at approximately $33,891,350.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Eva Renee Barnett sold 4,042 shares of Immunovant stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $29.65, for a total value of $119,845.30. Following the completion of the sale, the chief financial officer now directly owns 355,414 shares of the company’s stock, valued at approximately $10,538,025.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 99,948 shares of company stock worth $2,936,889. 4.80% of the stock is owned by company 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.