Dimensional Fund Advisors LP Reduces Stake in Immunovant, Inc. (NASDAQ:IMVT)

Dimensional Fund Advisors LP cut its holdings in shares of Immunovant, Inc. (NASDAQ:IMVT) by 13.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 494,689 shares of the company’s stock after selling 78,758 shares during the period. Dimensional Fund Advisors LP owned 0.34% of Immunovant worth $13,059,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Quest Partners LLC increased its position in Immunovant by 216.7% during the 2nd quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock valued at $69,000 after purchasing an additional 1,786 shares during the period. Headlands Technologies LLC purchased a new position in shares of Immunovant during the second quarter valued at about $77,000. EntryPoint Capital LLC raised its stake in Immunovant by 288.8% in the first quarter. EntryPoint Capital LLC now owns 2,912 shares of the company’s stock worth $94,000 after buying an additional 2,163 shares in the last quarter. DNB Asset Management AS lifted its holdings in Immunovant by 10.3% in the second quarter. DNB Asset Management AS now owns 10,290 shares of the company’s stock worth $271,000 after buying an additional 958 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in Immunovant by 106.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 12,331 shares of the company’s stock worth $398,000 after buying an additional 6,344 shares during the period. Institutional investors own 47.08% of the company’s stock.

Insider Buying and Selling at Immunovant

In other news, 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 value of $74,373.45. Following the completion of the sale, the insider now directly owns 337,409 shares in the company, valued at $10,017,673.21. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Immunovant news, insider Julia G. Butchko sold 1,527 shares of the business’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $28.06, for a total transaction of $42,847.62. Following the completion of the sale, the insider now directly owns 446,853 shares in the company, valued at $12,538,695.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark S. Levine sold 2,505 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $29.69, for a total transaction of $74,373.45. Following the sale, the insider now directly owns 337,409 shares of the company’s stock, valued at $10,017,673.21. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,475 shares of company stock worth $904,638. Company insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. UBS Group dropped their price target on Immunovant from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. JPMorgan Chase & Co. dropped their target price on shares of Immunovant from $51.00 to $46.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. HC Wainwright reissued a “buy” rating and set a $51.00 price target on shares of Immunovant in a research report on Monday, September 30th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Immunovant in a report on Monday, September 9th. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $49.09.

Immunovant Stock Up 4.2 %

Shares of NASDAQ IMVT opened at $30.51 on Friday. The firm has a market cap of $4.46 billion, a P/E ratio of -16.06 and a beta of 0.67. Immunovant, Inc. has a twelve month low of $24.67 and a twelve month high of $45.58. The company has a 50 day moving average of $29.84 and a 200 day moving average of $29.13.

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

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.