JPMorgan Chase & Co. Lowers Stock Position in Immunovant, Inc. (NASDAQ:IMVT)

JPMorgan Chase & Co. trimmed its holdings in shares of Immunovant, Inc. (NASDAQ:IMVT) by 11.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 228,257 shares of the company’s stock after selling 28,586 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.16% of Immunovant worth $6,508,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. KBC Group NV lifted its position in Immunovant by 46.2% during the third quarter. KBC Group NV now owns 1,936 shares of the company’s stock valued at $55,000 after acquiring an additional 612 shares during the last quarter. Quest Partners LLC increased its position in shares of Immunovant by 216.7% during the second quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock worth $69,000 after purchasing an additional 1,786 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Immunovant by 73.8% during the 3rd quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock valued at $82,000 after purchasing an additional 1,228 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Immunovant by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock valued at $148,000 after purchasing an additional 934 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG acquired a new stake in shares of Immunovant in the 3rd quarter worth $261,000. 47.08% of the stock is owned by hedge funds and other institutional investors.

Immunovant Price Performance

IMVT stock opened at $24.40 on Thursday. Immunovant, Inc. has a 1 year low of $22.41 and a 1 year high of $42.44. The firm has a market capitalization of $3.58 billion, a PE ratio of -10.99 and a beta of 0.66. The business has a 50 day simple moving average of $26.79 and a 200-day simple moving average of $28.56.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.15). During the same period in the prior year, the business earned ($0.45) earnings per share. On average, equities research analysts expect that Immunovant, Inc. will post -2.73 EPS for the current year.

Insider Activity

In other news, insider Mark S. Levine sold 3,650 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $25.45, for a total value of $92,892.50. Following the transaction, the insider now owns 319,228 shares of the company’s stock, valued at $8,124,352.60. This represents a 1.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Jay S. Stout sold 2,740 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $29.53, for a total value of $80,912.20. Following the sale, the chief technology officer now directly owns 142,186 shares of the company’s stock, valued at $4,198,752.58. The trade was a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 61,693 shares of company stock valued at $1,586,625. 5.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Oppenheimer upped their price objective on shares of Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Wolfe Research cut shares of Immunovant from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. HC Wainwright reiterated a “buy” rating and set a $51.00 price objective on shares of Immunovant in a research note on Friday, November 8th. Bank of America cut their target price on Immunovant from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Wells Fargo & Company lowered their price target on Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.00.

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.