Bank Pictet & Cie Europe AG Trims Holdings in Immunovant, Inc. (NASDAQ:IMVT)

Bank Pictet & Cie Europe AG trimmed its stake in Immunovant, Inc. (NASDAQ:IMVT) by 11.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 8,089 shares of the company’s stock after selling 1,079 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Immunovant were worth $200,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. KBC Group NV increased its stake 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 period. Assetmark Inc. increased its stake in Immunovant by 73.8% during the 3rd quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock worth $82,000 after buying an additional 1,228 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Immunovant by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock worth $148,000 after buying an additional 934 shares during the period. Advantage Alpha Capital Partners LP purchased a new stake in Immunovant during the 3rd quarter worth approximately $427,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Immunovant during the 3rd quarter worth approximately $517,000. 47.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IMVT has been the topic of several recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $51.00 target price on shares of Immunovant in a research note on Friday, February 7th. Wolfe Research downgraded shares of Immunovant from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Cantor Fitzgerald raised shares of Immunovant to a “strong-buy” rating in a research report on Thursday, January 30th. Wells Fargo & Company dropped their price objective on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, Bank of America dropped their price objective on shares of Immunovant from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $45.90.

Immunovant Trading Up 2.4 %

Shares of Immunovant stock opened at $20.33 on Friday. The company has a fifty day simple moving average of $23.87 and a 200-day simple moving average of $27.48. Immunovant, Inc. has a 12-month low of $19.07 and a 12-month high of $39.55. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of -7.76 and a beta of 0.65.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings results on Monday, February 10th. The company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.08). On average, analysts forecast that Immunovant, Inc. will post -2.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Immunovant news, CFO Eva Renee Barnett sold 4,174 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $25.45, for a total transaction of $106,228.30. Following the completion of the transaction, the chief financial officer now owns 331,169 shares in the company, valued at approximately $8,428,251.05. This represents a 1.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark S. Levine sold 3,650 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $25.45, for a total transaction of $92,892.50. Following the transaction, the insider now owns 319,228 shares of the company’s stock, valued at approximately $8,124,352.60. The trade was a 1.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,892 shares of company stock worth $1,811,857 in the last 90 days. Company insiders own 5.90% of the company’s stock.

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.