Immunovant, Inc. (NASDAQ:IMVT) Shares Sold by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. lessened its position in shares of Immunovant, Inc. (NASDAQ:IMVT) by 37.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 8,545 shares of the company’s stock after selling 5,130 shares during the period. E Fund Management Co. Ltd.’s holdings in Immunovant were worth $226,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of IMVT. DNB Asset Management AS lifted its position in shares of Immunovant by 10.3% during the 2nd quarter. DNB Asset Management AS now owns 10,290 shares of the company’s stock worth $271,000 after purchasing an additional 958 shares during the last quarter. Bamco Inc. NY lifted its holdings in Immunovant by 1.7% during the 1st quarter. Bamco Inc. NY now owns 60,000 shares of the company’s stock worth $1,939,000 after buying an additional 1,000 shares during the last quarter. Assetmark Inc. acquired a new position in shares of Immunovant during the 4th quarter worth about $61,000. ProShare Advisors LLC increased its holdings in shares of Immunovant by 9.4% in the 1st quarter. ProShare Advisors LLC now owns 19,877 shares of the company’s stock valued at $642,000 after acquiring an additional 1,703 shares during the last quarter. Finally, Quest Partners LLC raised its position in shares of Immunovant by 216.7% during the 2nd quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock worth $69,000 after acquiring an additional 1,786 shares in the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Immunovant

In other Immunovant news, CEO Peter Salzmann sold 4,619 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now owns 1,032,097 shares in the company, valued at $28,960,641.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Eva Renee Barnett sold 4,747 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $28.06, for a total transaction of $133,200.82. Following the sale, the chief financial officer now owns 350,667 shares of the company’s stock, valued at approximately $9,839,716.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Peter Salzmann sold 4,619 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $28.06, for a total value of $129,609.14. Following the completion of the transaction, the chief executive officer now directly owns 1,032,097 shares of the company’s stock, valued at $28,960,641.82. 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.

Analyst Ratings Changes

Several brokerages have commented on IMVT. Oppenheimer dropped their price target on shares of Immunovant from $50.00 to $46.00 and set an “outperform” rating on the stock in a research note on Monday, June 3rd. UBS Group dropped their target price on shares of Immunovant from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. JPMorgan Chase & Co. reduced their price target 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. HC Wainwright restated a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a research note on Tuesday, September 10th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunovant in a research report on Monday, September 9th. Fifteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, Immunovant has an average rating of “Buy” and a consensus price target of $48.40.

Immunovant Stock Up 2.4 %

Shares of NASDAQ:IMVT opened at $29.59 on Friday. Immunovant, Inc. has a fifty-two week low of $19.50 and a fifty-two week high of $45.58. The firm’s 50-day simple moving average is $29.87 and its 200-day simple moving average is $29.39. The company has a market cap of $4.33 billion, a price-to-earnings ratio of -15.57 and a beta of 0.67.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings data 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 prior year, the firm earned ($0.57) earnings per share. On average, research analysts forecast that Immunovant, Inc. will post -2.43 EPS 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.