Immunovant, Inc. (NASDAQ:IMVT) Shares Sold by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. cut its holdings in Immunovant, Inc. (NASDAQ:IMVT) by 37.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,545 shares of the company’s stock after selling 5,130 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Immunovant were worth $226,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Renaissance Technologies LLC raised its position in Immunovant by 14.2% during the second quarter. Renaissance Technologies LLC now owns 388,100 shares of the company’s stock worth $10,246,000 after acquiring an additional 48,400 shares during the period. WINTON GROUP Ltd acquired a new position in shares of Immunovant during the 2nd quarter worth about $546,000. First Turn Management LLC boosted its holdings in Immunovant by 35.6% in the 2nd quarter. First Turn Management LLC now owns 695,428 shares of the company’s stock worth $18,359,000 after buying an additional 182,535 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Immunovant in the 2nd quarter worth about $77,000. Finally, Quest Partners LLC increased its stake in Immunovant by 216.7% during the 2nd quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock worth $69,000 after buying an additional 1,786 shares in the last quarter. 47.08% of the stock is owned by institutional investors and hedge funds.

Immunovant Stock Up 2.4 %

Shares of Immunovant stock opened at $29.59 on Friday. The firm has a market cap of $4.33 billion, a PE ratio of -15.57 and a beta of 0.67. Immunovant, Inc. has a 52 week low of $19.50 and a 52 week high of $45.58. The business’s fifty day simple moving average is $29.87 and its 200-day simple moving average is $29.39.

Immunovant (NASDAQ:IMVT) last posted its earnings results on Tuesday, August 6th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.07). During the same quarter in the prior year, the business earned ($0.57) EPS. As a group, equities analysts expect that Immunovant, Inc. will post -2.43 earnings per share for the current year.

Insiders Place Their Bets

In related news, CTO Jay S. Stout sold 2,813 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $27.76, for a total transaction of $78,088.88. Following the completion of the transaction, the chief technology officer now directly owns 144,926 shares in the company, valued at approximately $4,023,145.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CTO Jay S. Stout sold 2,813 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $27.76, for a total value of $78,088.88. Following the completion of the transaction, the chief technology officer now owns 144,926 shares of the company’s stock, valued at $4,023,145.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Mark S. Levine sold 2,505 shares of Immunovant stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $29.69, for a total transaction of $74,373.45. Following the completion of the transaction, the insider now owns 337,409 shares of the company’s stock, valued at approximately $10,017,673.21. The disclosure for this sale can be found here. Insiders have sold 31,475 shares of company stock worth $904,638 over the last ninety days. Corporate insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. UBS Group decreased their target price on Immunovant from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. HC Wainwright reaffirmed a “buy” rating and set a $51.00 target price on shares of Immunovant in a research note on Tuesday, September 10th. Oppenheimer reduced their target price on shares of Immunovant from $50.00 to $46.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. Cantor Fitzgerald restated an “overweight” rating on shares of Immunovant in a research report on Monday, September 9th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Immunovant from $51.00 to $46.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Fifteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Immunovant presently has a consensus rating of “Buy” and an average price target of $48.40.

Immunovant Company 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.