Immunovant, Inc. (NASDAQ:IMVT) Shares Sold by Blue Owl Capital Holdings LP

Blue Owl Capital Holdings LP lessened its holdings in shares of Immunovant, Inc. (NASDAQ:IMVT) by 20.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 80,000 shares of the company’s stock after selling 20,000 shares during the period. Blue Owl Capital Holdings LP’s holdings in Immunovant were worth $2,112,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assetmark Inc. acquired a new stake in shares of Immunovant during the 4th quarter worth about $61,000. Quest Partners LLC increased its position in 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 buying an additional 1,786 shares during the period. Headlands Technologies LLC acquired a new position in Immunovant during the second quarter worth approximately $77,000. EntryPoint Capital LLC increased its position in Immunovant by 288.8% during 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 during the period. Finally, DNB Asset Management AS increased its position in 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 buying an additional 958 shares during the period. Institutional investors and hedge funds own 47.08% of the company’s stock.

Insider Activity at Immunovant

In related news, CEO Peter Salzmann sold 4,619 shares of Immunovant stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $28.06, for a total value of $129,609.14. Following the sale, the chief executive officer now directly owns 1,032,097 shares in the company, valued at $28,960,641.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Immunovant news, CEO Peter Salzmann sold 4,619 shares of the business’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $28.06, for a total transaction of $129,609.14. Following the sale, the chief executive officer now directly owns 1,032,097 shares in the company, valued at $28,960,641.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Eva Renee Barnett sold 4,747 shares of the business’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $28.06, for a total value of $133,200.82. Following the sale, the chief financial officer now owns 350,667 shares in the company, valued at $9,839,716.02. The disclosure for this sale can be found here. Insiders have sold a total of 31,475 shares of company stock worth $904,638 over the last three months. 5.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on IMVT. JPMorgan Chase & Co. cut 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. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a research report on Monday, September 9th. HC Wainwright reaffirmed a “buy” rating and set a $51.00 price target on shares of Immunovant in a research report on Tuesday, September 10th. Oppenheimer dropped their target price on Immunovant from $50.00 to $46.00 and set an “outperform” rating on the stock in a report on Monday, June 3rd. Finally, UBS Group dropped their target price on Immunovant from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $49.09.

Immunovant Price Performance

Immunovant stock opened at $28.02 on Friday. Immunovant, Inc. has a 1-year low of $24.67 and a 1-year high of $45.58. The company has a market cap of $4.10 billion, a PE ratio of -14.75 and a beta of 0.67. The stock’s 50 day moving average price is $29.73 and its 200 day moving average price is $29.21.

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 analysts’ consensus estimates of ($0.53) by ($0.07). During the same quarter in the previous year, the firm posted ($0.57) earnings per share. On average, equities research analysts anticipate that Immunovant, Inc. will post -2.43 EPS for the current fiscal year.

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.