Affinity Asset Advisors LLC Sells 203,000 Shares of Immunovant, Inc. (NASDAQ:IMVT)

Affinity Asset Advisors LLC reduced its position in shares of Immunovant, Inc. (NASDAQ:IMVT) by 67.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 100,000 shares of the company’s stock after selling 203,000 shares during the quarter. Affinity Asset Advisors LLC owned about 0.06% of Immunovant worth $2,477,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. KBC Group NV increased its position in shares of Immunovant by 60.1% during the fourth 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 bought a new stake in Immunovant during the 4th quarter worth approximately $268,000. Aigen Investment Management LP purchased a new stake in shares of Immunovant in the fourth quarter worth approximately $270,000. Teacher Retirement System of Texas lifted its holdings in shares of Immunovant by 18.5% in the fourth quarter. Teacher Retirement System of Texas now owns 15,203 shares of the company’s stock valued at $377,000 after purchasing an additional 2,373 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Immunovant during the fourth quarter valued at approximately $505,000. Institutional investors own 47.08% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. HC Wainwright reissued a “buy” rating and set a $51.00 price target on shares of Immunovant in a research report on Wednesday, March 19th. Jefferies Financial Group began coverage on Immunovant in a research note on Monday, March 3rd. They issued a “hold” rating and a $20.00 target price on the stock. Guggenheim reaffirmed a “buy” rating on shares of Immunovant in a research report on Thursday, March 20th. Bank of America cut their price objective on Immunovant from $38.00 to $33.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Finally, Wells Fargo & Company decreased their target price on Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $41.00.

Insider Activity

In other news, insider William L. Macias sold 2,383 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $23.83, for a total value of $56,786.89. Following the transaction, the insider now directly owns 359,408 shares in the company, valued at $8,564,692.64. The trade was a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Eva Renee Barnett sold 2,298 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $23.83, for a total value of $54,761.34. Following the completion of the transaction, the chief financial officer now owns 324,766 shares of the company’s stock, valued at $7,739,173.78. The trade was a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,394 shares of company stock valued at $956,666 in the last quarter. 5.90% of the stock is currently owned by insiders.

Immunovant Trading Up 5.1 %

NASDAQ IMVT opened at $15.43 on Tuesday. The stock’s fifty day moving average price is $18.43 and its 200-day moving average price is $23.95. The stock has a market cap of $2.62 billion, a P/E ratio of -5.89 and a beta of 0.81. Immunovant, Inc. has a 12 month low of $12.72 and a 12 month high of $34.47.

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

About Immunovant

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.