SG Americas Securities LLC Reduces Holdings in Immunovant, Inc. (NASDAQ:IMVT)

SG Americas Securities LLC decreased its position in shares of Immunovant, Inc. (NASDAQ:IMVT) by 48.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,944 shares of the company’s stock after selling 14,758 shares during the period. SG Americas Securities LLC’s holdings in Immunovant were worth $455,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IMVT. Assenagon Asset Management S.A. increased its position in shares of Immunovant by 198.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 311,525 shares of the company’s stock worth $8,224,000 after purchasing an additional 207,003 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Immunovant by 98.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 71,788 shares of the company’s stock worth $2,319,000 after purchasing an additional 35,589 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Immunovant by 16.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,862,043 shares of the company’s stock worth $60,163,000 after purchasing an additional 259,481 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Immunovant by 11.2% in the 1st quarter. Vanguard Group Inc. now owns 6,478,304 shares of the company’s stock worth $209,314,000 after purchasing an additional 650,506 shares during the last quarter. Finally, Rubric Capital Management LP bought a new stake in shares of Immunovant in the 2nd quarter worth about $1,548,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on IMVT shares. UBS Group dropped their target price on shares of Immunovant from $42.00 to $41.00 and set a “buy” rating for the company 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 for the company in a research report on Thursday, August 8th. Raymond James reissued an “outperform” rating and issued a $36.00 target price on shares of Immunovant in a research report on Thursday, October 10th. Oppenheimer lifted their price target on shares of Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $51.00 price target on shares of Immunovant in a report on Monday, September 30th. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Immunovant has an average rating of “Buy” and a consensus target price of $48.91.

Insider Buying and Selling at Immunovant

In other Immunovant news, CFO Eva Renee Barnett sold 5,162 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $29.56, for a total transaction of $152,588.72. Following the completion of the transaction, the chief financial officer now directly owns 338,614 shares of the company’s stock, valued at $10,009,429.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Eva Renee Barnett sold 5,162 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $29.56, for a total value of $152,588.72. Following the completion of the sale, the chief financial officer now directly owns 338,614 shares of the company’s stock, valued at approximately $10,009,429.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Peter Salzmann sold 4,460 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $29.56, for a total transaction of $131,837.60. Following the completion of the sale, the chief executive officer now directly owns 1,003,884 shares of the company’s stock, valued at approximately $29,674,811.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,891 shares of company stock valued at $458,454 in the last ninety days. Company insiders own 5.90% of the company’s stock.

Immunovant Stock Up 2.2 %

Immunovant stock opened at $29.17 on Thursday. The firm has a 50-day moving average price of $30.06 and a two-hundred day moving average price of $28.99. The firm has a market capitalization of $4.26 billion, a price-to-earnings ratio of -15.35 and a beta of 0.66. Immunovant, Inc. has a 52-week low of $24.67 and a 52-week high of $45.58.

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

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.