Fieldview Capital Management LLC Cuts Stock Holdings in Immunovant, Inc. $IMVT

Fieldview Capital Management LLC lowered its position in shares of Immunovant, Inc. (NASDAQ:IMVT) by 61.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,577 shares of the company’s stock after selling 27,524 shares during the period. Fieldview Capital Management LLC’s holdings in Immunovant were worth $283,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in IMVT. Strs Ohio bought a new stake in shares of Immunovant in the 1st quarter worth $27,000. Aster Capital Management DIFC Ltd bought a new position in shares of Immunovant during the third quarter valued at $33,000. PNC Financial Services Group Inc. boosted its position in shares of Immunovant by 138.9% during the third quarter. PNC Financial Services Group Inc. now owns 2,831 shares of the company’s stock valued at $46,000 after buying an additional 1,646 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Immunovant by 228.9% during the second quarter. Tower Research Capital LLC TRC now owns 6,140 shares of the company’s stock valued at $98,000 after buying an additional 4,273 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased its holdings in Immunovant by 14.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,976 shares of the company’s stock worth $112,000 after buying an additional 904 shares in the last quarter. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Immunovant Stock Down 0.6%

Shares of NASDAQ:IMVT opened at $25.56 on Thursday. The firm’s 50 day moving average price is $26.33 and its 200-day moving average price is $22.49. Immunovant, Inc. has a twelve month low of $12.72 and a twelve month high of $29.25. The stock has a market capitalization of $5.20 billion, a PE ratio of -9.50 and a beta of 0.62.

Immunovant (NASDAQ:IMVT) last announced its earnings results on Friday, February 6th. The company reported ($0.61) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.11. During the same quarter in the prior year, the business earned ($0.76) EPS. Analysts expect that Immunovant, Inc. will post -2.69 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on IMVT. Weiss Ratings restated a “sell (d-)” rating on shares of Immunovant in a research report on Friday, January 9th. Guggenheim lifted their target price on shares of Immunovant from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Truist Financial boosted their target price on shares of Immunovant from $16.00 to $22.00 and gave the company a “hold” rating in a research note on Thursday, January 8th. HC Wainwright reissued a “buy” rating and set a $35.00 price target on shares of Immunovant in a report on Tuesday, February 10th. Finally, The Goldman Sachs Group raised their price target on Immunovant from $18.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, December 15th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.50.

Insider Buying and Selling at Immunovant

In other news, insider Tuyl Christopher Van sold 10,813 shares of the business’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $26.91, for a total transaction of $290,977.83. Following the completion of the sale, the insider owned 149,930 shares of the company’s stock, valued at $4,034,616.30. The trade was a 6.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Jay S. Stout sold 1,977 shares of the business’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $26.03, for a total transaction of $51,461.31. Following the sale, the chief technology officer directly owned 197,634 shares of the company’s stock, valued at approximately $5,144,413.02. The trade was a 0.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,993 shares of company stock worth $374,355 in the last quarter. Corporate insiders own 1.80% of the company’s stock.

About Immunovant

Immunovant Inc is a clinical-stage biopharmaceutical company focused on the development of novel monoclonal antibody therapies that target the neonatal Fc receptor (FcRn) to treat severe autoimmune diseases. By inhibiting FcRn, Immunovant’s approach is designed to reduce levels of pathogenic immunoglobulin G (IgG) antibodies, which play a central role in the pathology of disorders such as myasthenia gravis and immune thrombocytopenia.

The company’s lead asset, efgartigimod, is an engineered Fc fragment that selectively binds to FcRn, accelerating the degradation of circulating IgG.