Immunovant, Inc. (NASDAQ:IMVT) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its position in Immunovant, Inc. (NASDAQ:IMVT) by 4.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,175,685 shares of the company’s stock after selling 54,624 shares during the period. Pictet Asset Management Holding SA owned 0.69% of Immunovant worth $29,122,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. KBC Group NV grew its position in shares of Immunovant by 60.1% in the 4th quarter. KBC Group NV now owns 3,099 shares of the company’s stock worth $77,000 after acquiring an additional 1,163 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Immunovant in the fourth quarter worth $268,000. Aigen Investment Management LP bought a new stake in Immunovant during the fourth quarter valued at $270,000. Teacher Retirement System of Texas raised its holdings in shares of Immunovant by 18.5% during the fourth quarter. Teacher Retirement System of Texas now owns 15,203 shares of the company’s stock worth $377,000 after purchasing an additional 2,373 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Immunovant in the 4th quarter worth about $505,000. 47.08% of the stock is owned by institutional investors.

Immunovant Stock Performance

Shares of IMVT opened at $18.37 on Monday. Immunovant, Inc. has a one year low of $17.01 and a one year high of $34.47. The stock’s fifty day moving average is $20.36 and its 200-day moving average is $25.18. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of -7.01 and a beta of 0.68.

Immunovant (NASDAQ:IMVT) last released its earnings results on Monday, February 10th. The company reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.08). Analysts forecast that Immunovant, Inc. will post -2.69 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Eva Renee Barnett sold 4,105 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $24.10, for a total value of $98,930.50. Following the sale, the chief financial officer now owns 327,064 shares of the company’s stock, valued at approximately $7,882,242.40. The trade was a 1.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrew J. Fromkin sold 8,000 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $19.60, for a total value of $156,800.00. Following the completion of the sale, the director now owns 91,913 shares of the company’s stock, valued at approximately $1,801,494.80. This trade represents a 8.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,510 shares of company stock valued at $813,686 over the last quarter. Corporate insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on IMVT shares. Wolfe Research downgraded shares of Immunovant from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Jefferies Financial Group assumed coverage on Immunovant in a report on Monday, March 3rd. They set a “hold” rating and a $20.00 target price for the company. Cantor Fitzgerald raised Immunovant to a “strong-buy” rating in a report on Tuesday, March 4th. HC Wainwright restated a “buy” rating and set a $51.00 price objective on shares of Immunovant in a research note on Wednesday, March 19th. Finally, Bank of America dropped their target price on Immunovant from $38.00 to $33.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Immunovant has an average rating of “Buy” and an average price target of $41.00.

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.