Immunovant, Inc. $IMVT Stock: Pictet Asset Management Holding SA Lowers Holdings

Pictet Asset Management Holding SA reduced its holdings in Immunovant, Inc. (NASDAQ:IMVT) by 22.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 359,081 shares of the company’s stock after selling 103,278 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Immunovant were worth $12,130,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. GAMMA Investing LLC raised its holdings in Immunovant by 63.6% during the third quarter. GAMMA Investing LLC now owns 1,224 shares of the company’s stock worth $41,000 after acquiring an additional 476 shares in the last quarter. Quantbot Technologies LP bought a new stake in Immunovant during the second quarter worth $87,000. Sterling Capital Management LLC lifted its stake in Immunovant by 856.0% in the 3rd quarter. Sterling Capital Management LLC now owns 2,868 shares of the company’s stock valued at $97,000 after purchasing an additional 2,568 shares during the last quarter. Nykredit A S bought a new position in Immunovant during the second quarter worth about $174,000. Finally, State of Wyoming acquired a new position in Immunovant during the second quarter worth approximately $208,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Tiago Girão sold 6,606 shares of Immunovant stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $28.50, for a total value of $188,271.00. Following the completion of the transaction, the chief financial officer owned 234,192 shares in the company, valued at $6,674,472. This trade represents a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Christopher Van Tuyl sold 2,846 shares of Immunovant stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $36.36, for a total value of $103,480.56. Following the sale, the insider owned 176,545 shares of the company’s stock, valued at approximately $6,419,176.20. This trade represents a 1.59% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 27,430 shares of company stock worth $895,852 in the last 90 days. Company insiders own 1.90% of the company’s stock.

Immunovant Price Performance

Shares of IMVT stock opened at $35.05 on Friday. The business’s 50-day moving average price is $32.74 and its 200-day moving average price is $32.30. Immunovant, Inc. has a 12 month low of $21.86 and a 12 month high of $45.42.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings data on Monday, November 9th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.27. During the same period in the prior year, the company earned ($0.73) EPS. Analysts predict that Immunovant, Inc. will post -2.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IMVT has been the topic of a number of research analyst reports. Sanford C. Bernstein upgraded Immunovant to a “hold” rating in a research note on Wednesday, July 29th. HC Wainwright restated a “buy” rating on shares of Immunovant in a report on Thursday, September 24th. JPMorgan Chase & Co. increased their target price on Immunovant from $47.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Immunovant in a research report on Friday, October 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunovant in a research note on Tuesday, August 25th. Nine equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Immunovant has an average rating of “Moderate Buy” and an average price target of $44.60.

Immunovant Company Profile

Immunovant, Inc. is a clinical-stage biopharmaceutical company developing treatments for autoimmune diseases. Its research focuses on inhibiting the neonatal Fc receptor (FcRn), a pathway involved in maintaining levels of disease-causing antibodies. The company’s investigational medicines include batoclimab and IMVT-1402, both designed to reduce circulating antibodies. Immunovant has studied or evaluated these candidates for conditions including myasthenia gravis, Graves’ disease and other autoimmune disorders.