Immunovant, Inc. (NASDAQ:IMVT) Shares Sold by Invesco Ltd.

Invesco Ltd. lessened its position in shares of Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 15.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 504,032 shares of the company's stock after selling 90,210 shares during the quarter. Invesco Ltd. owned about 0.30% of Immunovant worth $12,485,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of 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 purchasing an additional 1,163 shares in the last quarter. Rhumbline Advisers raised its stake in Immunovant by 1.5% in the fourth quarter. Rhumbline Advisers now owns 80,932 shares of the company's stock valued at $2,005,000 after buying an additional 1,188 shares during the last quarter. Swiss National Bank boosted its holdings in Immunovant by 1.2% in the fourth quarter. Swiss National Bank now owns 100,800 shares of the company's stock worth $2,497,000 after acquiring an additional 1,200 shares in the last quarter. Tyro Capital Management LLC grew its stake in shares of Immunovant by 0.6% during the third quarter. Tyro Capital Management LLC now owns 252,149 shares of the company's stock worth $7,189,000 after acquiring an additional 1,529 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Immunovant by 4.0% during the fourth quarter. Sei Investments Co. now owns 40,456 shares of the company's stock valued at $1,002,000 after acquiring an additional 1,541 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company's stock.

Immunovant Price Performance

IMVT stock traded up $0.20 during trading on Wednesday, hitting $14.45. The stock had a trading volume of 1,274,436 shares, compared to its average volume of 1,200,057. Immunovant, Inc. has a twelve month low of $12.72 and a twelve month high of $34.47. The company's 50-day moving average price is $17.73 and its two-hundred day moving average price is $23.32. The stock has a market capitalization of $2.45 billion, a P/E ratio of -5.52 and a beta of 0.81.

Immunovant (NASDAQ:IMVT - Get Free Report) last released its earnings results 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). As a group, sell-side analysts expect that Immunovant, Inc. will post -2.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on IMVT shares. Cantor Fitzgerald upgraded shares of Immunovant to a "strong-buy" rating in a research note on Tuesday, March 4th. Wolfe Research lowered Immunovant from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. HC Wainwright reiterated a "buy" rating and set a $51.00 price target on shares of Immunovant in a research note on Wednesday, March 19th. Jefferies Financial Group started coverage on Immunovant in a research note on Monday, March 3rd. They issued a "hold" rating and a $20.00 price objective for the company. Finally, Guggenheim reiterated a "buy" rating on shares of Immunovant in a report on Thursday, March 20th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Immunovant currently has an average rating of "Moderate Buy" and a consensus target price of $38.33.

Insider Transactions at Immunovant

In related news, CEO Peter Salzmann sold 8,321 shares of the company's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $14.89, for a total transaction of $123,899.69. Following the completion of the sale, the chief executive officer now owns 1,178,191 shares of the company's stock, valued at approximately $17,543,263.99. This represents a 0.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Eva Renee Barnett sold 2,993 shares of the stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $14.89, for a total transaction of $44,565.77. Following the completion of the sale, the chief financial officer now owns 396,774 shares of the company's stock, valued at approximately $5,907,964.86. The trade was a 0.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,408 shares of company stock valued at $690,207 over the last 90 days. 5.90% of the stock is currently owned by corporate insiders.

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.