Immunovant, Inc. (NASDAQ:IMVT) Shares Sold by ADAR1 Capital Management LLC

ADAR1 Capital Management LLC reduced its position in shares of Immunovant, Inc. (NASDAQ:IMVT) by 31.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 787,478 shares of the company’s stock after selling 354,429 shares during the quarter. Immunovant accounts for 3.9% of ADAR1 Capital Management LLC’s investment portfolio, making the stock its 7th biggest holding. ADAR1 Capital Management LLC’s holdings in Immunovant were worth $19,506,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. KBC Group NV raised its position in Immunovant by 60.1% during the fourth quarter. KBC Group NV now owns 3,099 shares of the company’s stock valued at $77,000 after buying an additional 1,163 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Immunovant during the 4th quarter valued at about $268,000. Aigen Investment Management LP acquired a new position in shares of Immunovant in the 4th quarter valued at about $270,000. Teacher Retirement System of Texas lifted its position in shares of Immunovant by 18.5% in the fourth quarter. Teacher Retirement System of Texas now owns 15,203 shares of the company’s stock worth $377,000 after purchasing an additional 2,373 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Immunovant in the fourth quarter worth approximately $505,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Wall Street Analysts Forecast Growth

IMVT has been the topic of several research reports. HC Wainwright reiterated a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a research note on Wednesday, March 19th. Cantor Fitzgerald raised shares of Immunovant to a “strong-buy” rating in a research note on Tuesday, March 4th. Bank of America reduced their price objective on Immunovant from $38.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. Guggenheim reaffirmed a “buy” rating on shares of Immunovant in a research report on Thursday, March 20th. Finally, Wolfe Research downgraded Immunovant from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $41.00.

Insider Activity

In related news, Director Andrew J. Fromkin sold 8,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $19.60, for a total transaction of $156,800.00. Following the completion of the sale, the director now owns 91,913 shares in the company, valued at $1,801,494.80. This represents a 8.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Eva Renee Barnett sold 4,105 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $24.10, for a total value of $98,930.50. Following the completion of the sale, the chief financial officer now directly owns 327,064 shares in the company, valued at $7,882,242.40. This trade represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,510 shares of company stock valued at $813,686. 5.90% of the stock is owned by insiders.

Immunovant Stock Down 7.6 %

Shares of Immunovant stock opened at $14.58 on Monday. Immunovant, Inc. has a 12-month low of $14.16 and a 12-month high of $34.47. The stock has a 50 day moving average price of $19.60 and a two-hundred day moving average price of $24.71. The stock has a market capitalization of $2.48 billion, a P/E ratio of -5.56 and a beta of 0.81.

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

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.