Bank Pictet & Cie Europe AG Takes $261,000 Position in Immunovant, Inc. (NASDAQ:IMVT)

Bank Pictet & Cie Europe AG bought a new stake in shares of Immunovant, Inc. (NASDAQ:IMVT) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,168 shares of the company’s stock, valued at approximately $261,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IMVT. DNB Asset Management AS raised its position in shares of Immunovant by 10.3% in the 2nd quarter. DNB Asset Management AS now owns 10,290 shares of the company’s stock worth $271,000 after acquiring an additional 958 shares in the last quarter. Bamco Inc. NY lifted its position in Immunovant by 1.7% during the first quarter. Bamco Inc. NY now owns 60,000 shares of the company’s stock valued at $1,939,000 after buying an additional 1,000 shares during the period. ProShare Advisors LLC lifted its position in Immunovant by 9.4% during the first quarter. ProShare Advisors LLC now owns 19,877 shares of the company’s stock valued at $642,000 after buying an additional 1,703 shares during the period. Quest Partners LLC boosted its holdings in shares of Immunovant by 216.7% during the 2nd quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock valued at $69,000 after buying an additional 1,786 shares in the last quarter. Finally, Sei Investments Co. grew its position in shares of Immunovant by 11.2% in the 1st quarter. Sei Investments Co. now owns 20,690 shares of the company’s stock worth $668,000 after buying an additional 2,085 shares during the period. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Immunovant Stock Performance

Shares of NASDAQ:IMVT opened at $29.60 on Wednesday. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of -15.58 and a beta of 0.66. The business has a 50-day simple moving average of $30.08 and a two-hundred day simple moving average of $28.93. Immunovant, Inc. has a fifty-two week low of $24.67 and a fifty-two week high of $45.58.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.07). During the same quarter in the prior year, the company posted ($0.57) EPS. As a group, research analysts predict that Immunovant, Inc. will post -2.43 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on IMVT. JPMorgan Chase & Co. lowered their price target on shares of Immunovant from $51.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. UBS Group dropped their price target on Immunovant from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Oppenheimer raised their price objective on Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunovant in a report on Monday, September 9th. Finally, HC Wainwright reissued a “buy” rating and issued a $51.00 target price on shares of Immunovant in a research note on Monday, September 30th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of $48.91.

Insider Transactions at Immunovant

In other Immunovant news, CEO Peter Salzmann sold 9,095 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $28.79, for a total value of $261,845.05. Following the transaction, the chief executive officer now owns 994,789 shares of the company’s stock, valued at approximately $28,639,975.31. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Peter Salzmann sold 9,095 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $28.79, for a total transaction of $261,845.05. Following the completion of the sale, the chief executive officer now owns 994,789 shares of the company’s stock, valued at $28,639,975.31. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider William L. Macias sold 3,188 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $28.79, for a total transaction of $91,782.52. Following the completion of the transaction, the insider now directly owns 365,144 shares in the company, valued at approximately $10,512,495.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,176 shares of company stock worth $732,226 in the last ninety days. Insiders own 5.90% of the company’s stock.

About Immunovant

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.