Immunovant, Inc. (NASDAQ:IMVT) Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ trimmed its position in Immunovant, Inc. (NASDAQ:IMVT) by 60.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,316 shares of the company’s stock after selling 53,152 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Immunovant were worth $843,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of IMVT. KBC Group NV raised its position in Immunovant by 46.2% during the 3rd quarter. KBC Group NV now owns 1,936 shares of the company’s stock worth $55,000 after buying an additional 612 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Immunovant by 73.8% during the third quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock worth $82,000 after purchasing an additional 1,228 shares during the last quarter. Aigen Investment Management LP purchased a new position in shares of Immunovant during the fourth quarter worth $270,000. Advantage Alpha Capital Partners LP acquired a new position in Immunovant during the third quarter valued at $427,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Immunovant in the third quarter valued at $517,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on IMVT shares. Bank of America decreased their price objective on Immunovant from $48.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. Jefferies Financial Group initiated coverage on Immunovant in a research report on Monday, March 3rd. They issued a “hold” rating and a $20.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and set a $51.00 target price on shares of Immunovant in a report on Friday, February 7th. Wolfe Research downgraded shares of Immunovant from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, Guggenheim reaffirmed a “buy” rating on shares of Immunovant in a report on Monday, March 10th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $42.90.

Insider Transactions at Immunovant

In other news, insider William L. Macias sold 2,383 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $23.83, for a total value of $56,786.89. Following the completion of the sale, the insider now directly owns 359,408 shares in the company, valued at $8,564,692.64. This represents a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Andrew J. Fromkin sold 8,000 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $19.60, for a total transaction of $156,800.00. Following the transaction, the director now owns 91,913 shares in the company, valued at $1,801,494.80. The trade was a 8.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,510 shares of company stock valued at $813,686 over the last ninety days. Insiders own 5.90% of the company’s stock.

Immunovant Stock Up 2.6 %

Shares of NASDAQ IMVT opened at $20.02 on Tuesday. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of -7.64 and a beta of 0.68. The company’s 50-day simple moving average is $21.23 and its 200-day simple moving average is $25.97. Immunovant, Inc. has a 52-week low of $17.65 and a 52-week high of $35.97.

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

Immunovant 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.