Pictet Asset Management Holding SA Decreases Stock Position in Immunovant, Inc. (NASDAQ:IMVT)

Pictet Asset Management Holding SA cut its position in shares of Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 4.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.

Other large investors also recently modified their holdings of the company. Intech Investment Management LLC bought a new position in shares of Immunovant in the 3rd quarter valued at $622,000. Charles Schwab Investment Management Inc. increased its position in shares of Immunovant by 19.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 552,430 shares of the company's stock worth $15,750,000 after buying an additional 91,259 shares during the period. FMR LLC raised its position in shares of Immunovant by 19.6% in the 3rd quarter. FMR LLC now owns 12,537,571 shares of the company's stock worth $357,446,000 after acquiring an additional 2,053,688 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in shares of Immunovant during the 3rd quarter worth approximately $1,471,000. Finally, Baker BROS. Advisors LP increased its stake in Immunovant by 163.7% in the third quarter. Baker BROS. Advisors LP now owns 1,225,410 shares of the company's stock valued at $34,936,000 after purchasing an additional 760,692 shares in the last quarter. 47.08% of the stock is owned by institutional investors.

Immunovant Trading Down 4.6 %

Shares of IMVT stock traded down $0.76 during trading hours on Thursday, reaching $15.66. The company's stock had a trading volume of 857,593 shares, compared to its average volume of 1,137,174. The stock has a market capitalization of $2.66 billion, a P/E ratio of -5.96 and a beta of 0.68. The firm's fifty day simple moving average is $19.93 and its 200 day simple moving average is $24.94. Immunovant, Inc. has a one year low of $14.90 and a one year high of $34.47.

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

Insiders Place Their Bets

In other Immunovant news, CEO Peter Salzmann sold 5,105 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $24.10, for a total value of $123,030.50. Following the completion of the transaction, the chief executive officer now owns 972,992 shares in the company, valued at approximately $23,449,107.20. This represents a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sciences Ltd. Roivant acquired 16,845,010 shares of the stock in a transaction on Monday, January 13th. The shares were purchased at an average cost of $20.00 per share, with a total value of $336,900,200.00. Following the transaction, the director now directly owns 96,650,341 shares of the company's stock, valued at approximately $1,933,006,820. This trade represents a 21.11 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 35,510 shares of company stock worth $813,686. Company insiders own 5.90% of the company's stock.

Wall Street Analyst Weigh In

IMVT has been the subject of a number of recent research reports. Wells Fargo & Company decreased their price objective on Immunovant from $47.00 to $45.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. Wolfe Research downgraded shares of Immunovant from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. HC Wainwright restated a "buy" rating and issued a $51.00 target price on shares of Immunovant in a research note on Wednesday, March 19th. Cantor Fitzgerald upgraded Immunovant to a "strong-buy" rating in a research report on Tuesday, March 4th. Finally, Bank of America lowered their price objective on shares of Immunovant from $38.00 to $33.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Immunovant presently has an average rating of "Buy" and a consensus price target of $41.00.

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.