Skandinaviska Enskilda Banken AB publ Sells 53,152 Shares of Immunovant, Inc. (NASDAQ:IMVT)

Skandinaviska Enskilda Banken AB publ lessened its holdings in Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 60.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,316 shares of the company's stock after selling 53,152 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Immunovant were worth $843,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Swiss National Bank lifted its holdings in Immunovant by 1.2% in the 4th quarter. Swiss National Bank now owns 100,800 shares of the company's stock worth $2,497,000 after purchasing an additional 1,200 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Immunovant by 29.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,884 shares of the company's stock valued at $5,843,000 after purchasing an additional 54,085 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Immunovant in the fourth quarter valued at approximately $505,000. Aigen Investment Management LP acquired a new stake in shares of Immunovant in the fourth quarter worth $270,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Immunovant by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 564,442 shares of the company's stock worth $13,981,000 after buying an additional 12,012 shares during the period. 47.08% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Peter Salzmann sold 5,105 shares of the firm's stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $24.10, for a total transaction of $123,030.50. Following the completion of the sale, the chief executive officer now directly owns 972,992 shares of the company's stock, valued at $23,449,107.20. This trade represents a 0.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider William L. Macias sold 2,383 shares of the business's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $23.83, for a total value of $56,786.89. Following the completion of the transaction, the insider now directly owns 359,408 shares in the company, valued at approximately $8,564,692.64. This represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,510 shares of company stock worth $813,686 over the last three months. 5.90% of the stock is currently owned by corporate insiders.

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Immunovant Trading Down 0.3 %

NASDAQ IMVT traded down $0.05 on Friday, reaching $19.64. The company's stock had a trading volume of 3,965,037 shares, compared to its average volume of 1,089,488. Immunovant, Inc. has a 52 week low of $17.01 and a 52 week high of $35.97. The firm has a market cap of $3.34 billion, a PE ratio of -7.50 and a beta of 0.68. The business has a 50-day moving average price of $20.94 and a 200 day moving average price of $25.79.

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

Analyst Ratings Changes

Several brokerages recently commented on IMVT. Wells Fargo & Company dropped their target price on shares of Immunovant from $47.00 to $45.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. Bank of America dropped their price objective on Immunovant from $38.00 to $33.00 and set a "buy" rating on the stock in a research note on Thursday. Jefferies Financial Group initiated coverage on Immunovant in a research report on Monday, March 3rd. They set a "hold" rating and a $20.00 price objective for the company. Cantor Fitzgerald raised Immunovant to a "strong-buy" rating in a report on Tuesday, March 4th. Finally, Guggenheim reiterated a "buy" rating on shares of Immunovant in a report on Thursday. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $41.70.

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.