Strs Ohio Sells 15,500 Shares of Immunovant, Inc. (NASDAQ:IMVT)

Strs Ohio lessened its holdings in Immunovant, Inc. (NASDAQ:IMVT) by 46.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 18,200 shares of the company’s stock after selling 15,500 shares during the period. Strs Ohio’s holdings in Immunovant were worth $766,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. State Board of Administration of Florida Retirement System lifted its position in shares of Immunovant by 3.0% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 15,774 shares of the company’s stock worth $606,000 after purchasing an additional 460 shares during the period. Alps Advisors Inc. lifted its position in shares of Immunovant by 0.6% in the 3rd quarter. Alps Advisors Inc. now owns 96,434 shares of the company’s stock worth $3,702,000 after purchasing an additional 578 shares during the period. CoreCap Advisors LLC lifted its position in shares of Immunovant by 11.2% in the 4th quarter. CoreCap Advisors LLC now owns 6,407 shares of the company’s stock worth $270,000 after purchasing an additional 647 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Immunovant by 2.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,401 shares of the company’s stock worth $1,436,000 after purchasing an additional 1,059 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of Immunovant by 96.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,360 shares of the company’s stock worth $129,000 after purchasing an additional 1,651 shares during the period. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on IMVT. Oppenheimer began coverage on shares of Immunovant in a research report on Thursday, March 28th. They issued an “outperform” rating and a $50.00 price target for the company. Wolfe Research began coverage on shares of Immunovant in a research report on Thursday, February 15th. They set an “outperform” rating and a $55.00 target price for the company. The Goldman Sachs Group began coverage on shares of Immunovant in a research report on Wednesday, March 13th. They set a “buy” rating and a $50.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunovant in a research report on Friday, January 12th. Finally, JPMorgan Chase & Co. began coverage on shares of Immunovant in a research report on Tuesday, February 20th. They set an “overweight” rating and a $51.00 target price for the company. Seventeen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $48.00.

Immunovant Price Performance

NASDAQ:IMVT opened at $28.80 on Thursday. The firm has a market capitalization of $4.18 billion, a P/E ratio of -15.65 and a beta of 0.65. Immunovant, Inc. has a 1-year low of $15.90 and a 1-year high of $45.58. The company’s fifty day moving average price is $32.50 and its 200-day moving average price is $35.92.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings data on Monday, February 12th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.07. Equities analysts anticipate that Immunovant, Inc. will post -1.7 EPS for the current fiscal year.

Insider Transactions at Immunovant

In other news, CEO Peter Salzmann sold 34,079 shares of the stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $29.06, for a total value of $990,335.74. Following the sale, the chief executive officer now owns 1,052,879 shares in the company, valued at $30,596,663.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Eva Renee Barnett sold 12,253 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $29.06, for a total transaction of $356,072.18. Following the sale, the chief financial officer now owns 359,456 shares in the company, valued at $10,445,791.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Peter Salzmann sold 34,079 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $29.06, for a total transaction of $990,335.74. Following the sale, the chief executive officer now owns 1,052,879 shares in the company, valued at approximately $30,596,663.74. The disclosure for this sale can be found here. Insiders have sold 74,087 shares of company stock worth $2,235,935 over the last 90 days. 4.80% of the stock is currently owned by company 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.