Immunovant, Inc. (NASDAQ:IMVT) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. reduced its position in Immunovant, Inc. (NASDAQ:IMVT) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 984,063 shares of the company’s stock after selling 65,616 shares during the period. Franklin Resources Inc.’s holdings in Immunovant were worth $24,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. KBC Group NV increased its holdings in Immunovant by 60.1% in the fourth quarter. KBC Group NV now owns 3,099 shares of the company’s stock valued at $77,000 after buying an additional 1,163 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Immunovant in the 4th quarter valued at $268,000. Aigen Investment Management LP acquired a new position in Immunovant during the fourth quarter worth $270,000. Teacher Retirement System of Texas lifted its holdings in Immunovant by 18.5% during the fourth quarter. Teacher Retirement System of Texas now owns 15,203 shares of the company’s stock valued at $377,000 after purchasing an additional 2,373 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Immunovant during the fourth quarter valued at $505,000. 47.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on IMVT shares. Guggenheim reissued a “buy” rating on shares of Immunovant in a research note on Thursday, March 20th. Jefferies Financial Group initiated coverage on Immunovant in a report on Monday, March 3rd. They set a “hold” rating and a $20.00 target price for the company. Wells Fargo & Company lowered their price target on Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. HC Wainwright reiterated a “buy” rating and set a $51.00 price target on shares of Immunovant in a research report on Wednesday, March 19th. Finally, Wolfe Research lowered Immunovant from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $41.00.

Immunovant Stock Down 7.6 %

Shares of NASDAQ:IMVT opened at $14.58 on Monday. Immunovant, Inc. has a 52-week low of $14.16 and a 52-week high of $34.47. The stock has a market cap of $2.48 billion, a P/E ratio of -5.56 and a beta of 0.81. The business has a fifty day moving average of $19.60 and a two-hundred day moving average of $24.71.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings data on Monday, February 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.08). On average, equities analysts anticipate that Immunovant, Inc. will post -2.69 earnings per share for the current year.

Insider Activity

In related news, insider William L. Macias sold 2,383 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $23.83, for a total value of $56,786.89. Following the transaction, the insider now directly owns 359,408 shares in the company, valued at approximately $8,564,692.64. This represents a 0.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Jay S. Stout sold 2,195 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $23.59, for a total value of $51,780.05. Following the completion of the transaction, the chief technology officer now directly owns 139,991 shares in the company, valued at approximately $3,302,387.69. This trade represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,510 shares of company stock valued at $813,686 in the last 90 days. Company insiders own 5.90% of the company’s stock.

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.