PEAK6 Investments LLC Sells 4,986 Shares of Immunovant, Inc. (NASDAQ:IMVT)

PEAK6 Investments LLC cut its holdings in shares of Immunovant, Inc. (NASDAQ:IMVT) by 23.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,001 shares of the company’s stock after selling 4,986 shares during the period. PEAK6 Investments LLC’s holdings in Immunovant were worth $456,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IMVT. DNB Asset Management AS lifted its position in shares of Immunovant by 10.3% during the second quarter. DNB Asset Management AS now owns 10,290 shares of the company’s stock worth $271,000 after purchasing an additional 958 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Immunovant by 638.7% during the 2nd quarter. SG Americas Securities LLC now owns 30,702 shares of the company’s stock worth $811,000 after buying an additional 26,546 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Immunovant by 198.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 311,525 shares of the company’s stock valued at $8,224,000 after buying an additional 207,003 shares during the last quarter. EFG Asset Management North America Corp. increased its stake in shares of Immunovant by 23.4% in the 2nd quarter. EFG Asset Management North America Corp. now owns 58,070 shares of the company’s stock valued at $1,531,000 after buying an additional 11,000 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Immunovant by 12.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 250,339 shares of the company’s stock valued at $6,609,000 after buying an additional 27,960 shares during the period. 47.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on IMVT shares. Oppenheimer upped their target price on shares of Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a research note on Monday, September 9th. HC Wainwright reiterated a “buy” rating and set a $51.00 target price on shares of Immunovant in a research report on Friday, November 8th. JPMorgan Chase & Co. reduced their price target on Immunovant from $51.00 to $46.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Finally, UBS Group dropped their price objective on Immunovant from $42.00 to $41.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $48.10.

Insider Transactions at Immunovant

In other news, CFO Eva Renee Barnett sold 5,162 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was 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. This represents a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Jay S. Stout sold 2,740 shares of Immunovant stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $29.53, for a total value of $80,912.20. Following the completion of the sale, the chief technology officer now directly owns 142,186 shares in the company, valued at approximately $4,198,752.58. This represents a 1.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 77,659 shares of company stock valued at $2,096,890 over the last quarter. Corporate insiders own 5.90% of the company’s stock.

Immunovant Trading Down 2.0 %

NASDAQ:IMVT opened at $28.22 on Wednesday. The stock has a market cap of $4.14 billion, a price-to-earnings ratio of -12.71 and a beta of 0.64. The stock has a 50-day moving average price of $28.95 and a two-hundred day moving average price of $28.79. Immunovant, Inc. has a 1 year low of $24.61 and a 1 year high of $45.58.

Immunovant (NASDAQ:IMVT) last posted its earnings results on Thursday, November 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.15). During the same period last year, the company earned ($0.45) earnings per share. Sell-side analysts forecast that Immunovant, Inc. will post -2.73 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.