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

E Fund Management Co. Ltd. reduced its stake in shares of Immunovant, Inc. (NASDAQ:IMVT) by 19.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 12,256 shares of the company’s stock after selling 2,989 shares during the period. E Fund Management Co. Ltd.’s holdings in Immunovant were worth $516,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IMVT. FMR LLC lifted its stake in shares of Immunovant by 47.5% in the 3rd quarter. FMR LLC now owns 7,748,546 shares of the company’s stock worth $297,467,000 after acquiring an additional 2,494,678 shares during the period. Fred Alger Management LLC lifted its position in Immunovant by 6,108.9% in the third quarter. Fred Alger Management LLC now owns 1,186,031 shares of the company’s stock worth $45,532,000 after purchasing an additional 1,166,929 shares during the period. Armistice Capital LLC bought a new position in Immunovant during the 3rd quarter valued at $39,767,000. Vanguard Group Inc. increased its position in shares of Immunovant by 14.0% during the 3rd quarter. Vanguard Group Inc. now owns 6,233,146 shares of the company’s stock valued at $239,290,000 after purchasing an additional 764,530 shares during the period. Finally, Rock Springs Capital Management LP bought a new stake in shares of Immunovant in the 3rd quarter worth $24,736,000. Institutional investors own 47.08% of the company’s stock.

Insider Buying and Selling

In related news, CTO Jay S. Stout sold 7,239 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $28.90, for a total value of $209,207.10. Following the completion of the sale, the chief technology officer now directly owns 147,739 shares in the company, valued at approximately $4,269,657.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Immunovant news, CEO Peter Salzmann sold 4,807 shares of the stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $31.18, for a total value of $149,882.26. Following the completion of the sale, the chief executive officer now directly owns 1,086,958 shares of the company’s stock, valued at approximately $33,891,350.44. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Jay S. Stout sold 7,239 shares of the business’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $28.90, for a total transaction of $209,207.10. Following the transaction, the chief technology officer now owns 147,739 shares in the company, valued at approximately $4,269,657.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,560 shares of company stock worth $2,424,601. 4.80% of the stock is currently owned by insiders.

Immunovant Stock Performance

Shares of Immunovant stock traded up $0.18 during trading on Wednesday, hitting $29.76. 804,546 shares of the stock traded hands, compared to its average volume of 1,200,295. The stock has a market cap of $4.32 billion, a P/E ratio of -16.17 and a beta of 0.70. Immunovant, Inc. has a twelve month low of $17.53 and a twelve month high of $45.58. The company has a fifty day moving average price of $30.89 and a two-hundred day moving average price of $35.39.

Immunovant (NASDAQ:IMVT) last posted its earnings results on Monday, February 12th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.07. On average, equities research analysts expect that Immunovant, Inc. will post -1.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on IMVT. Wolfe Research began coverage on Immunovant in a report on Thursday, February 15th. They set an “outperform” rating and a $55.00 target price on the stock. Truist Financial reaffirmed a “buy” rating and set a $48.00 target price on shares of Immunovant in a report on Monday, March 25th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a report on Friday, January 12th. JPMorgan Chase & Co. began coverage on Immunovant in a report on Tuesday, February 20th. They set an “overweight” rating and a $51.00 target price on the stock. Finally, Oppenheimer assumed coverage on Immunovant in a report on Thursday, March 28th. They set an “outperform” rating and a $50.00 target price on the stock. Seventeen analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Immunovant currently has a consensus rating of “Buy” and a consensus target price of $48.00.

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.