103,278 Immunovant, Inc. $IMVT Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its holdings in shares of Immunovant, Inc. (NASDAQ:IMVT) by 22.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 359,081 shares of the company’s stock after selling 103,278 shares during the period. Pictet Asset Management Holding SA owned approximately 0.17% of Immunovant worth $12,130,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Immunovant during the second quarter valued at about $276,680,000. Two Seas Capital LP lifted its position in Immunovant by 46.5% in the third quarter. Two Seas Capital LP now owns 4,612,692 shares of the company’s stock worth $155,817,000 after purchasing an additional 1,464,187 shares during the period. ADAR1 Capital Management LLC acquired a new stake in Immunovant during the second quarter worth $89,802,000. Jennison Associates LLC increased its holdings in Immunovant by 356.4% in the 1st quarter. Jennison Associates LLC now owns 3,196,705 shares of the company’s stock valued at $79,406,000 after buying an additional 2,496,241 shares during the period. Finally, Bank of America Corp DE acquired a new position in shares of Immunovant in the 2nd quarter valued at $45,521,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IMVT. Truist Financial upped their price objective on Immunovant from $30.00 to $33.00 and gave the company a “hold” rating in a research note on Tuesday. HC Wainwright reaffirmed a “buy” rating on shares of Immunovant in a report on Thursday, September 24th. JPMorgan Chase & Co. raised their price target on Immunovant from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Sanford C. Bernstein upgraded Immunovant to a “hold” rating in a report on Wednesday, July 29th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Immunovant in a research report on Friday, October 2nd. Nine investment 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. According to data from MarketBeat.com, Immunovant has an average rating of “Moderate Buy” and an average target price of $44.60.

Immunovant Price Performance

IMVT opened at $35.05 on Friday. The firm has a 50 day simple moving average of $32.74 and a 200 day simple moving average of $32.30. Immunovant, Inc. has a fifty-two week low of $21.86 and a fifty-two week high of $45.42.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings results on Monday, November 9th. The company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.27. During the same period last year, the company posted ($0.73) earnings per share. Analysts forecast that Immunovant, Inc. will post -2.78 EPS for the current year.

Insiders Place Their Bets

In other Immunovant news, COO Melanie Gloria sold 2,241 shares of the stock in a transaction on Wednesday, October 7th. The shares were sold at an average price of $32.06, for a total value of $71,846.46. Following the sale, the chief operating officer directly owned 217,060 shares in the company, valued at approximately $6,958,943.60. This trade represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Jay Stout sold 2,595 shares of the company’s stock in a transaction on Wednesday, October 21st. The shares were sold at an average price of $28.94, for a total transaction of $75,099.30. Following the completion of the sale, the chief technology officer owned 198,937 shares of the company’s stock, valued at approximately $5,757,236.78. This represents a 1.29% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 27,430 shares of company stock worth $895,852 over the last ninety days. Company insiders own 1.90% of the company’s stock.

Immunovant Company Profile

Immunovant, Inc. is a clinical-stage biopharmaceutical company developing treatments for autoimmune diseases. Its research focuses on inhibiting the neonatal Fc receptor (FcRn), a pathway involved in maintaining levels of disease-causing antibodies. The company’s investigational medicines include batoclimab and IMVT-1402, both designed to reduce circulating antibodies. Immunovant has studied or evaluated these candidates for conditions including myasthenia gravis, Graves’ disease and other autoimmune disorders.