Fieldview Capital Management LLC Sells 27,524 Shares of Immunovant, Inc. $IMVT

Fieldview Capital Management LLC reduced its stake in shares of Immunovant, Inc. (NASDAQ:IMVT) by 61.0% during the third quarter, Holdings Channel reports. The institutional investor owned 17,577 shares of the company’s stock after selling 27,524 shares during the period. Fieldview Capital Management LLC’s holdings in Immunovant were worth $283,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Swiss National Bank raised its stake in Immunovant by 2.2% during the 3rd quarter. Swiss National Bank now owns 132,600 shares of the company’s stock worth $2,138,000 after acquiring an additional 2,800 shares during the period. Russell Investments Group Ltd. lifted its holdings in Immunovant by 315.2% during the third quarter. Russell Investments Group Ltd. now owns 7,383 shares of the company’s stock valued at $119,000 after purchasing an additional 5,605 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Immunovant by 57.9% in the third quarter. Dimensional Fund Advisors LP now owns 374,285 shares of the company’s stock worth $6,033,000 after purchasing an additional 137,319 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of Immunovant in the third quarter worth approximately $33,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Immunovant in the third quarter worth $438,000. 47.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IMVT has been the topic of several recent analyst reports. Wolfe Research upgraded shares of Immunovant from a “peer perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research report on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immunovant in a research note on Friday, January 9th. Truist Financial raised their price target on Immunovant from $16.00 to $22.00 and gave the company a “hold” rating in a report on Thursday, January 8th. HC Wainwright restated a “buy” rating and issued a $35.00 price objective on shares of Immunovant in a research report on Tuesday, February 10th. Finally, Guggenheim upped their price objective on Immunovant from $41.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $32.50.

Immunovant Price Performance

Immunovant stock opened at $25.56 on Thursday. The stock has a market cap of $5.20 billion, a P/E ratio of -9.50 and a beta of 0.62. Immunovant, Inc. has a 1 year low of $12.72 and a 1 year high of $29.25. The firm’s 50 day moving average price is $26.33 and its 200-day moving average price is $22.49.

Immunovant (NASDAQ:IMVT) last issued its earnings results on Friday, February 6th. The company reported ($0.61) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.11. During the same quarter in the prior year, the business posted ($0.76) EPS. As a group, equities analysts expect that Immunovant, Inc. will post -2.69 EPS for the current year.

Insiders Place Their Bets

In other Immunovant news, insider Tuyl Christopher Van sold 10,813 shares of the business’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $26.91, for a total value of $290,977.83. Following the sale, the insider owned 149,930 shares in the company, valued at $4,034,616.30. The trade was a 6.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Jay S. Stout sold 1,977 shares of the stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $26.03, for a total transaction of $51,461.31. Following the transaction, the chief technology officer directly owned 197,634 shares of the company’s stock, valued at $5,144,413.02. This trade represents a 0.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 13,993 shares of company stock worth $374,355. 1.80% of the stock is currently owned by insiders.

About Immunovant

Immunovant Inc is a clinical-stage biopharmaceutical company focused on the development of novel monoclonal antibody therapies that target the neonatal Fc receptor (FcRn) to treat severe autoimmune diseases. By inhibiting FcRn, Immunovant’s approach is designed to reduce levels of pathogenic immunoglobulin G (IgG) antibodies, which play a central role in the pathology of disorders such as myasthenia gravis and immune thrombocytopenia.

The company’s lead asset, efgartigimod, is an engineered Fc fragment that selectively binds to FcRn, accelerating the degradation of circulating IgG.