WCM Investment Management LLC Lowers Holdings in Immunovant, Inc. (NASDAQ:IMVT)

WCM Investment Management LLC lowered its stake in shares of Immunovant, Inc. (NASDAQ:IMVT) by 0.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 173,984 shares of the company’s stock after selling 1,558 shares during the period. WCM Investment Management LLC owned about 0.12% of Immunovant worth $4,875,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Sei Investments Co. grew its holdings in Immunovant by 11.2% during the first quarter. Sei Investments Co. now owns 20,690 shares of the company’s stock worth $668,000 after acquiring an additional 2,085 shares during the period. ProShare Advisors LLC lifted its stake 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 purchasing an additional 1,703 shares during the period. Vanguard Group Inc. lifted its stake in shares of Immunovant by 11.2% in the 1st quarter. Vanguard Group Inc. now owns 6,478,304 shares of the company’s stock valued at $209,314,000 after purchasing an additional 650,506 shares during the period. Hillsdale Investment Management Inc. boosted its holdings in Immunovant by 8.9% during the first quarter. Hillsdale Investment Management Inc. now owns 100,200 shares of the company’s stock worth $3,237,000 after buying an additional 8,200 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its position in Immunovant by 106.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 12,331 shares of the company’s stock valued at $398,000 after buying an additional 6,344 shares during the period. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Insider Transactions at Immunovant

In related news, CEO Peter Salzmann sold 9,095 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $28.79, for a total value of $261,845.05. Following the completion of the sale, the chief executive officer now owns 994,789 shares of the company’s stock, valued at approximately $28,639,975.31. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Peter Salzmann sold 9,095 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $28.79, for a total transaction of $261,845.05. Following the transaction, the chief executive officer now owns 994,789 shares of the company’s stock, valued at approximately $28,639,975.31. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction of $80,912.20. Following the sale, the chief technology officer now owns 142,186 shares of the company’s stock, valued at approximately $4,198,752.58. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,277 shares of company stock worth $941,919 in the last ninety days. Insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on IMVT. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunovant in a research report on Monday, September 9th. UBS Group reduced their price target on Immunovant from $42.00 to $41.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Raymond James reissued an “outperform” rating and issued a $36.00 price objective on shares of Immunovant in a report on Thursday, October 10th. JPMorgan Chase & Co. reduced their target price on Immunovant from $51.00 to $46.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Finally, Oppenheimer lifted their price target on shares of Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Immunovant presently has a consensus rating of “Buy” and an average price target of $48.10.

Immunovant Stock Up 1.6 %

Shares of IMVT opened at $31.14 on Tuesday. Immunovant, Inc. has a 52-week low of $24.67 and a 52-week high of $45.58. The stock has a market cap of $4.56 billion, a PE ratio of -14.03 and a beta of 0.66. The firm’s fifty day moving average is $29.76 and its two-hundred day moving average is $28.97.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings results 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 previous year, the business posted ($0.45) EPS. As a group, research analysts anticipate that Immunovant, Inc. will post -2.42 earnings per share for the current 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.